Jefferies Financial Group Research Analysts Lift Earnings Estimates for Genesco Inc. (NYSE:GCO)

Genesco Inc. (NYSE:GCO) – Research analysts at Jefferies Financial Group increased their FY2021 earnings per share (EPS) estimates for shares of Genesco in a research report issued to clients and investors on Monday, January 11th. Jefferies Financial Group analyst J. Stichter now forecasts that the company will post earnings of ($1.96) per share for the year, up from their prior estimate of ($2.27). Jefferies Financial Group also issued estimates for Genesco’s Q4 2021 earnings at $2.00 EPS, FY2022 earnings at $4.11 EPS and FY2023 earnings at $4.81 EPS.

Genesco (NYSE:GCO) last posted its earnings results on Thursday, December 3rd. The company reported $0.85 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.14) by $0.99. The business had revenue of $479.30 million for the quarter, compared to analyst estimates of $457.21 million. Genesco had a negative net margin of 6.06% and a negative return on equity of 2.50%. The company’s revenue for the quarter was down 10.8% on a year-over-year basis. During the same period in the prior year, the company posted $1.33 EPS.

A number of other research analysts have also weighed in on GCO. CL King raised their price target on shares of Genesco from $28.00 to $40.00 and gave the company a “buy” rating in a research note on Friday, November 27th. Zacks Investment Research raised shares of Genesco from a “sell” rating to a “hold” rating in a research note on Wednesday, November 4th. ValuEngine downgraded shares of Genesco from a “strong-buy” rating to a “buy” rating in a report on Thursday, December 10th. Finally, Pivotal Research raised their price target on shares of Genesco from $37.00 to $43.00 and gave the stock a “buy” rating in a report on Tuesday. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. The company has an average rating of “Buy” and a consensus target price of $32.60.

Shares of Genesco stock opened at $37.28 on Thursday. The firm has a market capitalization of $558.90 million, a PE ratio of -4.73 and a beta of 2.14. Genesco has a twelve month low of $5.51 and a twelve month high of $45.32. The firm’s 50-day moving average price is $30.70 and its 200 day moving average price is $23.17. The company has a current ratio of 1.35, a quick ratio of 0.49 and a debt-to-equity ratio of 0.07.

Several large investors have recently added to or reduced their stakes in the company. Point72 Hong Kong Ltd acquired a new position in shares of Genesco during the 3rd quarter worth about $51,000. BNP Paribas Arbitrage SA grew its stake in Genesco by 170.6% in the third quarter. BNP Paribas Arbitrage SA now owns 3,691 shares of the company’s stock worth $80,000 after purchasing an additional 2,327 shares in the last quarter. Public Employees Retirement System of Ohio grew its stake in Genesco by 14.7% in the second quarter. Public Employees Retirement System of Ohio now owns 5,884 shares of the company’s stock worth $127,000 after purchasing an additional 752 shares in the last quarter. Wedge Capital Management L L P NC acquired a new position in Genesco in the fourth quarter worth about $210,000. Finally, Aperio Group LLC acquired a new position in Genesco in the third quarter worth about $235,000. Institutional investors own 86.31% of the company’s stock.

In other news, Director Thurgood Marshall, Jr. sold 2,000 shares of Genesco stock in a transaction on Tuesday, January 12th. The shares were sold at an average price of $39.15, for a total value of $78,300.00. Following the completion of the sale, the director now owns 14,277 shares in the company, valued at approximately $558,944.55. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 4.80% of the stock is currently owned by insiders.

About Genesco

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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