Genesco (NYSE:GCO) Issues FY 2023 Earnings Guidance

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.

Genesco (NYSE:GCO – Get Rating) last posted its earnings results on Thursday, May 26th. The company reported $0.44 EPS for the quarter, beating analysts’ consensus estimates of ($0.09) by $0.53. Genesco had a return on equity of 17.61% and a net margin of 4.61%. The firm had revenue of $520.80 million for the quarter, compared to analysts’ expectations of $521.05 million. During the same period last year, the firm earned $0.79 EPS. The company’s quarterly revenue was down 3.3% on a year-over-year basis. Analysts forecast that Genesco will post 7.41 EPS for the current year.

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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