Genesco (NYSE:GCO) Issues Quarterly Earnings Results

Genesco (NYSE:GCO – Get Rating) released its quarterly earnings results on Thursday. The company reported $0.44 EPS for the quarter, beating the consensus estimate of ($0.09) by $0.53, MarketWatch Earnings reports. Genesco had a net margin of 4.74% and a return on equity of 18.74%. The business had revenue of $520.80 million for the quarter, compared to analysts’ expectations of $521.05 million. During the same period in the prior year, the firm earned $0.79 earnings per share. Genesco’s revenue was down 3.3% compared to the same quarter last year. Genesco updated its FY 2023 guidance to $7.00-$7.75 EPS and its FY23 guidance to $7.00-7.75 EPS.

GCO traded up $2.10 during mid-day trading on Thursday, hitting $57.03. The stock had a trading volume of 5,592 shares, compared to its average volume of 188,911. The stock’s fifty day simple moving average is $63.97 and its 200-day simple moving average is $64.48. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.64 and a quick ratio of 1.00. The firm has a market capitalization of $778.86 million, a price-to-earnings ratio of 7.48 and a beta of 1.91. Genesco has a 1-year low of $50.01 and a 1-year high of $73.72.

Several analysts have recently commented on the stock. StockNews.com assumed coverage on shares of Genesco in a research note on Thursday, March 31st. They set a “buy” rating on the stock. Zacks Investment Research lowered shares of Genesco from a “buy” rating to a “hold” rating in a report on Tuesday, May 10th. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Buy” and an average price target of $71.33.

A number of institutional investors and hedge funds have recently bought and sold shares of the business. BlackRock Inc. raised its holdings in Genesco by 2.5% in the fourth quarter. BlackRock Inc. now owns 2,327,113 shares of the company’s stock worth $149,330,000 after purchasing an additional 55,837 shares during the period. Dimensional Fund Advisors LP raised its holdings in shares of Genesco by 1.6% during the first quarter. Dimensional Fund Advisors LP now owns 946,549 shares of the company’s stock worth $60,213,000 after acquiring an additional 15,179 shares during the period. Arrowstreet Capital Limited Partnership raised its holdings in shares of Genesco by 0.9% during the first quarter. Arrowstreet Capital Limited Partnership now owns 261,189 shares of the company’s stock worth $16,614,000 after acquiring an additional 2,399 shares during the period. Geode Capital Management LLC raised its holdings in shares of Genesco by 0.6% during the fourth quarter. Geode Capital Management LLC now owns 250,528 shares of the company’s stock worth $16,076,000 after acquiring an additional 1,429 shares during the period. Finally, Invesco Ltd. raised its holdings in shares of Genesco by 4.8% during the first quarter. Invesco Ltd. now owns 245,684 shares of the company’s stock worth $15,629,000 after acquiring an additional 11,156 shares during the period. Institutional investors own 93.60% of the company’s stock.

Genesco Company Profile (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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