Genesco (NYSE:GCO) Posts Quarterly Earnings Results, Beats Expectations By $0.18 EPS

Genesco (NYSE:GCO) released its quarterly earnings data on Friday. The company reported $0.15 EPS for the quarter, beating the consensus estimate of ($0.03) by $0.18, Morningstar.com reports. The business had revenue of $486.60 million for the quarter. Genesco had a negative net margin of 1.70% and a positive return on equity of 8.85%. The firm’s revenue was down .1% on a year-over-year basis. During the same period last year, the company earned $0.04 earnings per share. Genesco updated its FY 2020 guidance to $3.80-4.20 EPS and its FY20 guidance to $3.80-4.20 EPS.

GCO stock opened at $36.14 on Friday. The firm’s fifty day simple moving average is $36.52 and its 200-day simple moving average is $42.29. The company has a market capitalization of $584.49 million, a P/E ratio of 10.10, a price-to-earnings-growth ratio of 1.93 and a beta of 0.53. The company has a debt-to-equity ratio of 1.13, a current ratio of 1.65 and a quick ratio of 0.64. Genesco has a 12 month low of $31.65 and a 12 month high of $50.73.

In related news, VP Mario Gallione sold 2,049 shares of the stock in a transaction on Friday, July 19th. The shares were sold at an average price of $40.31, for a total transaction of $82,595.19. Following the sale, the vice president now directly owns 36,309 shares of the company’s stock, valued at $1,463,615.79. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Thurgood Marshall, Jr. sold 1,690 shares of the stock in a transaction on Friday, June 14th. The stock was sold at an average price of $44.57, for a total transaction of $75,323.30. Following the sale, the director now directly owns 9,724 shares in the company, valued at $433,398.68. The disclosure for this sale can be found here. 4.40% of the stock is owned by corporate insiders.

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. DekaBank Deutsche Girozentrale purchased a new position in Genesco during the second quarter valued at $112,000. Panagora Asset Management Inc. purchased a new position in Genesco during the second quarter valued at $126,000. Quantamental Technologies LLC purchased a new position in Genesco during the second quarter valued at $128,000. NumerixS Investment Technologies Inc lifted its holdings in Genesco by 500.0% during the first quarter. NumerixS Investment Technologies Inc now owns 3,600 shares of the company’s stock valued at $164,000 after purchasing an additional 3,000 shares in the last quarter. Finally, Pinnacle Financial Partners Inc. purchased a new position in Genesco during the first quarter valued at $205,000. 94.82% of the stock is currently owned by hedge funds and other institutional investors.

GCO has been the topic of several recent research reports. ValuEngine downgraded shares of Genesco from a “hold” rating to a “sell” rating in a report on Friday, July 19th. TheStreet downgraded shares of Genesco from a “b” rating to a “c+” rating in a report on Wednesday, June 5th. Zacks Investment Research downgraded shares of Genesco from a “strong-buy” rating to a “hold” rating in a report on Wednesday, July 31st. Pivotal Research reaffirmed a “hold” rating and issued a $45.00 price objective on shares of Genesco in a report on Monday, June 3rd. Finally, Susquehanna Bancshares raised shares of Genesco from a “neutral” rating to a “positive” rating and dropped their price objective for the company from $47.00 to $42.00 in a report on Tuesday, August 27th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and one has assigned a buy rating to the stock. Genesco presently has a consensus rating of “Hold” and a consensus price target of $42.40.

Genesco Company Profile

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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Earnings History for Genesco (NYSE:GCO)

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