Guess’ (NYSE:GES) Announces Quarterly Earnings Results, Beats Estimates By $0.21 EPS

Posted by Scott Davis on May 26th, 2023

Guess’ (NYSE:GES – Get Rating) posted its quarterly earnings data on Wednesday. The company reported ($0.07) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.28) by $0.21, Briefing.com reports. The company had revenue of $569.80 million for the quarter, compared to analyst estimates of $555.63 million. Guess’ had a net margin of 4.87% and a return on equity of 29.09%. The business’s quarterly revenue was down 4.0% on a year-over-year basis. During the same quarter last year, the firm posted $0.24 earnings per share. Guess’ updated its Q2 guidance to $0.35-0.42 EPS and its FY24 guidance to $2.60-2.90 EPS.

Guess’ Stock Performance

GES stock traded up $0.72 during trading on Friday, hitting $19.52. 334,464 shares of the company’s stock traded hands, compared to its average volume of 784,232. The stock has a fifty day moving average price of $18.72 and a two-hundred day moving average price of $20.29. The stock has a market capitalization of $1.09 billion, a price-to-earnings ratio of 9.95 and a beta of 1.93. The company has a quick ratio of 0.92, a current ratio of 1.59 and a debt-to-equity ratio of 0.52. Guess’ has a 52 week low of $14.27 and a 52 week high of $24.15.

Guess’ Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 23rd. Shareholders of record on Wednesday, June 7th will be paid a dividend of $0.30 per share. This is a positive change from Guess”s previous quarterly dividend of $0.23. The ex-dividend date of this dividend is Tuesday, June 6th. This represents a $1.20 annualized dividend and a yield of 6.15%. Guess”s payout ratio is presently 47.62%.

Institutional Investors Weigh In On Guess’

Several institutional investors have recently bought and sold shares of GES. Arrowstreet Capital Limited Partnership lifted its holdings in Guess’ by 158.6% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 1,170,608 shares of the company’s stock worth $24,220,000 after purchasing an additional 717,977 shares during the period. Charles Schwab Investment Management Inc. lifted its stake in Guess’ by 82.2% during the first quarter. Charles Schwab Investment Management Inc. now owns 1,005,259 shares of the company’s stock valued at $19,562,000 after buying an additional 453,565 shares in the last quarter. Norges Bank purchased a new stake in Guess’ during the fourth quarter valued at about $6,088,000. Vanguard Group Inc. lifted its stake in Guess’ by 4.2% during the first quarter. Vanguard Group Inc. now owns 4,555,857 shares of the company’s stock valued at $99,546,000 after buying an additional 184,983 shares in the last quarter. Finally, Point72 Asset Management L.P. purchased a new stake in Guess’ during the fourth quarter valued at about $3,718,000. Institutional investors and hedge funds own 58.81% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently issued reports on GES shares. Small Cap Consu reiterated a “buy” rating on shares of Guess’ in a research note on Tuesday, March 28th. StockNews.com upgraded shares of Guess’ from a “hold” rating to a “buy” rating in a research note on Friday. Telsey Advisory Group reiterated a “market perform” rating and set a $23.00 price objective on shares of Guess’ in a research note on Wednesday, March 15th. Finally, TheStreet downgraded shares of Guess’ from a “b” rating to a “c+” rating in a research report on Wednesday. One analyst has 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, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $26.00.

Guess’ Company Profile

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Guess?, Inc engages in designing, marketing, distributing and licensing 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.