FY2018 EPS Estimates for Genesco Inc. (GCO) Lowered by Analyst

Genesco Inc. (NYSE:GCO) – Equities researchers at Jefferies Group cut their FY2018 earnings estimates for shares of Genesco in a research note issued to investors on Monday. Jefferies Group analyst J. Stichter now anticipates that the company will post earnings per share of $3.09 for the year, down from their prior estimate of $3.10. Jefferies Group currently has a “Buy” rating on the stock. Jefferies Group also issued estimates for Genesco’s Q4 2018 earnings at $2.11 EPS.

Several other research firms have also recently issued reports on GCO. Robert W. Baird reiterated a “hold” rating and issued a $35.00 price objective on shares of Genesco in a research report on Wednesday, January 3rd. SunTrust Banks increased their price objective on Genesco to $39.00 and gave the stock a “buy” rating in a research report on Tuesday. Zacks Investment Research upgraded Genesco from a “strong sell” rating to a “hold” rating in a research report on Thursday, January 4th. ValuEngine cut Genesco from a “buy” rating to a “hold” rating in a research report on Sunday, December 31st. Finally, Piper Jaffray Companies set a $35.00 price objective on Genesco and gave the stock a “buy” rating in a research report on Wednesday, November 29th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and four have given a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus price target of $34.25.

Genesco (NYSE:GCO) traded up $0.20 during trading hours on Wednesday, reaching $35.30. The company’s stock had a trading volume of 489,673 shares, compared to its average volume of 660,878. The stock has a market capitalization of $702.94, a PE ratio of -5.60, a price-to-earnings-growth ratio of 1.12 and a beta of 1.37. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.31 and a quick ratio of 0.47. Genesco has a 1 year low of $20.90 and a 1 year high of $65.70.

Genesco (NYSE:GCO) last released its quarterly earnings data on Friday, December 1st. The company reported $1.02 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.12 by ($0.10). The business had revenue of $716.80 million during the quarter, compared to analysts’ expectations of $706.58 million. Genesco had a positive return on equity of 6.93% and a negative net margin of 4.24%. The company’s revenue was up .8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.28 EPS.

Hedge funds have recently made changes to their positions in the company. QS Investors LLC purchased a new position in shares of Genesco in the second quarter valued at $1,059,000. Prudential Financial Inc. increased its position in shares of Genesco by 38.7% in the third quarter. Prudential Financial Inc. now owns 332,807 shares of the company’s stock valued at $8,852,000 after buying an additional 92,940 shares in the last quarter. Citadel Advisors LLC increased its position in shares of Genesco by 369.8% in the second quarter. Citadel Advisors LLC now owns 353,341 shares of the company’s stock valued at $11,978,000 after buying an additional 278,134 shares in the last quarter. Teachers Advisors LLC increased its position in shares of Genesco by 16.2% in the second quarter. Teachers Advisors LLC now owns 41,924 shares of the company’s stock valued at $1,421,000 after buying an additional 5,859 shares in the last quarter. Finally, Goldman Sachs Group Inc. increased its position in shares of Genesco by 37.0% in the second quarter. Goldman Sachs Group Inc. now owns 68,756 shares of the company’s stock valued at $2,331,000 after buying an additional 18,558 shares in the last quarter. Institutional investors and hedge funds own 97.65% of the company’s stock.

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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.

Earnings History and Estimates for Genesco (NYSE:GCO)

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