Genesco (NYSE:GCO) released its earnings results on Thursday. The company reported $2.18 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.30 by ($0.12), MarketWatch Earnings reports. Genesco had a return on equity of 7.21% and a net margin of 2.31%. The business had revenue of $675.50 million for the quarter, compared to analysts’ expectations of $914.85 million. During the same quarter in the prior year, the business posted $2.15 EPS. The business’s revenue for the quarter was down 2.0% compared to the same quarter last year. Genesco updated its FY 2019 guidance to $3.35-3.75 EPS and its FY20 guidance to $3.35-3.75 EPS.
NYSE GCO opened at $43.13 on Friday. The company has a market cap of $916.54 million, a price-to-earnings ratio of 13.74, a PEG ratio of 2.51 and a beta of 0.72. The company has a debt-to-equity ratio of 0.09, a current ratio of 2.26 and a quick ratio of 0.48. Genesco has a 1-year low of $36.60 and a 1-year high of $51.85.
Genesco declared that its board has authorized a stock repurchase plan on Friday, December 14th that permits the company to buyback $125.00 million in shares. This buyback authorization permits the company to buy up to 14.7% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s board of directors believes its stock is undervalued.
In other Genesco news, Director Marty G. Dickens sold 5,000 shares of the firm’s stock in a transaction that occurred on Tuesday, January 29th. The stock was sold at an average price of $49.50, for a total transaction of $247,500.00. Following the completion of the transaction, the director now owns 18,578 shares in the company, valued at approximately $919,611. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Robert J. Dennis sold 11,380 shares of the firm’s 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 transaction, the chief executive officer now owns 261,361 shares of the company’s stock, valued at approximately $12,320,557.54. The disclosure for this sale can be found here. Insiders have sold a total of 16,880 shares of company stock valued at $807,953 in the last 90 days. 4.30% of the stock is currently owned by company insiders.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Norges Bank bought a new stake in shares of Genesco in the 4th quarter valued at approximately $15,601,000. Canada Pension Plan Investment Board lifted its stake in shares of Genesco by 99.7% in the 4th quarter. Canada Pension Plan Investment Board now owns 595,200 shares of the company’s stock valued at $26,365,000 after purchasing an additional 297,144 shares during the last quarter. WINTON GROUP Ltd bought a new stake in shares of Genesco in the 4th quarter valued at approximately $11,625,000. Morgan Stanley lifted its stake in shares of Genesco by 128.6% in the 3rd quarter. Morgan Stanley now owns 314,676 shares of the company’s stock valued at $14,821,000 after purchasing an additional 177,047 shares during the last quarter. Finally, Prudential Financial Inc. lifted its stake in shares of Genesco by 40.1% in the 4th quarter. Prudential Financial Inc. now owns 553,889 shares of the company’s stock valued at $24,537,000 after purchasing an additional 158,448 shares during the last quarter.
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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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