Genesco Inc. (GCO) Expected to Announce Quarterly Sales of $715.85 Million

Brokerages predict that Genesco Inc. (NYSE:GCO) will post sales of $715.85 million for the current quarter, Zacks reports. Four analysts have provided estimates for Genesco’s earnings, with the highest sales estimate coming in at $720.00 million and the lowest estimate coming in at $708.20 million. Genesco posted sales of $716.76 million during the same quarter last year, which suggests a negative year over year growth rate of 0.1%. The business is scheduled to issue its next quarterly earnings results on Friday, December 7th.

According to Zacks, analysts expect that Genesco will report full-year sales of $2.92 billion for the current year, with estimates ranging from $2.90 billion to $2.95 billion. For the next year, analysts forecast that the firm will post sales of $2.96 billion, with estimates ranging from $2.95 billion to $2.98 billion. Zacks’ sales calculations are an average based on a survey of research analysts that that provide coverage for Genesco.

Genesco (NYSE:GCO) last released its quarterly earnings data on Friday, September 7th. The company reported $0.04 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.04) by $0.08. Genesco had a negative net margin of 3.77% and a positive return on equity of 7.53%. The firm had revenue of $653.90 million for the quarter, compared to the consensus estimate of $641.07 million. During the same quarter in the prior year, the company posted ($0.10) earnings per share. The business’s revenue was up 6.1% on a year-over-year basis.



Several research firms have weighed in on GCO. Jefferies Financial Group downgraded shares of Genesco from a “buy” rating to a “hold” rating and set a $43.00 price objective on the stock. in a report on Tuesday, July 10th. Zacks Investment Research upgraded shares of Genesco from a “sell” rating to a “hold” rating in a report on Friday, August 24th. Macquarie upped their price objective on shares of Genesco from $28.00 to $32.00 and gave the stock a “hold” rating in a report on Monday, September 10th. ValuEngine downgraded shares of Genesco from a “buy” rating to a “hold” rating in a report on Monday, July 2nd. Finally, Pivotal Research set a $55.00 price objective on shares of Genesco and gave the stock a “buy” rating in a report on Monday, September 10th. Eight analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $39.88.

GCO traded up $1.80 during trading on Tuesday, hitting $44.50. 4,030 shares of the company’s stock were exchanged, compared to its average volume of 315,147. The company has a current ratio of 2.43, a quick ratio of 0.53 and a debt-to-equity ratio of 0.10. Genesco has a fifty-two week low of $23.25 and a fifty-two week high of $51.85. The company has a market cap of $841.84 million, a price-to-earnings ratio of 13.98, a PEG ratio of 1.71 and a beta of 1.06.

In other news, Director Kathleen Mason sold 2,000 shares of the stock in a transaction dated Thursday, August 30th. The shares were sold at an average price of $48.91, for a total value of $97,820.00. Following the completion of the sale, the director now owns 43,626 shares in the company, valued at $2,133,747.66. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 4.30% of the company’s stock.

Several hedge funds have recently made changes to their positions in GCO. NumerixS Investment Technologies Inc purchased a new stake in shares of Genesco in the second quarter valued at about $106,000. Piedmont Investment Advisors LLC bought a new position in Genesco during the second quarter valued at about $184,000. Robeco Institutional Asset Management B.V. bought a new position in Genesco during the third quarter valued at about $222,000. Jane Street Group LLC bought a new position in Genesco during the first quarter valued at about $239,000. Finally, Allianz Asset Management GmbH bought a new position in Genesco during the first quarter valued at about $241,000.

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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