Analysts Anticipate Genesco Inc. (GCO) Will Post Quarterly Sales of $466.15 Million

Wall Street brokerages expect Genesco Inc. (NYSE:GCO) to announce $466.15 million in sales for the current quarter, according to Zacks. Two analysts have issued estimates for Genesco’s earnings, with the lowest sales estimate coming in at $451.00 million and the highest estimate coming in at $481.30 million. Genesco posted sales of $644.96 million during the same quarter last year, which suggests a negative year over year growth rate of 27.7%. The firm is scheduled to announce its next earnings results on Tuesday, June 4th.

On average, analysts expect that Genesco will report full year sales of $2.19 billion for the current financial year. For the next year, analysts expect that the firm will report sales of $2.23 billion, with estimates ranging from $2.22 billion to $2.24 billion. Zacks’ sales averages are an average based on a survey of sell-side research analysts that cover Genesco.

Genesco (NYSE:GCO) last posted its earnings results on Thursday, March 14th. The company reported $2.18 EPS for the quarter, missing analysts’ consensus estimates of $2.30 by ($0.12). The business had revenue of $675.50 million for the quarter, compared to analysts’ expectations of $914.85 million. Genesco had a negative net margin of 1.93% and a positive return on equity of 7.52%. The company’s revenue for the quarter was down 2.0% on a year-over-year basis. During the same period last year, the business posted $2.15 EPS.

A number of research analysts have commented on the stock. Zacks Investment Research raised shares of Genesco from a “hold” rating to a “buy” rating and set a $52.00 target price on the stock in a research report on Wednesday, February 20th. TheStreet raised shares of Genesco from a “c+” rating to a “b” rating in a research report on Tuesday, January 8th. ValuEngine downgraded shares of Genesco from a “buy” rating to a “hold” rating in a research report on Friday, March 1st. Finally, Pivotal Research set a $52.00 target price on shares of Genesco and gave the company a “buy” rating in a research report on Monday, December 17th. One equities research analyst has rated the stock with a sell rating and seven have assigned a hold rating to the company. The company currently has an average rating of “Hold” and an average price target of $44.17.

NYSE GCO opened at $44.08 on Thursday. The company has a current ratio of 2.66, a quick ratio of 1.33 and a debt-to-equity ratio of 0.08. The stock has a market cap of $919.97 million, a price-to-earnings ratio of 13.44, a price-to-earnings-growth ratio of 2.60 and a beta of 0.71. Genesco has a one year low of $37.00 and a one year high of $51.85.

Genesco declared that its Board of Directors has initiated a share repurchase program on Friday, December 14th that permits the company to repurchase $125.00 million in outstanding shares. This repurchase authorization permits the company to reacquire up to 14.7% of its shares through open market purchases. Shares repurchase programs are often an indication that the company’s leadership believes its shares are undervalued.

In other news, Director Marty G. Dickens sold 5,000 shares of Genesco stock in a transaction that occurred on Tuesday, January 29th. The shares were sold at an average price of $49.50, for a total value of $247,500.00. Following the transaction, the director now owns 18,578 shares of the company’s stock, valued at approximately $919,611. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Robert J. Dennis sold 11,380 shares of Genesco stock in a transaction that occurred on Wednesday, January 23rd. The stock was sold at an average price of $47.14, for a total transaction of $536,453.20. Following the completion of the transaction, the chief executive officer now directly owns 261,361 shares in the company, valued at approximately $12,320,557.54. The disclosure for this sale can be found here. In the last ninety days, insiders sold 16,880 shares of company stock worth $807,953. Insiders own 4.30% of the company’s stock.

Several institutional investors have recently modified their holdings of the company. BlackRock Inc. grew its position in shares of Genesco by 3.6% in the 4th quarter. BlackRock Inc. now owns 2,944,051 shares of the company’s stock worth $130,421,000 after buying an additional 103,596 shares during the last quarter. Vanguard Group Inc. boosted its stake in Genesco by 2.2% in the 3rd quarter. Vanguard Group Inc. now owns 1,920,730 shares of the company’s stock worth $90,466,000 after purchasing an additional 41,294 shares in the last quarter. Vanguard Group Inc boosted its stake in Genesco by 2.2% in the 3rd quarter. Vanguard Group Inc now owns 1,920,730 shares of the company’s stock worth $90,466,000 after purchasing an additional 41,294 shares in the last quarter. FMR LLC boosted its stake in Genesco by 9.3% in the 3rd quarter. FMR LLC now owns 1,122,800 shares of the company’s stock worth $52,884,000 after purchasing an additional 95,644 shares in the last quarter. Finally, Canada Pension Plan Investment Board boosted its stake in Genesco by 99.7% in the 4th quarter. Canada Pension Plan Investment Board now owns 595,200 shares of the company’s stock worth $26,365,000 after purchasing an additional 297,144 shares in the last quarter.

Genesco Company Profile

Genesco Inc retails and wholesales footwear, apparel, and accessories. The company operates in five segments: Journeys Group, Schuh Group, Lids Sports Group, Johnston & Murphy Group, and Licensed Brands. The Journeys Group segment offers footwear and accessories through the Journeys, Journeys Kidz, Shi by Journeys, and Little Burgundy retail chains, as well as through e-commerce and catalogs for young men, women, and children.

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