Genesco (GCO) Announces Quarterly Earnings Results, Misses Estimates By $0.10 EPS
Genesco (NYSE:GCO) announced its earnings results on Friday. The company reported $1.02 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.12 by ($0.10), Bloomberg Earnings reports. Genesco had a net margin of 2.43% and a return on equity of 7.36%. The firm had revenue of $716.80 million for the quarter, compared to the consensus estimate of $706.58 million. During the same period in the prior year, the business earned $1.28 EPS. The company’s quarterly revenue was up .8% compared to the same quarter last year. Genesco updated its FY18 guidance to $3.05-3.35 EPS.
Shares of Genesco (NYSE GCO) traded down $5.55 during midday trading on Friday, hitting $25.55. The stock had a trading volume of 3,013,982 shares, compared to its average volume of 442,095. Genesco has a twelve month low of $20.90 and a twelve month high of $72.00. The stock has a market capitalization of $508.93, a P/E ratio of 8.16, a price-to-earnings-growth ratio of 0.80 and a beta of 1.36. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.47 and a current ratio of 2.38.
Several brokerages recently weighed in on GCO. Susquehanna Bancshares reaffirmed a “hold” rating and set a $30.00 target price on shares of Genesco in a research note on Tuesday, November 28th. Piper Jaffray Companies set a $35.00 target price on Genesco and gave the company a “buy” rating in a research note on Wednesday. Jefferies Group set a $48.00 target price on Genesco and gave the company a “hold” rating in a research note on Saturday, August 19th. Buckingham Research raised their target price on Genesco from $23.00 to $30.00 and gave the company a “neutral” rating in a research note on Monday, November 20th. Finally, SunTrust Banks set a $33.00 target price on Genesco and gave the company a “buy” rating in a research note on Monday, October 16th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and four have issued a buy rating to the stock. Genesco has an average rating of “Hold” and an average target price of $33.29.
In related news, SVP Mimi Eckel Vaughn bought 10,000 shares of Genesco stock in a transaction dated Wednesday, September 6th. The stock was acquired at an average cost of $24.16 per share, with a total value of $241,600.00. Following the completion of the acquisition, the senior vice president now directly owns 87,140 shares in the company, valued at approximately $2,105,302.40. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Chairman Robert J. Dennis bought 25,000 shares of Genesco stock in a transaction dated Wednesday, September 6th. The shares were bought at an average cost of $23.81 per share, with a total value of $595,250.00. Following the completion of the acquisition, the chairman now owns 224,935 shares of the company’s stock, valued at $5,355,702.35. The disclosure for this purchase can be found here. Corporate insiders own 3.30% of the company’s stock.
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Genesco Company Profile
Genesco Inc is a retailer and wholesaler of footwear, apparel and accessories. The Company operates in five segments: Journeys Group, Schuh Group, Lids Sports Group, Johnston & Murphy Group and Licensed Brands. It relies on independent third-party manufacturers for production of its footwear products sold at wholesale.
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