Genesco (NYSE:GCO) Posts Earnings Results

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

Genesco stock traded up $2.74 during midday trading on Thursday, hitting $57.67. 6,193 shares of the stock were exchanged, compared to its average volume of 188,911. Genesco has a 1 year low of $50.01 and a 1 year high of $73.72. The firm has a market cap of $787.60 million, a P/E ratio of 7.48 and a beta of 1.91. 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 company has a 50 day moving average price of $63.97 and a two-hundred day moving average price of $64.48.

A number of brokerages have weighed in on GCO. StockNews.com began coverage on shares of Genesco in a report on Thursday, March 31st. They issued a “buy” rating on the stock. Zacks Investment Research downgraded shares of Genesco from a “buy” rating to a “hold” rating in a research note on Tuesday, May 10th. Two analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Buy” and an average target price of $71.33.

Institutional investors have recently added to or reduced their stakes in the stock. Thrivent Financial for Lutherans increased its position in shares of Genesco by 1.7% in the 4th quarter. Thrivent Financial for Lutherans now owns 11,558 shares of the company’s stock worth $742,000 after purchasing an additional 194 shares during the last quarter. Allianz Asset Management GmbH increased its position in shares of Genesco by 0.6% in the 4th quarter. Allianz Asset Management GmbH now owns 30,490 shares of the company’s stock worth $1,957,000 after purchasing an additional 194 shares during the last quarter. Lazard Asset Management LLC increased its position in shares of Genesco by 41.0% in the 1st quarter. Lazard Asset Management LLC now owns 708 shares of the company’s stock worth $45,000 after purchasing an additional 206 shares during the last quarter. Captrust Financial Advisors boosted its holdings in shares of Genesco by 45.2% in the 1st quarter. Captrust Financial Advisors now owns 1,227 shares of the company’s stock valued at $78,000 after buying an additional 382 shares during the period. Finally, California State Teachers Retirement System boosted its holdings in shares of Genesco by 2.2% in the 4th quarter. California State Teachers Retirement System now owns 20,140 shares of the company’s stock valued at $1,292,000 after buying an additional 426 shares during the period. 93.60% of the stock is currently owned by hedge funds and other institutional investors.

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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Earnings History for Genesco (NYSE:GCO)

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