Genesco (NYSE:GCO – Get Rating) issued an update on its FY 2023 earnings guidance on Thursday morning. The company provided earnings per share guidance of $7.00-$7.75 for the period, compared to the consensus earnings per share 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.
GCO stock opened at $54.93 on Thursday. Genesco has a 12 month low of $50.01 and a 12 month high of $73.72. The firm has a market capitalization of $750.18 million, a P/E ratio of 6.86 and a beta of 1.91. The company has a current ratio of 1.64, a quick ratio of 1.00 and a debt-to-equity ratio of 0.03. The firm has a 50 day moving average of $63.97 and a 200-day moving average of $64.48.
Genesco (NYSE:GCO – Get Rating) last announced its earnings results on Thursday, March 10th. The company reported $3.48 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.65 by $0.83. Genesco had a net margin of 4.74% and a return on equity of 18.74%. The business had revenue of $727.66 million during the quarter, compared to analyst estimates of $726.57 million. During the same period in the previous year, the business posted $2.76 earnings per share. Genesco’s revenue for the quarter was up 14.3% on a year-over-year basis. Sell-side analysts predict that Genesco will post 7.41 EPS for the current year.
GCO has been the topic of several research reports. Zacks Investment Research downgraded shares of Genesco from a buy rating to a hold rating in a research note on Tuesday, May 10th. StockNews.com began coverage on shares of Genesco in a research note on Thursday, March 31st. They issued a buy rating on the stock. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Genesco presently has an average rating of Buy and a consensus price target of $71.33.
A number of institutional investors have recently modified their holdings of GCO. Morgan Stanley boosted its holdings in shares of Genesco by 145.3% during the 2nd quarter. Morgan Stanley now owns 126,099 shares of the company’s stock valued at $8,030,000 after buying an additional 74,687 shares in the last quarter. Royal Bank of Canada boosted its holdings 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 in the last quarter. Millennium Management LLC boosted its holdings in shares of Genesco by 34.2% during the 3rd quarter. Millennium Management LLC now owns 15,391 shares of the company’s stock valued at $889,000 after buying an additional 3,922 shares in the last quarter. Bank of New York Mellon Corp boosted its holdings in shares of Genesco by 0.4% during the 3rd quarter. Bank of New York Mellon Corp now owns 146,516 shares of the company’s stock valued at $8,459,000 after buying an additional 646 shares in the last quarter. Finally, Geode Capital Management LLC boosted its holdings in shares of Genesco by 0.6% during the 4th quarter. Geode Capital Management LLC now owns 250,528 shares of the company’s stock valued at $16,076,000 after buying an additional 1,429 shares in the last quarter. 93.60% of the stock is currently owned by institutional investors and hedge funds.
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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