Genesco (NYSE:GCO) updated its FY19 earnings guidance on Monday. The company provided earnings per share guidance of $3.10-3.40 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $3.25.
Several equities analysts recently commented on the stock. TheStreet upgraded shares of Genesco from a c+ rating to a b rating in a research note on Tuesday, January 8th. Pivotal Research cut shares of Genesco from a buy rating to a hold rating and set a $52.00 target price for the company. in a research note on Wednesday, January 9th. They noted that the move was a valuation call. Zacks Investment Research cut shares of Genesco from a hold rating to a sell rating in a research note on Monday, December 3rd. Piper Jaffray Companies set a $41.00 target price on shares of Genesco and gave the company a hold rating in a research note on Friday, November 30th. Finally, ValuEngine upgraded shares of Genesco from a hold rating to a buy rating in a research note on Tuesday, November 27th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and two have issued a buy rating to the stock. The stock currently has a consensus rating of Hold and a consensus price target of $41.78.
Shares of Genesco stock opened at $47.48 on Monday. The firm has a market capitalization of $992.46 million, a price-to-earnings ratio of 15.12, a price-to-earnings-growth ratio of 2.04 and a beta of 0.77. The company has a debt-to-equity ratio of 0.09, a quick ratio of 0.48 and a current ratio of 2.26. Genesco has a 52-week low of $32.00 and a 52-week high of $51.85.
Genesco (NYSE:GCO) last announced its quarterly earnings results on Thursday, December 6th. The company reported $0.95 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.86 by $0.09. The firm had revenue of $713.10 million for the quarter, compared to analyst estimates of $712.06 million. Genesco had a net margin of 2.31% and a return on equity of 7.21%. The business’s revenue for the quarter was down .5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.02 EPS. Analysts expect that Genesco will post 3.22 EPS for the current fiscal year.
Genesco announced that its Board of Directors has initiated a stock buyback plan on Friday, December 14th that allows the company to repurchase $125.00 million in outstanding shares. This repurchase authorization allows the company to reacquire up to 14.7% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s board of directors believes its stock is undervalued.
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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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