FY2018 EPS Estimates for Genesco Inc. (GCO) Boosted by Jefferies Group
Genesco Inc. (NYSE:GCO) – Equities researchers at Jefferies Group raised their FY2018 earnings per share (EPS) estimates for Genesco in a research report issued to clients and investors on Tuesday. Jefferies Group analyst R. Konik now anticipates that the company will post earnings of $3.10 per share for the year, up from their prior forecast of $3.07. Jefferies Group currently has a “Buy” rating on the stock. Jefferies Group also issued estimates for Genesco’s Q4 2018 earnings at $2.12 EPS and FY2019 earnings at $3.30 EPS.
A number of other research firms have also weighed in on GCO. Piper Jaffray Companies reissued a “buy” rating and issued a $39.00 target price on shares of Genesco in a report on Sunday, October 1st. Zacks Investment Research raised shares of Genesco from a “strong sell” rating to a “hold” rating in a research note on Tuesday, November 14th. Buckingham Research lifted their price objective on shares of Genesco from $23.00 to $30.00 and gave the stock a “neutral” rating in a research note on Monday, November 20th. Morgan Stanley dropped their price objective on shares of Genesco from $38.00 to $28.00 and set an “equal weight” rating for the company in a research note on Wednesday, September 13th. Finally, SunTrust Banks set a $33.00 price objective on shares of Genesco and gave the stock a “buy” rating in a research note on Monday, October 16th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and four have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $33.50.
Genesco (NYSE:GCO) last posted its earnings results on Friday, December 1st. The company reported $1.02 earnings per share for the quarter, missing analysts’ consensus estimates of $1.12 by ($0.10). Genesco had a negative net margin of 4.24% and a positive return on equity of 6.93%. The business had revenue of $716.80 million during the quarter, compared to analysts’ expectations of $706.58 million. During the same period last year, the business posted $1.28 earnings per share. The company’s revenue for the quarter was up .8% compared to the same quarter last year.
A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Fuller & Thaler Asset Management Inc. boosted its stake in Genesco by 0.4% during the third quarter. Fuller & Thaler Asset Management Inc. now owns 909,846 shares of the company’s stock worth $24,202,000 after buying an additional 3,578 shares during the period. State Street Corp boosted its stake in Genesco by 12.4% during the second quarter. State Street Corp now owns 648,235 shares of the company’s stock worth $21,977,000 after buying an additional 71,541 shares during the period. Northern Trust Corp boosted its stake in Genesco by 47.5% during the second quarter. Northern Trust Corp now owns 586,814 shares of the company’s stock worth $19,893,000 after buying an additional 188,906 shares during the period. Smith Graham & Co. Investment Advisors LP boosted its stake in Genesco by 25.4% during the third quarter. Smith Graham & Co. Investment Advisors LP now owns 390,516 shares of the company’s stock worth $10,388,000 after buying an additional 79,120 shares during the period. Finally, Citadel Advisors LLC boosted its stake in Genesco by 369.8% during the second quarter. Citadel Advisors LLC now owns 353,341 shares of the company’s stock worth $11,978,000 after buying an additional 278,134 shares during the period. 97.65% of the stock is owned by institutional investors.
Genesco Inc is a retailer and wholesaler of footwear, apparel and accessories. The Company operates in five segments: Journeys Group, Schuh Group, Lids Sports Group, Johnston & Murphy Group and Licensed Brands. It relies on independent third-party manufacturers for production of its footwear products sold at wholesale.
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