Guess’ (NYSE:GES) Releases Earnings Results, Beats Expectations By $0.21 EPS

Guess’ (NYSE:GES – Get Rating) issued its quarterly earnings results on Wednesday. The company reported ($0.07) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.28) by $0.21, Briefing.com reports. Guess’ had a return on equity of 33.93% and a net margin of 5.57%. The firm had revenue of $569.80 million during the quarter, compared to analyst estimates of $555.63 million. During the same period last year, the company earned $0.24 EPS. Guess”s quarterly revenue was down 4.0% compared to the same quarter last year. Guess’ updated its Q2 guidance to $0.35-0.42 EPS and its FY24 guidance to $2.60-2.90 EPS.

Guess’ Trading Down 0.8 %

GES traded down $0.14 during trading on Wednesday, hitting $17.37. 1,932,082 shares of the stock were exchanged, compared to its average volume of 768,696. Guess’ has a 1 year low of $14.27 and a 1 year high of $24.15. The firm has a 50 day simple moving average of $18.80 and a 200 day simple moving average of $20.32. The firm has a market cap of $966.81 million, a price-to-earnings ratio of 7.81 and a beta of 1.93. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.92 and a current ratio of 1.59.

Guess’ Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 23rd. Shareholders of record on Wednesday, June 7th will be issued a dividend of $0.30 per share. This is an increase from Guess”s previous quarterly dividend of $0.23. This represents a $1.20 annualized dividend and a yield of 6.91%. Guess”s dividend payout ratio (DPR) is presently 40.36%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the company. StockNews.com assumed coverage on Guess’ in a research note on Thursday, May 18th. They set a “hold” rating for the company. Telsey Advisory Group reissued a “market perform” rating and set a $23.00 price target on shares of Guess’ in a research note on Wednesday, March 15th. Small Cap Consu reissued a “buy” rating on shares of Guess’ in a research note on Tuesday, March 28th. Finally, TheStreet raised Guess’ from a “c” rating to a “b” rating in a research note on Tuesday, March 14th. Two research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat, Guess’ has an average rating of “Moderate Buy” and a consensus target price of $26.00.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in GES. Arrowstreet Capital Limited Partnership grew its stake in Guess’ by 158.6% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 1,170,608 shares of the company’s stock worth $24,220,000 after buying an additional 717,977 shares during the last quarter. Charles Schwab Investment Management Inc. grew its stake in Guess’ by 82.2% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 1,005,259 shares of the company’s stock worth $19,562,000 after buying an additional 453,565 shares during the last quarter. Norges Bank purchased a new position in Guess’ during the 4th quarter worth $6,088,000. Vanguard Group Inc. grew its stake in Guess’ by 4.2% during the 1st quarter. Vanguard Group Inc. now owns 4,555,857 shares of the company’s stock worth $99,546,000 after buying an additional 184,983 shares during the last quarter. Finally, Point72 Asset Management L.P. purchased a new position in Guess’ during the 4th quarter worth $3,718,000. 58.81% of the stock is currently owned by hedge funds and other institutional investors.

About Guess’

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Guess?, Inc engages in designing, marketing, distributing and licensing contemporary apparel and accessories for men, women and children that reflect the American lifestyle and European fashion sensibilities. It operates through the following segments: Americas Retail, Americas Wholesale, Europe, Asia, and Licensing.