Guess?, Inc. (NYSE:GES) – Stock analysts at Jefferies Financial Group increased their FY2022 earnings per share estimates for Guess? in a research note issued to investors on Wednesday, November 24th. Jefferies Financial Group analyst J. Stichter now expects that the company will post earnings per share of $2.99 for the year, up from their previous forecast of $2.68. Jefferies Financial Group also issued estimates for Guess?’s Q4 2022 earnings at $1.18 EPS and FY2023 earnings at $3.18 EPS.
A number of other equities research analysts also recently commented on the company. Zacks Investment Research raised Guess? from a “hold” rating to a “strong-buy” rating and set a $29.00 target price for the company in a report on Thursday. Telsey Advisory Group reduced their price target on Guess? from $33.00 to $27.00 and set a “market perform” rating for the company in a research report on Thursday, August 26th.
Guess? (NYSE:GES) last issued its quarterly earnings results on Tuesday, November 23rd. The company reported $0.62 earnings per share for the quarter, topping the consensus estimate of $0.46 by $0.16. The business had revenue of $643.07 million during the quarter, compared to the consensus estimate of $611.30 million. Guess? had a return on equity of 34.26% and a net margin of 7.18%. The company’s quarterly revenue was up 13.0% on a year-over-year basis. During the same quarter last year, the company earned $0.58 earnings per share.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Robotti Robert acquired a new position in shares of Guess? in the 2nd quarter valued at $206,000. Alliancebernstein L.P. lifted its stake in shares of Guess? by 28.1% in the 2nd quarter. Alliancebernstein L.P. now owns 57,395 shares of the company’s stock valued at $1,515,000 after purchasing an additional 12,595 shares during the last quarter. Trexquant Investment LP acquired a new position in shares of Guess? in the 2nd quarter valued at $578,000. Amalgamated Bank acquired a new position in shares of Guess? in the 2nd quarter valued at $506,000. Finally, Principal Financial Group Inc. lifted its stake in shares of Guess? by 2.8% in the 2nd quarter. Principal Financial Group Inc. now owns 265,251 shares of the company’s stock valued at $7,003,000 after purchasing an additional 7,244 shares during the last quarter. 63.64% of the stock is currently owned by institutional investors.
The company also recently declared a quarterly dividend, which will be paid on Friday, December 24th. Investors of record on Wednesday, December 8th will be given a dividend of $0.225 per share. This represents a $0.90 annualized dividend and a dividend yield of 3.79%. This is a boost from Guess?’s previous quarterly dividend of $0.11. The ex-dividend date of this dividend is Tuesday, December 7th. Guess?’s payout ratio is presently 17.51%.
Guess? announced that its board has initiated a stock buyback plan on Wednesday, August 25th that permits the company to repurchase $200.00 million in outstanding shares. This repurchase authorization permits the company to reacquire up to 12.8% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s management believes its shares are undervalued.
Guess? Company Profile
Guess?, Inc engages in designing, marketing, distributing and licensing of contemporary apparel and accessories for men, women and children that reflect the American lifestyle and European fashion sensibilities. It operates through the following segments: Americas Retail, Americas Wholesale, Europe, Asia, and Licensing.
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