Genesco (NYSE:GCO – Get Rating) updated its FY 2023 earnings guidance on Thursday. The company provided EPS guidance of $7.00-$7.75 for the period, compared to the consensus EPS estimate of $7.41. The company issued revenue guidance of $2.45 billion-$2.49 billion, compared to the consensus revenue estimate of $2.48 billion.Genesco also updated its FY23 guidance to $7.00-7.75 EPS.
Several equities analysts recently issued reports on GCO shares. StockNews.com started coverage on Genesco in a research report on Thursday, March 31st. They issued a buy rating on the stock. TheStreet downgraded Genesco from a b rating to a c+ rating in a research report on Thursday. Finally, Zacks Investment Research downgraded Genesco from a buy rating to a hold rating in a research report on Tuesday, May 10th. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of Buy and an average price target of $71.33.
Shares of GCO opened at $59.09 on Friday. Genesco has a fifty-two week low of $50.01 and a fifty-two week high of $73.72. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.00 and a current ratio of 1.56. The company has a market capitalization of $807.17 million, a P/E ratio of 7.60 and a beta of 1.91. The business’s 50-day moving average is $63.49 and its two-hundred day moving average is $64.28.
Institutional investors have recently modified their holdings of the stock. Lazard Asset Management LLC lifted its stake in Genesco by 41.0% in the 1st quarter. Lazard Asset Management LLC now owns 708 shares of the company’s stock worth $45,000 after purchasing an additional 206 shares in the last quarter. Captrust Financial Advisors raised its position in shares of Genesco by 45.2% during the 1st quarter. Captrust Financial Advisors now owns 1,227 shares of the company’s stock valued at $78,000 after buying an additional 382 shares during the period. Royal Bank of Canada raised its position in shares of Genesco by 12.7% during the 3rd quarter. Royal Bank of Canada now owns 4,255 shares of the company’s stock valued at $246,000 after buying an additional 479 shares during the period. Delphia USA Inc. purchased a new stake in shares of Genesco during the 1st quarter valued at approximately $294,000. Finally, Wellington Management Group LLP purchased a new stake in shares of Genesco during the 1st quarter valued at approximately $321,000. 93.60% of the stock is currently owned by hedge funds and other institutional investors.
Genesco Company Profile (Get Rating)
Genesco Inc operates as a retailer and wholesaler of footwear, apparel, and accessories. The company operates through four segments: Journeys Group, Schuh Group, Johnston & Murphy Group, and Licensed Brands. The Journeys Group segment offers footwear and accessories through the Journeys, Journeys Kidz, and Little Burgundy retail chains, as well as through e-commerce and catalogs for young men, women, and children.
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