Zacks: Analysts Anticipate Genesco Inc. (NYSE:GCO) to Announce -$0.03 Earnings Per Share

Wall Street analysts expect Genesco Inc. (NYSE:GCO) to report earnings per share of ($0.03) for the current fiscal quarter, Zacks Investment Research reports. Two analysts have issued estimates for Genesco’s earnings. The lowest EPS estimate is ($0.08) and the highest is $0.02. Genesco reported earnings per share of $0.04 in the same quarter last year, which would suggest a negative year over year growth rate of 175%. The firm is expected to report its next earnings report on Friday, September 6th.

According to Zacks, analysts expect that Genesco will report full year earnings of $3.67 per share for the current financial year, with EPS estimates ranging from $3.60 to $3.73. For the next financial year, analysts anticipate that the company will report earnings of $4.11 per share, with EPS estimates ranging from $3.92 to $4.30. Zacks Investment Research’s earnings per share averages are an average based on a survey of research firms that cover Genesco.

Genesco (NYSE:GCO) last released its earnings results on Friday, May 31st. The company reported $0.33 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.04 by $0.29. The company had revenue of $495.70 million during the quarter, compared to analyst estimates of $479.36 million. Genesco had a negative net margin of 1.70% and a positive return on equity of 8.85%. The firm’s quarterly revenue was up 2.0% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.06) EPS.

GCO has been the subject of a number of research analyst reports. TheStreet lowered shares of Genesco from a “b” rating to a “c+” rating in a report on Wednesday, June 5th. Pivotal Research reaffirmed a “hold” rating and set a $45.00 price objective on shares of Genesco in a report on Monday, June 3rd. Finally, Zacks Investment Research raised shares of Genesco from a “sell” rating to a “hold” rating in a report on Tuesday, May 14th. Five analysts have rated the stock with a hold rating and one has assigned a strong buy rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $42.60.

Genesco stock traded down $0.01 during midday trading on Wednesday, hitting $41.77. The stock had a trading volume of 115,095 shares, compared to its average volume of 317,542. The company has a quick ratio of 0.64, a current ratio of 1.65 and a debt-to-equity ratio of 1.13. Genesco has a 52-week low of $37.00 and a 52-week high of $51.85. The stock has a fifty day moving average of $43.50. The stock has a market capitalization of $704.20 million, a P/E ratio of 12.73, a PEG ratio of 2.32 and a beta of 0.55.

Genesco declared that its board has approved a share repurchase plan on Friday, May 3rd that permits the company to buyback $100.00 million in shares. This buyback authorization permits the company to purchase up to 11.7% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s board believes its shares are undervalued.

In other news, Director Thurgood Marshall, Jr. sold 1,690 shares of the stock in a transaction that occurred on Friday, June 14th. The stock was sold at an average price of $44.57, for a total transaction of $75,323.30. Following the completion of the transaction, the director now directly owns 9,724 shares in the company, valued at approximately $433,398.68. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 4.40% of the stock is currently owned by corporate insiders.

Hedge funds and other institutional investors have recently bought and sold shares of the company. PNC Financial Services Group Inc. boosted its position in shares of Genesco by 24.4% during the 4th quarter. PNC Financial Services Group Inc. now owns 1,350 shares of the company’s stock valued at $60,000 after acquiring an additional 265 shares during the last quarter. Meeder Asset Management Inc. boosted its position in shares of Genesco by 303.8% during the 1st quarter. Meeder Asset Management Inc. now owns 2,435 shares of the company’s stock valued at $112,000 after acquiring an additional 1,832 shares during the last quarter. Investors Research Corp bought a new position in shares of Genesco during the 1st quarter valued at approximately $146,000. NumerixS Investment Technologies Inc boosted its position in shares of Genesco by 500.0% during the 1st quarter. NumerixS Investment Technologies Inc now owns 3,600 shares of the company’s stock valued at $164,000 after acquiring an additional 3,000 shares during the last quarter. Finally, Pinnacle Financial Partners Inc. bought a new position in shares of Genesco during the 1st quarter valued at approximately $205,000. Hedge funds and other institutional investors own 94.74% of the company’s stock.

About Genesco

Genesco Inc operates as a retailer and wholesaler of footwear, apparel, and accessories. The company operates through four segments: Journeys Group, Schuh Group, Johnston & Murphy Group, and Licensed Brands. The Journeys Group segment offers footwear and accessories through the Journeys, Journeys Kidz, and Little Burgundy retail chains, as well as through e-commerce and catalogs for young men, women, and children.

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