Wall Street analysts expect Genesco Inc. (NYSE:GCO) to announce earnings of $0.04 per share for the current quarter, according to Zacks Investment Research. Two analysts have made estimates for Genesco’s earnings. The highest EPS estimate is $0.04 and the lowest is $0.03. Genesco posted earnings of ($0.06) per share during the same quarter last year, which suggests a positive year-over-year growth rate of 166.7%. The business is expected to announce its next earnings report before the market opens on Friday, May 31st.
According to Zacks, analysts expect that Genesco will report full year earnings of $3.50 per share for the current fiscal year. For the next fiscal year, analysts expect that the firm will post earnings of $3.91 per share, with EPS estimates ranging from $3.82 to $4.00. Zacks’ EPS calculations are an average based on a survey of sell-side research firms that that provide coverage for Genesco.
Genesco (NYSE:GCO) last announced its quarterly earnings results on Thursday, March 14th. The company reported $2.18 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.30 by ($0.12). Genesco had a negative net margin of 1.93% and a positive return on equity of 7.52%. The business had revenue of $675.50 million for the quarter, compared to analyst estimates of $914.85 million. During the same period in the prior year, the business earned $2.15 EPS. The company’s revenue for the quarter was down 2.0% compared to the same quarter last year.
Several institutional investors and hedge funds have recently bought and sold shares of GCO. Norges Bank acquired a new stake in shares of Genesco during the fourth quarter worth $15,601,000. Canada Pension Plan Investment Board lifted its holdings in shares of Genesco by 99.7% during the fourth quarter. Canada Pension Plan Investment Board now owns 595,200 shares of the company’s stock worth $26,365,000 after buying an additional 297,144 shares in the last quarter. WINTON GROUP Ltd acquired a new stake in shares of Genesco during the fourth quarter worth $11,625,000. Morgan Stanley lifted its holdings in shares of Genesco by 128.6% during the third quarter. Morgan Stanley now owns 314,676 shares of the company’s stock worth $14,821,000 after buying an additional 177,047 shares in the last quarter. Finally, Prudential Financial Inc. lifted its holdings in shares of Genesco by 40.1% during the fourth quarter. Prudential Financial Inc. now owns 553,889 shares of the company’s stock worth $24,537,000 after buying an additional 158,448 shares in the last quarter.
Genesco stock traded up $0.18 during mid-day trading on Friday, hitting $42.80. 437,023 shares of the company’s stock traded hands, compared to its average volume of 308,467. Genesco has a fifty-two week low of $37.00 and a fifty-two week high of $51.85. The company has a market capitalization of $756.55 million, a price-to-earnings ratio of 13.05, a P/E/G ratio of 2.49 and a beta of 0.70. The company has a debt-to-equity ratio of 0.08, a current ratio of 2.65 and a quick ratio of 1.32.
Genesco announced that its Board of Directors has initiated a stock repurchase plan on Friday, May 3rd that allows the company to buyback $100.00 million in shares. This buyback authorization allows the company to buy up to 11.7% of its shares through open market purchases. Shares buyback plans are generally a sign that the company’s board of directors believes its stock is undervalued.
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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