Brokerages Expect Genesco Inc. (NYSE:GCO) Will Post Earnings of -$0.07 Per Share

Equities research analysts forecast that Genesco Inc. (NYSE:GCO) will announce ($0.07) earnings per share for the current fiscal quarter, Zacks reports. Three analysts have provided estimates for Genesco’s earnings, with the highest EPS estimate coming in at $0.01 and the lowest estimate coming in at ($0.19). Genesco posted earnings of ($1.23) per share in the same quarter last year, which would indicate a positive year over year growth rate of 94.3%. The firm is scheduled to issue its next earnings results on Thursday, September 2nd.

According to Zacks, analysts expect that Genesco will report full-year earnings of $4.33 per share for the current financial year, with EPS estimates ranging from $3.50 to $5.09. For the next year, analysts anticipate that the company will post earnings of $5.07 per share, with EPS estimates ranging from $4.75 to $5.51. Zacks Investment Research’s EPS averages are an average based on a survey of research analysts that that provide coverage for Genesco.

Genesco (NYSE:GCO) last issued its quarterly earnings data on Wednesday, May 26th. The company reported $0.79 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.53) by $1.32. Genesco had a return on equity of 8.94% and a net margin of 4.26%. The company had revenue of $538.70 million during the quarter, compared to analyst estimates of $449.15 million. During the same quarter in the previous year, the company posted ($3.65) earnings per share. Genesco’s revenue was up 92.9% compared to the same quarter last year.

Several analysts have issued reports on the company. Zacks Investment Research raised Genesco from a “hold” rating to a “buy” rating and set a $63.00 price target for the company in a report on Monday, May 31st. Pivotal Research upped their price objective on Genesco from $57.00 to $65.00 and gave the stock a “buy” rating in a research note on Wednesday, May 19th. Finally, TheStreet raised Genesco from a “d+” rating to a “c-” rating in a research note on Friday, February 26th.

In other Genesco news, Director Kathleen Mason sold 460 shares of the stock in a transaction on Thursday, May 27th. The stock was sold at an average price of $59.00, for a total transaction of $27,140.00. Following the sale, the director now owns 45,932 shares of the company’s stock, valued at approximately $2,709,988. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Marty G. Dickens sold 5,000 shares of the stock in a transaction on Thursday, March 18th. The shares were sold at an average price of $48.00, for a total value of $240,000.00. Following the sale, the director now directly owns 23,807 shares in the company, valued at approximately $1,142,736. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 5,710 shares of company stock worth $280,140. Insiders own 4.80% of the company’s stock.

Institutional investors and hedge funds have recently modified their holdings of the company. Inspire Advisors LLC purchased a new stake in shares of Genesco during the 4th quarter valued at $28,000. Point72 Hong Kong Ltd purchased a new stake in shares of Genesco during the 1st quarter valued at $41,000. Captrust Financial Advisors lifted its holdings in shares of Genesco by 2,840.0% during the 1st quarter. Captrust Financial Advisors now owns 882 shares of the company’s stock valued at $42,000 after purchasing an additional 852 shares during the last quarter. Meeder Asset Management Inc. lifted its holdings in shares of Genesco by 860.9% during the 1st quarter. Meeder Asset Management Inc. now owns 1,230 shares of the company’s stock valued at $59,000 after purchasing an additional 1,102 shares during the last quarter. Finally, Highland Capital Management Fund Advisors L.P. purchased a new stake in shares of Genesco during the 1st quarter valued at $200,000. Hedge funds and other institutional investors own 90.55% of the company’s stock.

NYSE:GCO traded down $2.79 during mid-day trading on Thursday, hitting $59.06. 2,182 shares of the company traded hands, compared to its average volume of 150,350. The company has a fifty day moving average of $52.39. Genesco has a one year low of $14.07 and a one year high of $62.43. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.97 and a current ratio of 1.63. The company has a market cap of $883.30 million, a price-to-earnings ratio of 9.96 and a beta of 2.24.

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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Earnings History and Estimates for Genesco (NYSE:GCO)

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