Genesco Inc. (GCO) Expected to Post Earnings of $2.30 Per Share

Brokerages expect Genesco Inc. (NYSE:GCO) to announce $2.30 earnings per share (EPS) for the current fiscal quarter, according to Zacks Investment Research. Two analysts have provided estimates for Genesco’s earnings. The lowest EPS estimate is $2.29 and the highest is $2.31. Genesco reported earnings per share of $2.15 in the same quarter last year, which suggests a positive year over year growth rate of 7%. The company is expected to report its next quarterly earnings report on Thursday, March 14th.

According to Zacks, analysts expect that Genesco will report full year earnings of $3.27 per share for the current fiscal year, with EPS estimates ranging from $3.25 to $3.28. For the next year, analysts forecast that the company will report earnings of $3.62 per share, with EPS estimates ranging from $3.55 to $3.68. Zacks Investment Research’s EPS calculations are a mean average based on a survey of research analysts that cover Genesco.

Genesco (NYSE:GCO) last released its quarterly earnings data on Thursday, March 14th. The company reported $2.18 earnings per share for the quarter, missing analysts’ consensus estimates of $2.33 by ($0.15). The firm had revenue of $675.50 million during the quarter, compared to analysts’ expectations of $914.85 million. Genesco had a net margin of 2.31% and a return on equity of 7.21%. The firm’s quarterly revenue was down 2.0% on a year-over-year basis. During the same period in the previous year, the firm posted $2.15 EPS.



GCO has been the topic of a number of recent research reports. ValuEngine lowered shares of Genesco from a “buy” rating to a “hold” rating in a research report on Wednesday, November 21st. Piper Jaffray Companies set a $41.00 price target on shares of Genesco and gave the stock a “hold” rating in a research report on Friday, November 30th. Pivotal Research restated a “buy” rating and set a $52.00 price target on shares of Genesco in a research report on Monday, December 3rd. Zacks Investment Research lowered shares of Genesco from a “hold” rating to a “sell” rating in a report on Monday, December 3rd. Finally, TheStreet upgraded shares of Genesco from a “c+” rating to a “b” rating in a report on Tuesday, January 8th. Nine equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $43.00.

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

Genesco declared that its board has authorized a stock repurchase plan on Friday, December 14th that permits the company to repurchase $125.00 million in outstanding shares. This repurchase authorization permits the company to purchase up to 14.7% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s board of directors believes its stock is undervalued.

In other Genesco news, CEO Robert J. Dennis sold 11,380 shares of the business’s stock in a transaction dated 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 directly owns 261,361 shares in the company, valued at approximately $12,320,557.54. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Marty G. Dickens sold 5,000 shares of the business’s stock in a transaction dated Tuesday, January 29th. The shares were 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 $919,611. The disclosure for this sale can be found here. Insiders sold a total of 16,880 shares of company stock worth $807,953 over the last quarter. 4.30% of the stock is currently owned by company insiders.

Several institutional investors have recently added to or reduced their stakes in the company. PNC Financial Services Group Inc. raised its stake in shares of Genesco by 24.4% in the 4th quarter. PNC Financial Services Group Inc. now owns 1,350 shares of the company’s stock valued at $60,000 after acquiring an additional 265 shares during the period. Thrivent Financial for Lutherans raised its stake in shares of Genesco by 2.2% in the 4th quarter. Thrivent Financial for Lutherans now owns 14,266 shares of the company’s stock valued at $632,000 after acquiring an additional 313 shares during the period. Meeder Asset Management Inc. raised its stake in shares of Genesco by 112.3% in the 4th quarter. Meeder Asset Management Inc. now owns 603 shares of the company’s stock valued at $27,000 after acquiring an additional 319 shares during the period. Gotham Asset Management LLC raised its stake in shares of Genesco by 6.6% in the 4th quarter. Gotham Asset Management LLC now owns 6,718 shares of the company’s stock valued at $298,000 after acquiring an additional 415 shares during the period. Finally, Texas Permanent School Fund raised its stake in shares of Genesco by 5.5% in the 4th quarter. Texas Permanent School Fund now owns 13,214 shares of the company’s stock valued at $585,000 after acquiring an additional 683 shares during the period.

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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