Guess Inc. (GES) Announces Quarterly Earnings Results, Misses Estimates By $0.03 EPS
Guess Inc. (NYSE:GES) posted its earnings results on Wednesday. The company reported $0.11 EPS for the quarter, missing the consensus estimate of $0.14 by $0.03. The business earned $536.30 million during the quarter, compared to analysts’ expectations of $548.37 million. Guess had a net margin of 3.10% and a return on equity of 5.16%. The business’s quarterly revenue was up 2.9% compared to the same quarter last year. During the same period last year, the company earned $0.15 EPS. Guess updated its Q4 guidance to $0.40-0.50 EPS.
Shares of Guess (NYSE:GES) traded down 1.54% during midday trading on Wednesday, reaching $15.32. 3,070,186 shares of the company were exchanged. The company’s 50-day moving average price is $14.59 and its 200 day moving average price is $15.08. Guess has a 52-week low of $13.20 and a 52-week high of $22.84. The stock has a market capitalization of $1.29 billion, a price-to-earnings ratio of 19.29 and a beta of 0.62.
In related news, CEO Amigo Victor Herrero bought 2,177 shares of the business’s stock in a transaction dated Monday, September 26th. The shares were acquired at an average price of $14.87 per share, for a total transaction of $32,371.99. Following the purchase, the chief executive officer now owns 334,703 shares in the company, valued at approximately $4,977,033.61. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. 28.80% of the stock is currently owned by insiders.
Several large investors have recently made changes to their positions in GES. Ameritas Investment Partners Inc. increased its stake in shares of Guess by 56.5% in the third quarter. Ameritas Investment Partners Inc. now owns 23,340 shares of the company’s stock worth $341,000 after buying an additional 8,430 shares in the last quarter. The Manufacturers Life Insurance Company acquired a new stake in shares of Guess during the third quarter worth $1,820,000. Two Sigma Advisers LP increased its stake in shares of Guess by 6.9% in the third quarter. Two Sigma Advisers LP now owns 115,977 shares of the company’s stock worth $1,694,000 after buying an additional 7,500 shares in the last quarter. Northern Trust Corp increased its stake in shares of Guess by 1.2% in the third quarter. Northern Trust Corp now owns 1,230,798 shares of the company’s stock worth $17,982,000 after buying an additional 14,709 shares in the last quarter. Finally, California State Teachers Retirement System increased its stake in shares of Guess by 0.9% in the third quarter. California State Teachers Retirement System now owns 129,492 shares of the company’s stock worth $1,892,000 after buying an additional 1,200 shares in the last quarter. 74.92% of the stock is owned by institutional investors and hedge funds.
GES has been the topic of several recent analyst reports. B. Riley reissued a “buy” rating and issued a $21.00 target price on shares of Guess in a report on Tuesday, August 30th. Wunderlich reissued a “buy” rating and issued a $27.00 target price on shares of Guess in a report on Monday. Zacks Investment Research raised Guess from a “hold” rating to a “buy” rating and set a $16.00 target price on the stock in a report on Tuesday, October 4th. Jefferies Group increased their target price on Guess from $16.00 to $17.00 and gave the company a “hold” rating in a report on Thursday, August 25th. Finally, Telsey Advisory Group increased their target price on Guess from $16.00 to $17.00 and gave the company a “market perform” rating in a report on Thursday, August 25th. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and four have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $18.07.
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Guess Company Profile
Guess?, Inc designs, markets, distributes and licenses a lifestyle collection of apparel and accessories for men, women and children. The Company operates through five segments: Americas Retail, which includes its retail and e-commerce operations in North and Central America and its retail operations in South America; Europe, which includes its wholesale, retail and e-commerce operations in Europe and the Middle East; Asia, which includes its retail, e-commerce and wholesale operations in Asia; Americas Wholesale, which includes its wholesale operations in the Americas, and Licensing, which includes licensing operations of the Company across the world.
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