Genesco (NYSE:GCO) Updates FY 2023 Earnings Guidance

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 $6.25-$7.00 for the period, compared to the consensus earnings per share estimate of $7.35. The company issued revenue guidance of $2.35 billion-$2.42 billion, compared to the consensus revenue estimate of $2.44 billion.

Genesco Stock Up 0.0 %

NYSE GCO opened at $43.88 on Thursday. The business has a fifty day moving average price of $55.48 and a 200 day moving average price of $58.85. Genesco has a one year low of $42.71 and a one year high of $73.72. The company has a debt-to-equity ratio of 0.09, a quick ratio of 0.42 and a current ratio of 1.57. The company has a market cap of $573.51 million, a P/E ratio of 5.76 and a beta of 1.82.

Genesco (NYSE:GCO – Get Rating) last issued its earnings results on Thursday, September 1st. The company reported $0.59 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.26 by $0.33. Genesco had a return on equity of 16.53% and a net margin of 4.51%. The business had revenue of $535.30 million during the quarter, compared to the consensus estimate of $539.89 million. During the same period last year, the company earned $1.05 EPS. The company’s revenue for the quarter was down 3.6% on a year-over-year basis. Research analysts anticipate that Genesco will post 6.52 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on GCO shares. TheStreet downgraded Genesco from a b rating to a c+ rating in a research note on Thursday, May 26th. Seaport Res Ptn downgraded Genesco from a buy rating to a neutral rating in a research report on Tuesday, August 30th. Finally, StockNews.com downgraded Genesco from a buy rating to a hold rating in a research report on Wednesday, August 31st.

Institutional Trading of Genesco

Hedge funds and other institutional investors have recently modified their holdings of the business. Polar Asset Management Partners Inc. purchased a new position in Genesco during the 1st quarter valued at about $5,910,000. Quantedge Capital Pte Ltd boosted its stake in shares of Genesco by 99.2% in the 1st quarter. Quantedge Capital Pte Ltd now owns 71,300 shares of the company’s stock valued at $4,536,000 after buying an additional 35,500 shares during the period. State Street Corp grew its position in shares of Genesco by 3.8% during the second quarter. State Street Corp now owns 551,818 shares of the company’s stock worth $27,541,000 after buying an additional 20,290 shares in the last quarter. Ancora Advisors LLC grew its position in shares of Genesco by 320.2% during the first quarter. Ancora Advisors LLC now owns 23,090 shares of the company’s stock worth $1,097,000 after buying an additional 17,595 shares in the last quarter. Finally, Dynamic Technology Lab Private Ltd acquired a new position in shares of Genesco during the first quarter worth about $1,030,000. 94.04% of the stock is owned by institutional investors and hedge funds.

About Genesco

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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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