Guess?, Inc. (GES) Shares Gap Up Following Analyst Upgrade
Shares of Guess?, Inc. (NYSE:GES) gapped up prior to trading on Friday after Zacks Investment Research upgraded the stock from a hold rating to a buy rating. The stock had previously closed at $15.09, but opened at $14.86. Zacks Investment Research now has a $14.00 price target on the stock. Guess? shares last traded at $15.38, with a volume of 1,985,270 shares traded.
According to Zacks, “Guess? posted better-than-expected second-quarter fiscal 2018 results and has also raised its view for the fiscal year. Both earnings and revenues surged 26.7% and 5.3%, respectively from the prior-year period. Earnings mainly benefited from increased margins and revenues across its segments. The upside in revenues came on the back of solid sales at its Europe and Asia segments. Moreover, comps in Europe and Asia had also risen, owing to new store openings. Management also remains optimistic about its e-Commerce business that has been improving steadily. Moreover the company has been undertaking cost saving initiatives through improved supply chain management. Consequent to such factors, shares of Guess? outperformed the industry in the last three months. Nevertheless, the company has been facing macroeconomic challenges in the U.S. and Canada, owing to lower consumer spending and has hence resorted to store closures in these regions.”
Several other analysts have also issued reports on GES. Jefferies Group LLC set a $13.00 price target on shares of Guess? and gave the company a “hold” rating in a research report on Thursday. Standpoint Research lowered shares of Guess? from a “buy” rating to a “hold” rating and set a $13.91 price target on the stock. in a research report on Wednesday, August 9th. B. Riley reissued a “neutral” rating and issued a $12.00 price target on shares of Guess? in a research report on Sunday, June 4th. Telsey Advisory Group upped their target price on shares of Guess? from $12.00 to $15.00 and gave the stock a “market perform” rating in a report on Thursday. Finally, BidaskClub lowered shares of Guess? from a “buy” rating to a “hold” rating in a report on Wednesday, August 16th. One research analyst has rated the stock with a sell rating, six have given a hold rating and four have issued a buy rating to the stock. Guess? presently has a consensus rating of “Hold” and an average price target of $13.77.
In related news, CEO Amigo Victor Herrero purchased 3,274 shares of the business’s stock in a transaction on Monday, June 26th. The stock was acquired at an average price of $11.70 per share, with a total value of $38,305.80. Following the purchase, the chief executive officer now directly owns 392,848 shares in the company, valued at $4,596,321.60. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 29.60% of the stock is owned by insiders.
A number of institutional investors have recently added to or reduced their stakes in the company. Sigma Planning Corp boosted its position in Guess? by 1.0% in the second quarter. Sigma Planning Corp now owns 19,096 shares of the company’s stock worth $244,000 after buying an additional 196 shares in the last quarter. Louisiana State Employees Retirement System boosted its position in Guess? by 1.2% in the first quarter. Louisiana State Employees Retirement System now owns 25,100 shares of the company’s stock worth $280,000 after buying an additional 300 shares in the last quarter. Vident Investment Advisory LLC boosted its position in Guess? by 0.3% in the first quarter. Vident Investment Advisory LLC now owns 115,259 shares of the company’s stock worth $1,285,000 after buying an additional 365 shares in the last quarter. Arizona State Retirement System boosted its position in Guess? by 1.3% in the first quarter. Arizona State Retirement System now owns 32,100 shares of the company’s stock worth $358,000 after buying an additional 400 shares in the last quarter. Finally, OLD National Bancorp IN boosted its position in Guess? by 3.3% in the first quarter. OLD National Bancorp IN now owns 22,306 shares of the company’s stock worth $249,000 after buying an additional 718 shares in the last quarter. 80.34% of the stock is owned by institutional investors and hedge funds.
The company has a market capitalization of $1.29 billion, a price-to-earnings ratio of 143.67 and a beta of 0.42. The company has a 50-day moving average price of $12.97 and a 200-day moving average price of $11.97.
Guess? (NYSE:GES) last posted its quarterly earnings data on Wednesday, August 23rd. The company reported $0.19 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.10 by $0.09. Guess? had a return on equity of 4.16% and a net margin of 0.43%. The firm had revenue of $573.69 million during the quarter, compared to the consensus estimate of $559.82 million. During the same period in the prior year, the company earned $0.14 EPS. The firm’s revenue was up 5.3% compared to the same quarter last year. Equities analysts expect that Guess?, Inc. will post $0.52 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, September 22nd. Shareholders of record on Wednesday, September 6th will be paid a $0.225 dividend. This represents a $0.90 dividend on an annualized basis and a dividend yield of 5.75%. The ex-dividend date of this dividend is Friday, September 1st. Guess?’s dividend payout ratio (DPR) is presently 818.18%.
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Guess? Company Profile
Guess?, Inc designs, markets, distributes and licenses a lifestyle collections of apparel and accessories for men, women and children. The Company operates through five segments: Americas Retail, Europe, Asia, Americas Wholesale and Licensing. The Americas Retail segment includes the Company’s retail and e-commerce operations in North and Central America and its retail operations in South America.
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