Genesco Inc. to Post Q1 2018 Earnings of $0.20 Per Share, B. Riley Forecasts (GCO)

Genesco Inc. (NYSE:GCO) – Research analysts at B. Riley cut their Q1 2018 earnings per share (EPS) estimates for Genesco in a research note issued on Monday. B. Riley analyst M. Kummetz now expects that the company will post earnings of $0.20 per share for the quarter, down from their previous forecast of $0.40. B. Riley has a “Buy” rating and a $56.00 price objective on the stock. B. Riley also issued estimates for Genesco’s FY2018 earnings at $4.35 EPS, FY2019 earnings at $4.80 EPS and FY2020 earnings at $5.30 EPS.

Genesco (NYSE:GCO) last announced its quarterly earnings data on Thursday, May 25th. The company reported $0.06 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.28 by $0.22. Genesco had a net margin of 3.34% and a return on equity of 10.10%. The firm had revenue of $643.40 million for the quarter, compared to analysts’ expectations of $644.15 million. During the same period last year, the company posted $0.62 earnings per share. The business’s revenue for the quarter was down .8% compared to the same quarter last year.

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Earnings History and Estimates for Genesco (NYSE:GCO)

Other equities research analysts have also issued research reports about the company. TheStreet lowered Genesco from a “b-” rating to a “c+” rating in a research note on Monday, February 6th. Piper Jaffray Companies upgraded Genesco from a “neutral” rating to an “overweight” rating and dropped their price target for the stock from $63.00 to $62.00 in a research note on Thursday, April 20th. Zacks Investment Research upgraded Genesco from a “sell” rating to a “hold” rating in a research note on Thursday, May 18th. Susquehanna Bancshares Inc upgraded Genesco from a “neutral” rating to a “positive” rating and set a $66.00 price target on the stock in a research note on Wednesday, April 26th. Finally, Jefferies Group LLC set a $62.00 price target on Genesco and gave the stock a “hold” rating in a research note on Thursday, April 20th. Four investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $62.86.

Shares of Genesco (NYSE:GCO) opened at 44.55 on Wednesday. Genesco has a 12 month low of $44.15 and a 12 month high of $74.21. The company’s 50-day moving average is $51.37 and its 200 day moving average is $58.95. The stock has a market capitalization of $873.67 million, a P/E ratio of 9.23 and a beta of 1.28.

A number of large investors have recently modified their holdings of GCO. BlackRock Advisors LLC raised its stake in shares of Genesco by 58.2% in the third quarter. BlackRock Advisors LLC now owns 24,852 shares of the company’s stock worth $1,353,000 after buying an additional 9,139 shares in the last quarter. BlackRock Inc. raised its stake in shares of Genesco by 2.4% in the third quarter. BlackRock Inc. now owns 5,974 shares of the company’s stock worth $325,000 after buying an additional 141 shares in the last quarter. Teachers Advisors LLC raised its stake in shares of Genesco by 1.3% in the third quarter. Teachers Advisors LLC now owns 32,894 shares of the company’s stock worth $1,791,000 after buying an additional 415 shares in the last quarter. Rhumbline Advisers raised its stake in shares of Genesco by 5.5% in the third quarter. Rhumbline Advisers now owns 34,240 shares of the company’s stock worth $1,865,000 after buying an additional 1,774 shares in the last quarter. Finally, Municipal Employees Retirement System of Michigan raised its stake in shares of Genesco by 1.8% in the third quarter. Municipal Employees Retirement System of Michigan now owns 4,640 shares of the company’s stock worth $253,000 after buying an additional 80 shares in the last quarter. Hedge funds and other institutional investors own 95.46% of the company’s stock.

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.

12 Month Chart for NYSE:GCO

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