Genesco (GCO) Announces Earnings Results, Misses Estimates By $0.10 EPS
Genesco (NYSE:GCO) posted its quarterly earnings results on Friday. The company reported $1.02 EPS for the quarter, missing the Zacks’ consensus estimate of $1.12 by ($0.10), Bloomberg Earnings reports. The firm had revenue of $716.80 million during the quarter, compared to analyst estimates of $706.58 million. Genesco had a return on equity of 7.36% and a net margin of 2.43%. The firm’s revenue for the quarter was up .8% on a year-over-year basis. During the same quarter last year, the business posted $1.28 earnings per share.
Shares of Genesco (GCO) traded down $0.15 during mid-day trading on Friday, reaching $31.10. The company’s stock had a trading volume of 939,900 shares, compared to its average volume of 403,604. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.47 and a current ratio of 2.38. Genesco has a 12 month low of $20.90 and a 12 month high of $72.00. The firm has a market capitalization of $619.48, a P/E ratio of 9.06, a P/E/G ratio of 0.94 and a beta of 1.27.
In other Genesco news, Chairman Robert J. Dennis acquired 25,000 shares of Genesco stock in a transaction dated Wednesday, September 6th. The stock was acquired at an average cost of $23.81 per share, for a total transaction of $595,250.00. Following the completion of the transaction, the chairman now owns 224,935 shares in the company, valued at approximately $5,355,702.35. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, SVP Mimi Eckel Vaughn acquired 10,000 shares of Genesco stock in a transaction dated Wednesday, September 6th. The shares were acquired at an average price of $24.16 per share, with a total value of $241,600.00. Following the completion of the transaction, the senior vice president now owns 87,140 shares of the company’s stock, valued at approximately $2,105,302.40. The disclosure for this purchase can be found here. Insiders own 3.30% of the company’s stock.
A number of equities analysts recently commented on the company. UBS downgraded Genesco from a “positive” rating to a “neutral” rating in a research note on Monday, August 28th. BidaskClub upgraded Genesco from a “strong sell” rating to a “sell” rating in a research note on Friday, August 25th. Jefferies Group reiterated a “hold” rating and issued a $27.00 price target on shares of Genesco in a research note on Thursday, October 12th. ValuEngine upgraded Genesco from a “hold” rating to a “buy” rating in a research note on Monday, October 2nd. Finally, Buckingham Research decreased their target price on Genesco from $38.00 to $23.00 and set a “neutral” rating for the company in a research note on Friday, September 1st. One research analyst has rated the stock with a sell rating, six have given a hold rating and four have given a buy rating to the company. Genesco currently has an average rating of “Hold” and an average price target of $33.29.
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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