Analysts Expect Genesco Inc. (NYSE:GCO) Will Post Quarterly Sales of $521.05 Million

Wall Street brokerages forecast that Genesco Inc. (NYSE:GCOGet Rating) will post sales of $521.05 million for the current fiscal quarter, according to Zacks. Three analysts have issued estimates for Genesco’s earnings, with the lowest sales estimate coming in at $512.60 million and the highest estimate coming in at $537.00 million. Genesco posted sales of $538.70 million during the same quarter last year, which would indicate a negative year over year growth rate of 3.3%. The business is expected to announce its next earnings report on Monday, January 1st.

On average, analysts expect that Genesco will report full-year sales of $2.48 billion for the current financial year, with estimates ranging from $2.45 billion to $2.52 billion. For the next year, analysts anticipate that the company will report sales of $2.55 billion, with estimates ranging from $2.51 billion to $2.59 billion. Zacks Investment Research’s sales averages are an average based on a survey of analysts that follow Genesco.

Genesco (NYSE:GCOGet Rating) last posted its earnings results on Thursday, March 10th. The company reported $3.48 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.65 by $0.83. Genesco had a return on equity of 18.74% and a net margin of 4.74%. The company had revenue of $727.66 million for the quarter, compared to analysts’ expectations of $726.57 million. During the same period last year, the business posted $2.76 earnings per share. The firm’s quarterly revenue was up 14.3% compared to the same quarter last year.

GCO has been the subject of several recent analyst reports. StockNews.com started coverage on Genesco in a report on Thursday, March 31st. They issued a “buy” rating for the company. Seaport Res Ptn restated a “buy” rating on shares of Genesco in a research note on Tuesday, January 18th. One research analyst has rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Buy” and an average target price of $71.33.

Shares of NYSE:GCO opened at $69.25 on Tuesday. The company has a quick ratio of 1.00, a current ratio of 1.64 and a debt-to-equity ratio of 0.03. The company has a market capitalization of $945.75 million, a PE ratio of 8.65 and a beta of 2.03. The company has a fifty day moving average of $66.50. Genesco has a fifty-two week low of $43.26 and a fifty-two week high of $73.72.

Several institutional investors and hedge funds have recently bought and sold shares of GCO. Barrow Hanley Mewhinney & Strauss LLC purchased a new position in Genesco during the fourth quarter valued at $27,000. Lazard Asset Management LLC bought a new stake in Genesco during the 4th quarter valued at about $32,000. Everence Capital Management Inc. purchased a new position in Genesco during the 4th quarter valued at about $212,000. ProShare Advisors LLC purchased a new position in shares of Genesco in the 4th quarter worth approximately $237,000. Finally, 6 Meridian purchased a new position in shares of Genesco in the 3rd quarter worth approximately $214,000. 98.36% of the stock is owned by hedge funds and other institutional investors.

About Genesco (Get Rating)

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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