Guess’ (NYSE:GES) Releases Earnings Results, Beats Estimates By $0.21 EPS

Guess’ (NYSE:GES – Get Rating) announced its earnings results on Wednesday. The company reported ($0.07) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.28) by $0.21, Briefing.com reports. Guess’ had a return on equity of 29.09% and a net margin of 4.87%. The business had revenue of $569.80 million for the quarter, compared to analyst estimates of $555.63 million. During the same quarter last year, the firm earned $0.24 EPS. Guess”s revenue for the quarter was down 4.0% compared to the same quarter last year. Guess’ updated its Q2 guidance to $0.35-0.42 EPS and its FY24 guidance to $2.60-2.90 EPS.

Guess’ Trading Up 8.2 %

Shares of Guess’ stock opened at $18.80 on Friday. Guess’ has a 1 year low of $14.27 and a 1 year high of $24.15. The company has a market capitalization of $1.05 billion, a price-to-earnings ratio of 9.95 and a beta of 1.93. The business has a fifty day simple moving average of $18.72 and a two-hundred day simple moving average of $20.29. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.59 and a quick ratio of 0.92.

Guess’ Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 23rd. Stockholders of record on Wednesday, June 7th will be paid a dividend of $0.30 per share. This is an increase from Guess”s previous quarterly dividend of $0.23. This represents a $1.20 annualized dividend and a dividend yield of 6.38%. Guess”s payout ratio is currently 47.62%.

Hedge Funds Weigh In On Guess’

Large investors have recently modified their holdings of the stock. Coppell Advisory Solutions Corp. bought a new position in Guess’ in the 4th quarter valued at about $40,000. Quarry LP bought a new position in shares of Guess’ during the first quarter worth approximately $45,000. PNC Financial Services Group Inc. lifted its holdings in Guess’ by 27.5% during the 1st quarter. PNC Financial Services Group Inc. now owns 2,692 shares of the company’s stock worth $59,000 after purchasing an additional 581 shares during the last quarter. Tower Research Capital LLC TRC boosted its stake in Guess’ by 732.9% in the 1st quarter. Tower Research Capital LLC TRC now owns 2,807 shares of the company’s stock valued at $55,000 after purchasing an additional 2,470 shares during the period. Finally, Captrust Financial Advisors grew its holdings in Guess’ by 34.7% in the 1st quarter. Captrust Financial Advisors now owns 5,175 shares of the company’s stock valued at $114,000 after buying an additional 1,334 shares in the last quarter. 58.81% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts recently commented on GES shares. Telsey Advisory Group restated a “market perform” rating and set a $23.00 target price on shares of Guess’ in a report on Wednesday, March 15th. Small Cap Consu reiterated a “buy” rating on shares of Guess’ in a report on Tuesday, March 28th. StockNews.com raised Guess’ from a “hold” rating to a “buy” rating in a research report on Friday. Finally, TheStreet downgraded Guess’ from a “b” rating to a “c+” rating in a report on Wednesday. One investment analyst has rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, Guess’ presently has a consensus rating of “Moderate Buy” and a consensus price target of $26.00.

About Guess’

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Guess?, Inc engages in designing, marketing, distributing and licensing contemporary apparel and accessories for men, women and children that reflect the American lifestyle and European fashion sensibilities. It operates through the following segments: Americas Retail, Americas Wholesale, Europe, Asia, and Licensing.