Guess? (GES) Raised to Hold at Zacks Investment Research
Zacks Investment Research upgraded shares of Guess? (NYSE:GES) from a sell rating to a hold rating in a research note issued to investors on Wednesday morning.
According to Zacks, “Guess? has been facing a tough retail environment in the Americas, due to lower consumer spending. As a result, the company has resorted to store closures in these regions to focus on other prospective areas. Also, the company remains exposed to the unfavorable currency fluctuations. Consequently, Guess? has lagged the industry in the past three months. Nonetheless, the company has a solid earnings susprise history. Evidently, the third quarter of fiscal 2018 marked its third straight earnings beat. During the quarter, the company’s performance gained from continued strength in European and Asia business segments. The regions have been depicting robust growth backed by store openings, positive comps and wholesale growth. Driven by such upsides, management raised fiscal 2018 earnings view. Also, management is optimistic about e-commerce business that has been improving steadily. Estimates have been stable lately ahead of earnings.”
GES has been the subject of a number of other reports. B. Riley restated a hold rating and set a $17.00 price objective on shares of Guess? in a research note on Tuesday, January 9th. KeyCorp restated a sector weight rating on shares of Guess? in a research note on Tuesday. Finally, Cowen restated a hold rating and set a $17.00 price objective on shares of Guess? in a research note on Wednesday, November 22nd. One research analyst has rated the stock with a sell rating, seven have given a hold rating and three have given a buy rating to the company’s stock. The stock has a consensus rating of Hold and a consensus price target of $15.21.
Guess? (NYSE:GES) last posted its quarterly earnings data on Tuesday, November 21st. The company reported $0.12 EPS for the quarter, topping the Zacks’ consensus estimate of $0.11 by $0.01. Guess? had a negative net margin of 0.10% and a positive return on equity of 4.35%. The company had revenue of $554.00 million during the quarter, compared to the consensus estimate of $569.75 million. During the same period in the prior year, the business posted $0.11 EPS. The company’s quarterly revenue was up 3.3% on a year-over-year basis. analysts predict that Guess? will post 0.61 earnings per share for the current year.
In other news, Director Kay Isaacson-Leibowitz sold 4,000 shares of the company’s stock in a transaction dated Wednesday, December 20th. The shares were sold at an average price of $17.73, for a total value of $70,920.00. Following the sale, the director now directly owns 38,433 shares of the company’s stock, valued at approximately $681,417.09. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 29.60% of the stock is currently owned by corporate insiders.
Hedge funds have recently modified their holdings of the company. Cubist Systematic Strategies LLC bought a new stake in shares of Guess? in the 2nd quarter valued at about $129,000. Amundi Pioneer Asset Management Inc. bought a new stake in shares of Guess? in the 4th quarter valued at about $133,000. Old Mutual Global Investors UK Ltd. bought a new stake in shares of Guess? in the 4th quarter valued at about $157,000. Piedmont Investment Advisors LLC bought a new stake in shares of Guess? in the 2nd quarter valued at about $168,000. Finally, Invictus RG bought a new stake in shares of Guess? in the 3rd quarter valued at about $256,000. 79.12% of the stock is currently owned by institutional investors.
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Guess? Company Profile
Guess?, Inc designs, markets, distributes and licenses a lifestyle collections of apparel and accessories for men, women and children. The Company operates through five segments: Americas Retail, Europe, Asia, Americas Wholesale and Licensing. The Americas Retail segment includes the Company’s retail and e-commerce operations in North and Central America and its retail operations in South America.
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