Genesco (NYSE:GCO) Cut to “C+” at TheStreet

Posted by on May 28th, 2022

Genesco (NYSE:GCO – Get Rating) was downgraded by equities researchers at TheStreet from a “b” rating to a “c+” rating in a research report issued on Thursday, TheStreetRatingsTable reports.

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

Shares of Genesco stock opened at $59.09 on Thursday. The firm has a market cap of $806.99 million, a price-to-earnings ratio of 7.38 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. Genesco has a 52-week low of $50.01 and a 52-week high of $73.72. The stock has a 50-day simple moving average of $63.49 and a 200-day simple moving average of $64.32.

Genesco (NYSE:GCO – Get Rating) last announced its quarterly earnings results on Thursday, May 26th. The company reported $0.44 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.09) by $0.53. The business had revenue of $520.80 million during the quarter, compared to analyst estimates of $521.05 million. Genesco had a return on equity of 18.74% and a net margin of 4.74%. The firm’s revenue was down 3.3% on a year-over-year basis. During the same period in the previous year, the company earned $0.79 EPS. As a group, equities research analysts predict that Genesco will post 7.41 earnings per share for the current year.

Hedge funds and other institutional investors have recently modified their holdings of the business. Barrow Hanley Mewhinney & Strauss LLC bought a new stake in shares of Genesco during the fourth quarter valued at approximately $27,000. Lazard Asset Management LLC bought a new stake in shares of Genesco during the fourth quarter valued at approximately $32,000. Counterpoint Mutual Funds LLC acquired a new stake in Genesco in the 1st quarter valued at $63,000. Captrust Financial Advisors boosted its stake in 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 in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Genesco by 59.8% in the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,402 shares of the company’s stock valued at $153,000 after buying an additional 899 shares in the last quarter. 93.60% of the stock is currently owned by 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.

Featured Articles

Want More Great Investing Ideas?

Receive News & Ratings for Genesco Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Genesco and related companies with MarketBeat.com's FREE daily email newsletter.