Guess’ (NYSE:GES) Updates FY 2024 Earnings Guidance

Guess’ (NYSE:GES – Get Rating) issued an update on its FY 2024 earnings guidance on Friday morning. The company provided EPS guidance of $2.60-$2.90 for the period, compared to the consensus EPS estimate of $2.66. The company issued revenue guidance of $2.74 billion-$2.79 billion, compared to the consensus revenue estimate of $2.74 billion. Guess’ also updated its Q2 2024 guidance to $0.35-$0.42 EPS.

Guess’ Trading Up 8.2 %

NYSE:GES opened at $18.80 on Friday. The stock’s 50 day simple moving average is $18.72 and its 200-day simple moving average is $20.29. Guess’ has a 12-month low of $14.27 and a 12-month high of $24.15. The firm has a market cap of $1.05 billion, a P/E ratio of 9.95 and a beta of 1.93. The company has a current ratio of 1.59, a quick ratio of 0.92 and a debt-to-equity ratio of 0.52.

Guess’ (NYSE:GES – Get Rating) last announced its quarterly earnings data on Wednesday, May 24th. The company reported ($0.07) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.28) by $0.21. The firm had revenue of $569.80 million for the quarter, compared to analyst estimates of $555.63 million. Guess’ had a return on equity of 29.09% and a net margin of 4.87%. Guess”s quarterly revenue was down 4.0% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.24 earnings per share. Equities analysts anticipate that Guess’ will post 2.68 EPS for the current year.

Guess’ Increases Dividend

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

Wall Street Analyst Weigh In

Several analysts have recently issued reports on GES shares. Telsey Advisory Group restated a market perform rating and issued a $23.00 price objective on shares of Guess’ in a research report on Wednesday, March 15th. TheStreet downgraded Guess’ from a b rating to a c+ rating in a research report on Wednesday. StockNews.com upgraded Guess’ from a hold rating to a buy rating in a research report on Friday. Finally, Small Cap Consu reiterated a buy rating on shares of Guess’ in a research report on Tuesday, March 28th. One investment analyst has rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of Moderate Buy and an average target price of $26.00.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its position in Guess’ by 4.2% during the 1st quarter. Vanguard Group Inc. now owns 4,555,857 shares of the company’s stock worth $99,546,000 after acquiring an additional 184,983 shares during the period. Dimensional Fund Advisors LP raised its position in Guess’ by 1.3% during the first quarter. Dimensional Fund Advisors LP now owns 3,970,545 shares of the company’s stock valued at $86,760,000 after buying an additional 50,371 shares during the period. State Street Corp raised its position in Guess’ by 3.9% during the first quarter. State Street Corp now owns 1,467,311 shares of the company’s stock valued at $28,872,000 after buying an additional 55,298 shares during the period. Arrowstreet Capital Limited Partnership raised its position in Guess’ by 158.6% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 1,170,608 shares of the company’s stock valued at $24,220,000 after buying an additional 717,977 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its stake in Guess’ by 82.2% in the first quarter. Charles Schwab Investment Management Inc. now owns 1,005,259 shares of the company’s stock valued at $19,562,000 after purchasing an additional 453,565 shares in the last quarter. Institutional investors and hedge funds own 58.81% of the company’s stock.

Guess’ Company Profile

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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.