Zacks Investment Research upgraded shares of Guess Inc. (NYSE:GES) from a hold rating to a buy rating in a research note published on Tuesday morning. Zacks Investment Research currently has $16.00 target price on the stock.
According to Zacks, “Estimates have been revised upward over the past 60 days since Guess’ posted earnings of $0.14 per share, which beat the Zacks Consensus Estimate of $0.06. Earnings also surpassed management’s guidance. Revenue were almost flat year over year as improvement in Europe was offset by deterioration in American retail and wholesale business. However, revenues missed the Zacks Consensus Estimate. The company raised the lower end of fiscal 2017 earnings as it expects comps to improve in the second half of the year. The company has a strong e-Commerce business and is aggressively opening stores in the Americas Retail category to boost sales. However, the company’s operations in China have been hampered by tough macroeconomic challenges.”
Several other equities research analysts have also recently issued reports on the company. Piper Jaffray Cos. cut Guess from a neutral rating to an underweight rating and cut their price target for the company from $15.00 to $12.00 in a research note on Tuesday, July 19th. Mizuho reiterated a neutral rating and issued a $17.00 price target on shares of Guess in a research note on Tuesday, July 12th. Telsey Advisory Group boosted their price target on Guess from $16.00 to $17.00 and gave the company a market perform rating in a research note on Thursday, August 25th. Jefferies Group boosted their price target on Guess from $16.00 to $17.00 and gave the company a hold rating in a research note on Thursday, August 25th. Finally, B. Riley restated a buy rating and set a $21.00 price objective on shares of Guess in a research report on Tuesday, August 30th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and five have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of Hold and a consensus target price of $18.07.
Shares of Guess (NYSE:GES) traded up 0.3178% on Tuesday, reaching $14.4558. The company’s stock had a trading volume of 212,763 shares. The firm has a 50 day moving average of $15.42 and a 200 day moving average of $15.99. Guess has a 52-week low of $13.78 and a 52-week high of $23.45. The company has a market cap of $1.22 billion, a PE ratio of 18.2063 and a beta of 0.76.
Guess (NYSE:GES) last issued its quarterly earnings results on Wednesday, August 24th. The company reported $0.14 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.07 by $0.07. The business earned $545 million during the quarter, compared to analysts’ expectations of $551.53 million. Guess had a return on equity of 5.16% and a net margin of 3.10%. The firm’s revenue for the quarter was down .2% compared to the same quarter last year. During the same period in the previous year, the company posted $0.21 earnings per share. Analysts predict that Guess will post $0.65 earnings per share for the current year.
The company also recently declared a quarterly dividend, which was paid on Friday, September 23rd. Shareholders of record on Wednesday, September 7th were given a dividend of $0.225 per share. The ex-dividend date of this dividend was Friday, September 2nd. This represents a $0.90 dividend on an annualized basis and a yield of 6.25%. Guess’s dividend payout ratio (DPR) is currently 112.50%.
In related news, CEO Amigo Victor Herrero acquired 2,177 shares of the business’s stock in a transaction dated Monday, September 26th. The shares were bought at an average price of $14.87 per share, with a total value of $32,371.99. Following the transaction, the chief executive officer now directly owns 334,703 shares of the company’s stock, valued at $4,977,033.61. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Anthony Chidoni sold 4,000 shares of the stock in a transaction dated Friday, July 15th. The stock was sold at an average price of $15.54, for a total transaction of $62,160.00. Following the transaction, the director now directly owns 157,744 shares in the company, valued at approximately $2,451,341.76. The disclosure for this sale can be found here. Company insiders own 28.80% of the company’s stock.
Several institutional investors have recently added to or reduced their stakes in the company. Renaissance Technologies LLC boosted its position in Guess by 744.4% in the first quarter. Renaissance Technologies LLC now owns 1,428,700 shares of the company’s stock worth $26,817,000 after buying an additional 1,259,500 shares during the period. Credit Agricole S A boosted its position in Guess by 50.7% in the first quarter. Credit Agricole S A now owns 15,398 shares of the company’s stock worth $289,000 after buying an additional 5,183 shares during the period. BlackRock Group LTD boosted its position in Guess by 1.9% in the first quarter. BlackRock Group LTD now owns 116,516 shares of the company’s stock worth $2,187,000 after buying an additional 2,175 shares during the period. HBK Investments L P boosted its position in Guess by 59.1% in the first quarter. HBK Investments L P now owns 35,800 shares of the company’s stock worth $672,000 after buying an additional 13,300 shares during the period. Finally, Northwestern Mutual Investment Management Company LLC boosted its position in Guess by 0.7% in the second quarter. Northwestern Mutual Investment Management Company LLC now owns 11,062 shares of the company’s stock worth $166,000 after buying an additional 78 shares during the period. 77.63% of the stock is currently owned by institutional investors.
Guess?, Inc designs, markets, distributes and licenses a lifestyle collection of apparel and accessories for men, women and children. The Company operates through five segments: Americas Retail, which includes its retail and e-commerce operations in North and Central America and its retail operations in South America; Europe, which includes its wholesale, retail and e-commerce operations in Europe and the Middle East; Asia, which includes its retail, e-commerce and wholesale operations in Asia; Americas Wholesale, which includes its wholesale operations in the Americas, and Licensing, which includes licensing operations of the Company across the world.
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