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

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

Guess’ Trading Up 3.8 %

GES traded up $0.72 on Friday, hitting $19.52. 482,432 shares of the company were exchanged, compared to its average volume of 785,939. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.92 and a current ratio of 1.59. The firm has a fifty day simple moving average of $18.72 and a two-hundred day simple moving average of $20.29. The stock has a market capitalization of $1.09 billion, a PE ratio of 9.95 and a beta of 1.93. Guess’ has a 12 month low of $14.27 and a 12 month high of $24.15.

Guess’ Increases Dividend

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

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on GES. Telsey Advisory Group reiterated a “market perform” rating and issued a $23.00 price objective on shares of Guess’ in a report on Wednesday, March 15th. TheStreet cut Guess’ from a “b” rating to a “c+” rating in a report on Wednesday. StockNews.com upgraded Guess’ from a “hold” rating to a “buy” rating in a report on Friday. Finally, Small Cap Consu reiterated a “buy” rating on shares of Guess’ in a report on Tuesday, March 28th. One equities research analyst has rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, Guess’ currently has a consensus rating of “Moderate Buy” and an average target price of $26.00.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. Coppell Advisory Solutions Corp. purchased a new position in shares of Guess’ in the fourth quarter valued at about $40,000. Quarry LP purchased a new position in shares of Guess’ in the first quarter valued at about $45,000. PNC Financial Services Group Inc. increased its position in shares of Guess’ by 27.5% in the first quarter. PNC Financial Services Group Inc. now owns 2,692 shares of the company’s stock valued at $59,000 after acquiring an additional 581 shares during the period. Tower Research Capital LLC TRC increased its position in shares of Guess’ by 732.9% in the first quarter. Tower Research Capital LLC TRC now owns 2,807 shares of the company’s stock valued at $55,000 after acquiring an additional 2,470 shares during the period. Finally, Captrust Financial Advisors increased its position in shares of Guess’ by 34.7% in the first quarter. Captrust Financial Advisors now owns 5,175 shares of the company’s stock valued at $114,000 after acquiring an additional 1,334 shares during the period. 58.81% of the stock is owned by hedge funds and other institutional investors.

About Guess’

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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.