Genesco Inc. (GCO) Receives Average Rating of “Hold” from Brokerages
Shares of Genesco Inc. (NYSE:GCO) have been given a consensus recommendation of “Hold” by the twelve brokerages that are presently covering the stock, MarketBeat.com reports. Two investment analysts have rated the stock with a sell recommendation, five have given a hold recommendation and four have given a buy recommendation to the company. The average 12 month price target among brokerages that have updated their coverage on the stock in the last year is $33.29.
Several equities analysts recently commented on GCO shares. Jefferies Group set a $48.00 price target on shares of Genesco and gave the company a “hold” rating in a report on Saturday, August 19th. Zacks Investment Research downgraded shares of Genesco from a “hold” rating to a “sell” rating in a report on Wednesday, August 23rd. BidaskClub raised shares of Genesco from a “strong sell” rating to a “sell” rating in a research report on Friday, August 25th. UBS cut shares of Genesco from a “positive” rating to a “neutral” rating in a research report on Monday, August 28th. Finally, Susquehanna Bancshares reissued a “neutral” rating and issued a $29.00 price objective (down from $43.00) on shares of Genesco in a research report on Monday, August 28th.
Institutional investors have recently added to or reduced their stakes in the business. Thrivent Financial For Lutherans lifted its position in shares of Genesco by 4.5% in the 2nd quarter. Thrivent Financial For Lutherans now owns 11,810 shares of the company’s stock worth $400,000 after purchasing an additional 510 shares during the period. Citigroup Inc. lifted its position in shares of Genesco by 2.2% in the 2nd quarter. Citigroup Inc. now owns 23,967 shares of the company’s stock worth $813,000 after purchasing an additional 525 shares during the period. Public Employees Retirement System of Ohio lifted its position in shares of Genesco by 16.9% in the 2nd quarter. Public Employees Retirement System of Ohio now owns 4,278 shares of the company’s stock worth $145,000 after purchasing an additional 618 shares during the period. Teachers Advisors LLC lifted its position in shares of Genesco by 3.3% in the 1st quarter. Teachers Advisors LLC now owns 36,065 shares of the company’s stock worth $2,000,000 after purchasing an additional 1,140 shares during the period. Finally, Legal & General Group Plc lifted its position in shares of Genesco by 3.4% in the 2nd quarter. Legal & General Group Plc now owns 50,810 shares of the company’s stock worth $1,723,000 after purchasing an additional 1,688 shares during the period. 97.82% of the stock is owned by institutional investors.
Genesco (NYSE:GCO) last issued its quarterly earnings results on Friday, December 1st. The company reported $1.02 EPS for the quarter, missing the consensus estimate of $1.12 by ($0.10). The firm had revenue of $716.80 million for the quarter, compared to the consensus estimate of $706.58 million. Genesco had a negative net margin of 4.24% and a positive return on equity of 6.93%. The business’s revenue for the quarter was up .8% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.28 earnings per share. equities analysts predict that Genesco will post 3.07 earnings per share for the current fiscal year.
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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