Genesco (GCO) Releases FY 2019 Earnings Guidance

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Genesco (NYSE:GCO) updated its FY 2019 earnings guidance on Thursday. The company provided earnings per share (EPS) guidance of $3.35-3.75 for the period, compared to the Thomson Reuters consensus estimate of $3.91. Genesco also updated its FY20 guidance to $3.35-3.75 EPS.

Several brokerages recently issued reports on GCO. Piper Jaffray Companies set a $41.00 price target on Genesco and gave the company a hold rating in a research report on Friday, November 30th. Zacks Investment Research upgraded Genesco from a hold rating to a buy rating and set a $52.00 price target on the stock in a research report on Wednesday, February 20th. TheStreet upgraded Genesco from a c+ rating to a b rating in a research report on Tuesday, January 8th. ValuEngine upgraded Genesco from a hold rating to a buy rating in a research report on Tuesday, November 27th. Finally, Pivotal Research restated a buy rating and issued a $52.00 price target on shares of Genesco in a research report on Monday, December 3rd. Nine analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. The stock currently has a consensus rating of Hold and an average price target of $43.00.

Shares of GCO opened at $43.13 on Friday. Genesco has a twelve month low of $36.60 and a twelve month high of $51.85. The company has a market capitalization of $916.54 million, a price-to-earnings ratio of 13.74, a price-to-earnings-growth ratio of 2.51 and a beta of 0.72. The company has a debt-to-equity ratio of 0.09, a quick ratio of 0.48 and a current ratio of 2.26.

Genesco (NYSE:GCO) last announced its quarterly earnings data on Thursday, March 14th. The company reported $2.18 earnings per share for the quarter, missing the Zacks’ consensus estimate of $2.30 by ($0.12). Genesco had a net margin of 2.31% and a return on equity of 7.21%. The business had revenue of $675.50 million during the quarter, compared to analysts’ expectations of $914.85 million. During the same period in the prior year, the firm posted $2.15 EPS. Genesco’s revenue for the quarter was down 2.0% compared to the same quarter last year. Analysts expect that Genesco will post 3.27 EPS for the current year.

Genesco announced that its Board of Directors has authorized a share buyback plan on Friday, December 14th that allows the company to repurchase $125.00 million in outstanding shares. This repurchase authorization allows the company to reacquire up to 14.7% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s management believes its shares are undervalued.

In other Genesco news, Director Marty G. Dickens sold 5,000 shares of Genesco stock in a transaction that occurred on Tuesday, January 29th. The stock was sold at an average price of $49.50, for a total value of $247,500.00. Following the sale, the director now owns 18,578 shares of the company’s stock, valued at approximately $919,611. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Robert J. Dennis sold 11,380 shares of Genesco stock in a transaction that occurred on Wednesday, January 23rd. The shares were sold at an average price of $47.14, for a total value of $536,453.20. Following the completion of the sale, the chief executive officer now directly owns 261,361 shares in the company, valued at approximately $12,320,557.54. The disclosure for this sale can be found here. Insiders sold a total of 16,880 shares of company stock worth $807,953 in the last ninety days. 4.30% of the stock is owned by corporate insiders.

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About Genesco

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.

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Earnings History and Estimates for Genesco (NYSE:GCO)

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