Zacks: Brokerages Expect Genesco Inc. (GCO) to Post -$0.05 EPS

Equities analysts expect Genesco Inc. (NYSE:GCO) to post earnings of ($0.05) per share for the current quarter, Zacks Investment Research reports. Four analysts have made estimates for Genesco’s earnings, with estimates ranging from ($0.21) to $0.00. Genesco posted earnings of $0.34 per share in the same quarter last year, which indicates a negative year-over-year growth rate of 114.7%. The firm is scheduled to announce its next earnings report on Thursday, September 7th.

According to Zacks, analysts expect that Genesco will report full-year earnings of $3.92 per share for the current fiscal year, with EPS estimates ranging from $3.85 to $3.97. For the next year, analysts anticipate that the business will report earnings of $4.32 per share, with EPS estimates ranging from $3.77 to $4.80. Zacks’ EPS calculations are a mean average based on a survey of research firms that that provide coverage for Genesco.

Genesco (NYSE:GCO) last released its earnings results on Thursday, May 25th. The company reported $0.06 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.28 by $0.22. Genesco had a return on equity of 8.41% and a net margin of 3.07%. The company had revenue of $643.40 million during the quarter, compared to analyst estimates of $644.15 million. During the same period in the prior year, the business posted $0.62 earnings per share. Genesco’s revenue was down .8% on a year-over-year basis.

A number of equities analysts have recently weighed in on the company. ValuEngine downgraded Genesco from a “buy” rating to a “hold” rating in a report on Friday, June 2nd. Zacks Investment Research downgraded Genesco from a “hold” rating to a “strong sell” rating in a report on Thursday, June 1st. Morgan Stanley reiterated an “equal weight” rating and issued a $38.00 target price (down previously from $59.00) on shares of Genesco in a report on Thursday, June 1st. B. Riley reiterated a “buy” rating and issued a $50.00 target price on shares of Genesco in a report on Thursday, June 1st. Finally, Susquehanna Bancshares Inc reiterated a “positive” rating and issued a $43.00 target price (down previously from $66.00) on shares of Genesco in a report on Tuesday, May 30th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and four have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $53.57.

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Genesco (GCO) traded up 0.62% during midday trading on Friday, hitting $32.55. 132,301 shares of the company traded hands. The company has a market cap of $637.75 million, a PE ratio of 7.31 and a beta of 1.17. The stock has a 50 day moving average price of $42.84 and a 200-day moving average price of $55.19. Genesco has a 12-month low of $31.80 and a 12-month high of $74.21.

In other news, Director Kevin Patrick Mcdermott purchased 1,340 shares of the stock in a transaction that occurred on Thursday, June 1st. The stock was acquired at an average price of $37.18 per share, with a total value of $49,821.20. Following the purchase, the director now owns 5,192 shares in the company, valued at approximately $193,038.56. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 3.30% of the company’s stock.

Several large investors have recently made changes to their positions in GCO. Envestnet Asset Management Inc. boosted its stake in shares of Genesco by 34.3% in the fourth quarter. Envestnet Asset Management Inc. now owns 1,860 shares of the company’s stock valued at $116,000 after buying an additional 475 shares during the last quarter. Quantbot Technologies LP purchased a new stake in shares of Genesco during the first quarter valued at approximately $105,000. PNC Financial Services Group Inc. boosted its stake in shares of Genesco by 44.0% in the first quarter. PNC Financial Services Group Inc. now owns 2,538 shares of the company’s stock valued at $142,000 after buying an additional 775 shares during the last quarter. SG Americas Securities LLC boosted its stake in shares of Genesco by 25.1% in the first quarter. SG Americas Securities LLC now owns 2,815 shares of the company’s stock valued at $156,000 after buying an additional 565 shares during the last quarter. Finally, Public Employees Retirement System of Ohio boosted its stake in shares of Genesco by 8.5% in the first quarter. Public Employees Retirement System of Ohio now owns 3,660 shares of the company’s stock valued at $203,000 after buying an additional 287 shares during the last quarter.

Genesco Company Profile

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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