Brokerages predict that Genesco Inc. (NYSE:GCO) will report $491.65 million in sales for the current fiscal quarter, according to Zacks. Two analysts have issued estimates for Genesco’s earnings, with estimates ranging from $482.30 million to $501.00 million. Genesco posted sales of $653.89 million in the same quarter last year, which suggests a negative year over year growth rate of 24.8%. The business is scheduled to report its next earnings results on Friday, September 6th.
According to Zacks, analysts expect that Genesco will report full-year sales of $2.21 billion for the current fiscal year, with estimates ranging from $2.20 billion to $2.21 billion. For the next fiscal year, analysts expect that the business will report sales of $2.24 billion, with estimates ranging from $2.23 billion to $2.26 billion. Zacks’ sales averages are a mean average based on a survey of sell-side analysts that cover Genesco.
Genesco (NYSE:GCO) last released its earnings results on Friday, May 31st. The company reported $0.33 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.04 by $0.29. The company had revenue of $495.70 million during the quarter, compared to the consensus estimate of $479.36 million. Genesco had a positive return on equity of 8.85% and a negative net margin of 1.70%. Genesco’s quarterly revenue was up 2.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.06) EPS.
In other Genesco news, Director Thurgood Marshall, Jr. sold 1,690 shares of the business’s stock in a transaction on Friday, June 14th. The stock was sold at an average price of $44.57, for a total value of $75,323.30. Following the sale, the director now directly owns 9,724 shares of the company’s stock, valued at $433,398.68. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 4.40% of the company’s stock.
A number of institutional investors have recently added to or reduced their stakes in the business. Oppenheimer Asset Management Inc. purchased a new stake in Genesco in the fourth quarter worth about $48,000. PNC Financial Services Group Inc. grew its position in shares of Genesco by 24.4% during the fourth quarter. PNC Financial Services Group Inc. now owns 1,350 shares of the company’s stock worth $60,000 after purchasing an additional 265 shares in the last quarter. Meeder Asset Management Inc. grew its position in shares of Genesco by 303.8% during the first quarter. Meeder Asset Management Inc. now owns 2,435 shares of the company’s stock worth $112,000 after purchasing an additional 1,832 shares in the last quarter. Investors Research Corp purchased a new stake in shares of Genesco during the first quarter worth about $146,000. Finally, NumerixS Investment Technologies Inc grew its position in shares of Genesco by 500.0% during the first quarter. NumerixS Investment Technologies Inc now owns 3,600 shares of the company’s stock worth $164,000 after purchasing an additional 3,000 shares in the last quarter. 94.82% of the stock is currently owned by institutional investors and hedge funds.
NYSE:GCO traded down $0.13 during mid-day trading on Wednesday, reaching $45.04. The stock had a trading volume of 6,630 shares, compared to its average volume of 352,964. The company has a market capitalization of $739.91 million, a price-to-earnings ratio of 13.75, a PEG ratio of 2.44 and a beta of 0.64. Genesco has a one year low of $37.00 and a one year high of $51.85. The company has a debt-to-equity ratio of 1.13, a current ratio of 1.65 and a quick ratio of 0.64.
Genesco announced that its board has approved a stock buyback program on Friday, May 3rd that authorizes the company to repurchase $100.00 million in outstanding shares. This repurchase authorization authorizes the company to repurchase up to 11.7% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company’s management believes its stock is undervalued.
Genesco Company Profile
Genesco Inc operates as a retailer and wholesaler of footwear, apparel, and accessories. The company operates through four segments: Journeys Group, Schuh Group, Johnston & Murphy Group, and Licensed Brands. The Journeys Group segment offers footwear and accessories through the Journeys, Journeys Kidz, and Little Burgundy retail chains, as well as through e-commerce and catalogs for young men, women, and children.
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