Zacks: Brokerages Anticipate Genesco Inc. (GCO) to Announce $1.15 EPS

Equities research analysts expect Genesco Inc. (NYSE:GCO) to announce $1.15 earnings per share for the current quarter, Zacks Investment Research reports. Three analysts have made estimates for Genesco’s earnings, with estimates ranging from $0.93 to $1.30. Genesco reported earnings of $1.28 per share during the same quarter last year, which indicates a negative year-over-year growth rate of 10.2%. The firm is scheduled to issue its next quarterly earnings report on Friday, December 1st.

According to Zacks, analysts expect that Genesco will report full-year earnings of $3.46 per share for the current fiscal year, with EPS estimates ranging from $3.35 to $3.62. For the next financial year, analysts anticipate that the business will report earnings of $3.47 per share, with EPS estimates ranging from $3.15 to $3.85. Zacks Investment Research’s earnings per share averages are a mean average based on a survey of sell-side research firms that that provide coverage for Genesco.

Genesco (NYSE:GCO) last announced its quarterly earnings data on Thursday, August 31st. The company reported ($0.10) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.06) by ($0.04). The business had revenue of $616.50 million during the quarter, compared to the consensus estimate of $626.93 million. Genesco had a return on equity of 7.36% and a net margin of 2.43%. The company’s revenue was down 1.5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.34 earnings per share.

GCO has been the subject of a number of recent research reports. Piper Jaffray Companies restated a “buy” rating and issued a $39.00 price objective on shares of Genesco in a report on Sunday, October 1st. Zacks Investment Research lowered shares of Genesco from a “hold” rating to a “sell” rating in a report on Wednesday, August 23rd. Jefferies Group LLC restated a “hold” rating and issued a $27.00 price objective on shares of Genesco in a report on Thursday, August 31st. BidaskClub lowered shares of Genesco from a “sell” rating to a “strong sell” rating in a report on Monday, August 14th. Finally, Morgan Stanley lowered their price objective on shares of Genesco from $38.00 to $28.00 and set an “equal weight” rating for the company in a report on Wednesday, September 13th. Two analysts have rated the stock with a sell rating, five have issued a hold rating and four have given a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $32.71.

In other news, SVP Mimi Eckel Vaughn bought 10,000 shares of the firm’s stock in a transaction that occurred on Wednesday, September 6th. The shares were bought at an average cost of $24.16 per share, with a total value of $241,600.00. Following the completion of the purchase, the senior vice president now directly owns 87,140 shares in the company, valued at $2,105,302.40. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Chairman Robert J. Dennis bought 25,000 shares of the firm’s stock in a transaction that occurred on Wednesday, September 6th. The stock was purchased at an average cost of $23.81 per share, for a total transaction of $595,250.00. Following the completion of the purchase, 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. 3.30% of the stock is owned by insiders.

A number of institutional investors have recently modified their holdings of GCO. State of Alaska Department of Revenue increased its position in Genesco by 77.8% during the 2nd quarter. State of Alaska Department of Revenue now owns 3,893 shares of the company’s stock valued at $131,000 after purchasing an additional 1,703 shares during the period. PNC Financial Services Group Inc. increased its position in Genesco by 44.0% during the 1st quarter. PNC Financial Services Group Inc. now owns 2,538 shares of the company’s stock valued at $142,000 after purchasing an additional 775 shares during the period. Tower Research Capital LLC TRC purchased a new position in Genesco during the 2nd quarter valued at $144,000. Public Employees Retirement System of Ohio increased its position in Genesco by 16.9% during the 2nd quarter. Public Employees Retirement System of Ohio now owns 4,278 shares of the company’s stock valued at $145,000 after purchasing an additional 618 shares during the period. Finally, First Quadrant L P CA purchased a new position in Genesco during the 2nd quarter valued at $153,000. 94.65% of the stock is currently owned by institutional investors and hedge funds.

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Shares of Genesco (NYSE:GCO) traded down $0.25 on Friday, hitting $25.00. 224,200 shares of the stock were exchanged, compared to its average volume of 395,896. The company has a market cap of $502.95, a price-to-earnings ratio of 7.45, a price-to-earnings-growth ratio of 0.77 and a beta of 1.27. The company has a current ratio of 2.38, a quick ratio of 0.47 and a debt-to-equity ratio of 0.21. Genesco has a 1 year low of $20.90 and a 1 year high of $72.00.

About Genesco

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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