Analysts predict that Genesco Inc. (NYSE:GCO) will report $706.97 million in sales for the current fiscal quarter, Zacks Investment Research reports. Three analysts have made estimates for Genesco’s earnings, with the highest sales estimate coming in at $712.00 million and the lowest estimate coming in at $703.20 million. Genesco posted sales of $710.82 million during the same quarter last year, which suggests a negative year-over-year growth rate of 0.5%. The company is scheduled to issue its next earnings results on Friday, December 1st.
According to Zacks, analysts expect that Genesco will report full-year sales of $706.97 million for the current fiscal year, with estimates ranging from $2.83 billion to $2.89 billion. For the next financial year, analysts expect that the company will post sales of $2.89 billion per share, with estimates ranging from $2.80 billion to $2.93 billion. Zacks’ sales calculations are an average based on a survey of sell-side research analysts that cover Genesco.
Genesco (NYSE:GCO) last released its quarterly earnings data on Thursday, August 31st. The company reported ($0.10) EPS for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.04). Genesco had a net margin of 2.43% and a return on equity of 7.36%. The business had revenue of $616.50 million during the quarter, compared to analysts’ expectations of $626.93 million. During the same quarter in the previous year, the company posted $0.34 EPS. The company’s revenue was down 1.5% compared to the same quarter last year.
A number of brokerages have commented on GCO. B. Riley upgraded Genesco from a “neutral” rating to a “buy” rating and set a $56.00 price objective on the stock in a research note on Monday, May 22nd. ValuEngine lowered Genesco from a “buy” rating to a “hold” rating in a research report on Friday, June 2nd. Zacks Investment Research lowered Genesco from a “hold” rating to a “strong sell” rating in a research report on Thursday, June 1st. Morgan Stanley reaffirmed an “equal weight” rating and set a $38.00 target price (down from $59.00) on shares of Genesco in a research report on Thursday, June 1st. Finally, Susquehanna Bancshares Inc reaffirmed a “positive” rating and set a $43.00 target price (down from $66.00) on shares of Genesco in a research report on Tuesday, May 30th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and three have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $37.57.
In other news, Director Kevin Patrick Mcdermott acquired 1,000 shares of the stock in a transaction that occurred on Thursday, July 6th. The stock was purchased at an average cost of $32.32 per share, with a total value of $32,320.00. Following the completion of the acquisition, the director now directly owns 8,657 shares in the company, valued at $279,794.24. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Chairman Robert J. Dennis acquired 25,000 shares of the stock in a transaction that occurred on Wednesday, September 6th. The stock was purchased at an average cost of $23.81 per share, with a total value of $595,250.00. Following the completion of the acquisition, the chairman now owns 224,935 shares of the company’s stock, valued at $5,355,702.35. The disclosure for this purchase can be found here. Over the last ninety days, insiders have bought 36,000 shares of company stock worth $869,170. Corporate insiders own 3.30% of the company’s stock.
A number of institutional investors have recently made changes to their positions in GCO. Quantbot Technologies LP bought a new stake in Genesco in the first quarter valued at about $105,000. Envestnet Asset Management Inc. increased its holdings in Genesco by 26.2% in the first quarter. Envestnet Asset Management Inc. now owns 2,347 shares of the company’s stock valued at $130,000 after buying an additional 487 shares during the last quarter. State of Alaska Department of Revenue increased its holdings in Genesco by 77.8% in the second quarter. State of Alaska Department of Revenue now owns 3,893 shares of the company’s stock valued at $131,000 after buying an additional 1,703 shares during the last quarter. PNC Financial Services Group Inc. increased its holdings in Genesco by 44.0% in the first quarter. PNC Financial Services Group Inc. now owns 2,538 shares of the company’s stock valued at $142,000 after buying an additional 775 shares during the last quarter. Finally, Tower Research Capital LLC TRC bought a new stake in Genesco in the second quarter valued at about $144,000. 94.38% of the stock is owned by hedge funds and other institutional investors.
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Genesco (NYSE GCO) traded down 1.73% on Friday, hitting $25.50. The stock had a trading volume of 539,650 shares. The firm has a market cap of $507.93 million, a PE ratio of 7.16 and a beta of 1.29. The company’s 50 day moving average is $26.57 and its 200 day moving average is $40.07. Genesco has a 12-month low of $20.90 and a 12-month high of $72.00.
Genesco Inc is a retailer and wholesaler of footwear, apparel and accessories. The Company operates in five segments: Journeys Group, Schuh Group, Lids Sports Group, Johnston & Murphy Group and Licensed Brands. It relies on independent third-party manufacturers for production of its footwear products sold at wholesale.
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