Guess?, Inc. (GES) Upgraded at Zacks Investment Research
Zacks Investment Research upgraded shares of Guess?, Inc. (NYSE:GES) from a hold rating to a buy rating in a research report report published on Friday morning. They currently have $14.00 price target on the stock.
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.”
A number of other analysts have also recently commented on the company. Cowen and Company set a $14.00 price target on Guess? and gave the stock a hold rating in a research report on Thursday. Telsey Advisory Group boosted their price objective on Guess? from $12.00 to $15.00 and gave the company a market perform rating in a report on Thursday. Jefferies Group LLC set a $13.00 price objective on Guess? and gave the company a hold rating in a report on Thursday. FBR & Co boosted their price objective on Guess? from $16.00 to $17.00 and gave the company a buy rating in a report on Monday, August 21st. Finally, BidaskClub cut Guess? from a buy rating to a hold rating in a report on Wednesday, August 16th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and four have given a buy rating to the stock. Guess? currently has an average rating of Hold and a consensus price target of $13.77.
Shares of Guess? (NYSE GES) opened at 15.66 on Friday. The company has a market capitalization of $1.29 billion, a PE ratio of 143.67 and a beta of 0.42. The stock’s 50 day moving average price is $12.97 and its 200-day moving average price is $11.97. Guess? has a 1-year low of $9.56 and a 1-year high of $18.40.
Guess? (NYSE:GES) last issued its quarterly earnings results on Wednesday, August 23rd. The company reported $0.19 EPS for the quarter, topping the Zacks’ 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 company had revenue of $573.69 million during the quarter, compared to analysts’ expectations of $559.82 million. During the same quarter in the previous year, the firm posted $0.14 EPS. The firm’s revenue was up 5.3% compared to the same quarter last year. On average, equities analysts predict that Guess? will post $0.52 EPS for the current year.
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The firm also recently declared a quarterly dividend, which will be paid on Friday, September 22nd. Investors of record on Wednesday, September 6th will be issued a $0.225 dividend. The ex-dividend date of this dividend is Friday, September 1st. This represents a $0.90 dividend on an annualized basis and a yield of 5.75%. Guess?’s payout ratio is 818.18%.
In other Guess? news, CEO Amigo Victor Herrero purchased 3,274 shares of Guess? stock in a transaction that occurred on Monday, June 26th. The stock was bought at an average price of $11.70 per share, with a total value of $38,305.80. Following the acquisition, the chief executive officer now owns 392,848 shares of the company’s stock, valued at approximately $4,596,321.60. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 29.60% of the company’s stock.
A number of institutional investors have recently added to or reduced their stakes in the company. Public Employees Retirement System of Ohio acquired a new position in Guess? during the second quarter worth $324,000. Piedmont Investment Advisors LLC acquired a new position in Guess? during the second quarter worth $168,000. Tower Research Capital LLC TRC acquired a new position in Guess? during the second quarter worth $265,000. Cubist Systematic Strategies LLC acquired a new position in Guess? during the second quarter worth $129,000. Finally, State Street Corp boosted its position in Guess? by 2.0% in the second quarter. State Street Corp now owns 3,839,229 shares of the company’s stock worth $49,066,000 after buying an additional 75,571 shares during the last quarter. 79.54% of the stock is owned by institutional investors.
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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