Equities analysts expect Genesco (NYSE:GCO) to report sales of $650.20 million for the current quarter, according to Zacks Investment Research. Three analysts have made estimates for Genesco’s earnings. The highest sales estimate is $677.70 million and the lowest is $627.90 million. Genesco posted sales of $643.37 million in the same quarter last year, which suggests a positive year over year growth rate of 1.1%. The business is expected to issue its next quarterly earnings report before the market opens on Tuesday, June 5th.
According to Zacks, analysts expect that Genesco will report full-year sales of $2.93 billion for the current fiscal year, with estimates ranging from $2.86 billion to $2.99 billion. For the next year, analysts expect that the firm will post sales of $2.98 billion per share, with estimates ranging from $2.92 billion to $3.04 billion. Zacks’ sales averages are an average based on a survey of sell-side research firms that follow Genesco.
Genesco (NYSE:GCO) last issued its quarterly earnings results on Thursday, March 15th. The company reported $2.15 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.09 by $0.06. The company had revenue of $930.00 million during the quarter, compared to the consensus estimate of $902.00 million. Genesco had a positive return on equity of 7.07% and a negative net margin of 3.85%. Genesco’s revenue was up 5.3% on a year-over-year basis. During the same period last year, the company earned $2.15 earnings per share.
A number of research firms have weighed in on GCO. Zacks Investment Research lowered Genesco from a “hold” rating to a “sell” rating in a research note on Monday, April 30th. Piper Jaffray Companies set a $40.00 price target on Genesco and gave the company a “buy” rating in a research note on Wednesday, February 14th. Jefferies Group set a $45.00 price target on Genesco and gave the company a “buy” rating in a research note on Monday, February 26th. SunTrust Banks restated a “buy” rating and set a $41.00 price target on shares of Genesco in a research note on Friday, February 2nd. Finally, Pivotal Research assumed coverage on Genesco in a research note on Thursday, January 25th. They set a “buy” rating and a $44.00 price target on the stock. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and four have given a buy rating to the stock. Genesco currently has a consensus rating of “Hold” and a consensus price target of $41.00.
In other Genesco news, Director Thurgood Marshall, Jr. sold 2,200 shares of the firm’s stock in a transaction dated Wednesday, April 4th. The stock was sold at an average price of $42.31, for a total value of $93,082.00. Following the completion of the sale, the director now owns 9,281 shares of the company’s stock, valued at $392,679.11. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. 4.30% of the stock is currently owned by company insiders.
Several institutional investors have recently added to or reduced their stakes in the stock. Crossmark Global Holdings Inc. lifted its holdings in shares of Genesco by 27.7% during the fourth quarter. Crossmark Global Holdings Inc. now owns 11,530 shares of the company’s stock worth $375,000 after purchasing an additional 2,500 shares during the period. State Board of Administration of Florida Retirement System lifted its holdings in shares of Genesco by 37.6% during the first quarter. State Board of Administration of Florida Retirement System now owns 9,286 shares of the company’s stock worth $377,000 after purchasing an additional 2,538 shares during the period. New York State Common Retirement Fund lifted its holdings in shares of Genesco by 13.2% during the first quarter. New York State Common Retirement Fund now owns 22,300 shares of the company’s stock worth $905,000 after purchasing an additional 2,600 shares during the period. Bank of Montreal Can lifted its holdings in shares of Genesco by 9.6% during the fourth quarter. Bank of Montreal Can now owns 31,833 shares of the company’s stock worth $1,034,000 after purchasing an additional 2,778 shares during the period. Finally, Goldman Sachs Group Inc. lifted its holdings in shares of Genesco by 4.8% during the fourth quarter. Goldman Sachs Group Inc. now owns 70,096 shares of the company’s stock worth $2,278,000 after purchasing an additional 3,186 shares during the period.
GCO traded up $0.85 during trading on Monday, reaching $45.45. The company had a trading volume of 110,700 shares, compared to its average volume of 339,219. The company has a quick ratio of 0.59, a current ratio of 2.72 and a debt-to-equity ratio of 0.10. Genesco has a 52 week low of $20.90 and a 52 week high of $45.90. The company has a market cap of $885.26 million, a PE ratio of 14.20, a P/E/G ratio of 1.41 and a beta of 1.05.
Genesco Inc retails and wholesales footwear, apparel, and accessories. The company operates in five segments: Journeys Group, Schuh Group, Lids Sports Group, Johnston & Murphy Group, and Licensed Brands. The Journeys Group segment offers footwear and accessories through the Journeys, Journeys Kidz, Shi by Journeys, and Little Burgundy retail chains, as well as through e-commerce and catalogs for young men, women, and children.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Genesco Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Genesco and related companies with MarketBeat.com's FREE daily email newsletter.