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

Guess’ (NYSE:GES – Get Rating) issued its earnings results on Wednesday. The company reported ($0.07) EPS for the quarter, topping the consensus estimate of ($0.28) by $0.21, Briefing.com reports. The firm had revenue of $569.80 million during the quarter, compared to analysts’ expectations 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% compared to the same quarter last year. During the same period last year, the business earned $0.24 earnings per share. 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 %

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

Guess’ Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, June 23rd. Stockholders 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 dividend 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%.

Analyst Ratings Changes

GES has been the topic of several recent analyst reports. TheStreet lowered Guess’ from a “b” rating to a “c+” rating in a research note on Wednesday. Small Cap Consu reaffirmed a “buy” rating on shares of Guess’ in a research note on Tuesday, March 28th. StockNews.com raised Guess’ from a “hold” rating to a “buy” rating in a research note on Friday. Finally, Telsey Advisory Group reaffirmed a “market perform” rating and issued a $23.00 price target on shares of Guess’ in a research note on Wednesday, March 15th. One investment analyst has rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $26.00.

Institutional Investors Weigh In On Guess’

Institutional investors and hedge funds have recently made changes to their positions in the company. Coppell Advisory Solutions Corp. bought a new stake in shares of Guess’ during the fourth quarter worth $40,000. Quarry LP bought a new stake in Guess’ in the first quarter valued at about $45,000. PNC Financial Services Group Inc. increased its holdings in Guess’ by 27.5% in the first quarter. PNC Financial Services Group Inc. now owns 2,692 shares of the company’s stock valued at $59,000 after purchasing an additional 581 shares during the last quarter. Tower Research Capital LLC TRC lifted its stake in Guess’ by 732.9% in the first quarter. Tower Research Capital LLC TRC now owns 2,807 shares of the company’s stock valued at $55,000 after buying an additional 2,470 shares during the period. Finally, Captrust Financial Advisors boosted its holdings in Guess’ by 34.7% during the first quarter. Captrust Financial Advisors now owns 5,175 shares of the company’s stock worth $114,000 after buying an additional 1,334 shares during the last quarter. Institutional investors own 58.81% of the company’s stock.

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.