Q3 2018 EPS Estimates for Genesco Inc. (GCO) Cut by Analyst
Genesco Inc. (NYSE:GCO) – Analysts at SunTrust Banks cut their Q3 2018 earnings estimates for shares of Genesco in a research report issued on Thursday. SunTrust Banks analyst P. Quintiliano now expects that the company will post earnings of $1.21 per share for the quarter, down from their prior forecast of $1.38. SunTrust Banks also issued estimates for Genesco’s Q4 2018 earnings at $2.33 EPS, FY2018 earnings at $3.50 EPS and FY2019 earnings at $3.85 EPS.
A number of other analysts have also issued reports on the company. ValuEngine lowered Genesco from a “buy” rating to a “hold” rating in a report on Friday, September 1st. Buckingham Research lowered their target price on shares of Genesco from $38.00 to $23.00 and set a “neutral” rating on the stock in a research report on Friday, September 1st. Jefferies Group LLC reissued a “hold” rating and set a $27.00 target price on shares of Genesco in a research report on Thursday, August 31st. Susquehanna Bancshares Inc reissued a “neutral” rating and set a $29.00 target price (down from $43.00) on shares of Genesco in a research report on Monday, August 28th. Finally, UBS AG downgraded Genesco from a “positive” rating to a “neutral” rating in a research report on Monday, August 28th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and three have given a buy rating to the company. Genesco has an average rating of “Hold” and a consensus price target of $39.00.
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Shares of Genesco (GCO) traded up 4.24% during midday trading on Monday, hitting $24.60. The stock had a trading volume of 70,479 shares. The firm has a 50 day moving average price of $28.48 and a 200 day moving average price of $42.43. The stock has a market cap of $481.99 million, a PE ratio of 5.53 and a beta of 1.29. Genesco has a one year low of $20.90 and a one year high of $72.00.
Genesco (NYSE:GCO) last posted its earnings results on Thursday, August 31st. The company reported ($0.10) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.06) by $0.04. Genesco had a net margin of 2.43% and a return on equity of 7.36%. The company had revenue of $616.50 million during the quarter, compared to analysts’ expectations of $626.93 million. During the same quarter last year, the firm earned $0.34 EPS. Genesco’s revenue for the quarter was down 1.5% on a year-over-year basis.
A number of institutional investors and hedge funds have recently made changes to their positions in the stock. BlackRock Inc. grew its position in shares of Genesco by 45,756.3% during the 1st quarter. BlackRock Inc. now owns 2,482,203 shares of the company’s stock worth $137,638,000 after purchasing an additional 2,476,790 shares in the last quarter. Eagle Asset Management Inc. lifted its stake in Genesco by 9.4% in the 2nd quarter. Eagle Asset Management Inc. now owns 2,064,808 shares of the company’s stock valued at $69,996,000 after purchasing an additional 177,335 shares during the last quarter. Vanguard Group Inc. lifted its stake in Genesco by 0.8% in the 1st quarter. Vanguard Group Inc. now owns 1,964,020 shares of the company’s stock valued at $108,905,000 after purchasing an additional 15,003 shares during the last quarter. Royce & Associates LP lifted its stake in Genesco by 1.2% in the 1st quarter. Royce & Associates LP now owns 659,510 shares of the company’s stock valued at $36,570,000 after purchasing an additional 7,500 shares during the last quarter. Finally, State Street Corp lifted its stake in Genesco by 12.4% in the 2nd quarter. State Street Corp now owns 648,235 shares of the company’s stock valued at $21,977,000 after purchasing an additional 71,541 shares during the last quarter. Institutional investors and hedge funds own 95.93% of the company’s stock.
In other Genesco news, Director Kevin Patrick Mcdermott purchased 1,000 shares of the business’s stock in a transaction on Thursday, July 6th. The shares were purchased at an average cost of $32.32 per share, with a total value of $32,320.00. Following the transaction, the director now directly owns 8,657 shares of the company’s stock, valued at approximately $279,794.24. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 3.30% of the company’s stock.
Genesco Company Profile
Genesco Inc is a retailer and wholesaler of footwear, apparel and accessories. The Company operates in five segments: Journeys Group, Schuh Group, Lids Sports Group, Johnston & Murphy Group and Licensed Brands. It relies on independent third-party manufacturers for production of its footwear products sold at wholesale.
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