Genesco (NYSE:GCO) Shares Up 3.7% After Earnings Beat

Genesco Inc. (NYSE:GCO – Get Rating)’s stock price shot up 3.7% during mid-day trading on Friday following a better than expected earnings announcement. The stock traded as high as $43.48 and last traded at $42.84. 90,405 shares changed hands during mid-day trading, a decline of 44% from the average session volume of 161,980 shares. The stock had previously closed at $41.30.

The company reported $3.06 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.02 by $0.04. The firm had revenue of $725.00 million during the quarter, compared to analysts’ expectations of $727.43 million. Genesco had a return on equity of 14.34% and a net margin of 3.98%. The business’s revenue was down .4% on a year-over-year basis. During the same period in the prior year, the firm earned $3.48 EPS.

Wall Street Analysts Forecast Growth

Separately, StockNews.com downgraded Genesco from a “buy” rating to a “hold” rating in a research note on Monday, December 5th.

Institutional Trading of Genesco

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Mutual of America Capital Management LLC raised its stake in shares of Genesco by 9.6% during the 2nd quarter. Mutual of America Capital Management LLC now owns 2,168 shares of the company’s stock worth $108,000 after buying an additional 190 shares in the last quarter. Lazard Asset Management LLC raised its stake in shares of Genesco by 41.0% during the 1st quarter. Lazard Asset Management LLC now owns 708 shares of the company’s stock worth $45,000 after buying an additional 206 shares in the last quarter. SummerHaven Investment Management LLC raised its stake in shares of Genesco by 1.4% during the 4th quarter. SummerHaven Investment Management LLC now owns 15,528 shares of the company’s stock worth $715,000 after buying an additional 219 shares in the last quarter. Captrust Financial Advisors raised its stake in shares of Genesco by 45.2% during the 1st quarter. Captrust Financial Advisors now owns 1,227 shares of the company’s stock worth $78,000 after buying an additional 382 shares in the last quarter. Finally, Barclays PLC raised its stake in shares of Genesco by 0.9% during the 3rd quarter. Barclays PLC now owns 48,073 shares of the company’s stock worth $1,890,000 after buying an additional 435 shares in the last quarter. 94.27% of the stock is owned by hedge funds and other institutional investors.

Genesco Trading Up 1.3 %

The firm has a market capitalization of $527.60 million, a PE ratio of 5.96 and a beta of 1.95. The business has a 50 day moving average price of $46.31 and a 200-day moving average price of $46.34. The company has a current ratio of 1.53, a quick ratio of 0.27 and a debt-to-equity ratio of 0.15.

Genesco Company Profile

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Genesco, Inc engages in the retail and sale of footwear, apparel, and accessories. It operates through the following segments: Journeys Group, Schuh Group, Johnston & Murphy Group, and Licensed Brands. The Journeys Group segment contains the Journeys, Journeys Kidz, Shi by Journeys and Little Burgundy retail stores, catalog and e-commerce operations.