Jefferies Financial Group Research Analysts Lift Earnings Estimates for Genesco Inc. (NYSE:GCO)


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Genesco Inc. (NYSE:GCO) – Investment analysts at Jefferies Financial Group raised their FY2021 EPS estimates for Genesco in a research note issued on Monday, January 11th. Jefferies Financial Group analyst J. Stichter now forecasts that the company will earn ($1.96) per share for the year, up from their previous forecast of ($2.27). Jefferies Financial Group also issued estimates for Genesco’s Q4 2021 earnings at $2.00 EPS, FY2022 earnings at $4.11 EPS and FY2023 earnings at $4.81 EPS.

Genesco (NYSE:GCO) last released its quarterly earnings results on Thursday, December 3rd. The company reported $0.85 earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.14) by $0.99. The company had revenue of $479.30 million during the quarter, compared to analysts’ expectations of $457.21 million. Genesco had a negative return on equity of 2.50% and a negative net margin of 6.06%. The business’s revenue for the quarter was down 10.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.33 earnings per share.

GCO has been the topic of several other reports. Zacks Investment Research upgraded Genesco from a “sell” rating to a “hold” rating in a research report on Wednesday, November 4th. ValuEngine lowered Genesco from a “strong-buy” rating to a “buy” rating in a report on Thursday, December 10th. CL King lifted their target price on Genesco from $28.00 to $40.00 and gave the stock a “buy” rating in a research report on Friday, November 27th. Finally, Pivotal Research lifted their target price on shares of Genesco from $37.00 to $43.00 and gave the company a “buy” rating in a research note on Tuesday. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the company. The company presently has an average rating of “Buy” and an average price target of $32.60.

Shares of GCO opened at $37.28 on Thursday. The company has a debt-to-equity ratio of 0.07, a quick ratio of 0.49 and a current ratio of 1.35. The stock has a 50-day moving average price of $30.70 and a 200 day moving average price of $23.17. Genesco has a one year low of $5.51 and a one year high of $45.32. The company has a market capitalization of $558.90 million, a P/E ratio of -4.73 and a beta of 2.14.

Several institutional investors have recently modified their holdings of the stock. FMR LLC lifted its position in shares of Genesco by 16.5% during the 2nd quarter. FMR LLC now owns 1,200,962 shares of the company’s stock valued at $26,013,000 after buying an additional 169,894 shares in the last quarter. Nuveen Asset Management LLC increased its holdings in shares of Genesco by 4.8% in the second quarter. Nuveen Asset Management LLC now owns 135,853 shares of the company’s stock valued at $2,943,000 after purchasing an additional 6,280 shares during the period. Sei Investments Co. acquired a new position in shares of Genesco in the third quarter valued at approximately $450,000. Victory Capital Management Inc. increased its holdings in shares of Genesco by 16.5% in the third quarter. Victory Capital Management Inc. now owns 67,526 shares of the company’s stock valued at $1,454,000 after purchasing an additional 9,539 shares during the period. Finally, Public Employees Retirement System of Ohio increased its holdings in shares of Genesco by 14.7% in the second quarter. Public Employees Retirement System of Ohio now owns 5,884 shares of the company’s stock valued at $127,000 after purchasing an additional 752 shares during the period. Institutional investors own 86.31% of the company’s stock.

In other Genesco news, Director Thurgood Marshall, Jr. sold 2,000 shares of the business’s stock in a transaction that occurred on Tuesday, January 12th. The shares were sold at an average price of $39.15, for a total value of $78,300.00. Following the completion of the transaction, the director now owns 14,277 shares of the company’s stock, valued at approximately $558,944.55. The transaction was disclosed in a filing with the SEC, which is available through this link. Corporate insiders own 4.80% of the company’s stock.

Genesco Company Profile

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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