Genesco Inc. (NYSE:GCO) Expected to Announce Earnings of $1.10 Per Share

Wall Street brokerages expect Genesco Inc. (NYSE:GCO) to announce $1.10 earnings per share for the current quarter, Zacks reports. Two analysts have made estimates for Genesco’s earnings, with estimates ranging from $1.02 to $1.17. Genesco posted earnings of $0.95 per share during the same quarter last year, which would suggest a positive year over year growth rate of 15.8%. The firm is expected to report its next earnings report on Thursday, December 5th.

According to Zacks, analysts expect that Genesco will report full-year earnings of $4.01 per share for the current year, with EPS estimates ranging from $3.95 to $4.06. For the next fiscal year, analysts forecast that the company will report earnings of $4.45 per share, with EPS estimates ranging from $4.44 to $4.45. Zacks Investment Research’s earnings per share averages are an average based on a survey of research analysts that follow Genesco.

Genesco (NYSE:GCO) last released its quarterly earnings data on Friday, September 6th. The company reported $0.15 EPS for the quarter, topping analysts’ consensus estimates of ($0.03) by $0.18. The company had revenue of $486.57 million for the quarter, compared to the consensus estimate of $491.65 million. Genesco had a positive return on equity of 9.83% and a negative net margin of 1.80%. The company’s quarterly revenue was down .1% compared to the same quarter last year. During the same period last year, the business posted $0.04 EPS.

Several equities research analysts have issued reports on GCO shares. Zacks Investment Research downgraded shares of Genesco from a “strong-buy” rating to a “hold” rating in a research note on Monday, November 11th. Susquehanna Bancshares set a $48.00 target price on shares of Genesco and gave the company a “buy” rating in a research note on Friday, September 6th. Finally, Pivotal Research raised shares of Genesco from a “hold” rating to a “buy” rating and upped their price target for the stock from $40.00 to $48.00 in a research report on Monday, September 9th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the company. Genesco presently has an average rating of “Hold” and a consensus target price of $46.00.

Several hedge funds and other institutional investors have recently modified their holdings of the company. Catalyst Capital Advisors LLC acquired a new position in Genesco during the 3rd quarter worth approximately $720,000. DekaBank Deutsche Girozentrale purchased a new position in shares of Genesco in the second quarter valued at $112,000. Russell Investments Group Ltd. boosted its stake in shares of Genesco by 46.0% in the second quarter. Russell Investments Group Ltd. now owns 154,146 shares of the company’s stock valued at $6,520,000 after purchasing an additional 48,557 shares during the period. Acadian Asset Management LLC grew its holdings in Genesco by 8.1% during the 2nd quarter. Acadian Asset Management LLC now owns 82,233 shares of the company’s stock valued at $3,477,000 after purchasing an additional 6,143 shares in the last quarter. Finally, LSV Asset Management grew its holdings in Genesco by 19.2% during the 2nd quarter. LSV Asset Management now owns 260,900 shares of the company’s stock valued at $11,033,000 after purchasing an additional 42,100 shares in the last quarter.

GCO stock traded down $2.19 during midday trading on Friday, reaching $35.75. 16,839 shares of the company’s stock traded hands, compared to its average volume of 189,394. The company has a market capitalization of $619.00 million, a P/E ratio of 10.99, a PEG ratio of 2.06 and a beta of 0.53. The company has a debt-to-equity ratio of 1.25, a current ratio of 1.43 and a quick ratio of 0.32. Genesco has a fifty-two week low of $31.65 and a fifty-two week high of $50.73. The business has a 50-day moving average price of $39.33 and a two-hundred day moving average price of $40.43.

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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