Genesco (NYSE:GCO) Releases FY 2023 Earnings Guidance

Genesco (NYSE:GCOGet Rating) issued an update on its FY 2023 earnings guidance on Thursday morning. The company provided earnings per share (EPS) guidance of $6.25-$7.00 for the period, compared to the consensus 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.

Analyst Upgrades and Downgrades

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

Genesco Price Performance

GCO opened at $42.13 on Friday. The stock has a fifty day simple moving average of $55.31 and a two-hundred day simple moving average of $58.72. The company has a current ratio of 1.57, a quick ratio of 0.42 and a debt-to-equity ratio of 0.09. The company has a market cap of $550.64 million, a price-to-earnings ratio of 5.53 and a beta of 1.82. Genesco has a 12-month low of $42.04 and a 12-month high of $73.72.

Genesco (NYSE:GCOGet Rating) last released its quarterly earnings data on Thursday, September 1st. The company reported $0.59 EPS for the quarter, beating the consensus estimate of $0.26 by $0.33. Genesco had a return on equity of 16.53% and a net margin of 4.51%. The company had revenue of $535.30 million for the quarter, compared to analysts’ expectations of $539.89 million. During the same period last year, the firm posted $1.05 earnings per share. Genesco’s revenue was down 3.6% compared to the same quarter last year. Research analysts predict that Genesco will post 6.52 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in GCO. Lazard Asset Management LLC raised its stake in Genesco by 41.0% during the 1st quarter. Lazard Asset Management LLC now owns 708 shares of the company’s stock valued at $45,000 after purchasing an additional 206 shares during the period. Captrust Financial Advisors boosted its holdings in shares of Genesco by 45.2% in the 1st quarter. Captrust Financial Advisors now owns 1,227 shares of the company’s stock worth $78,000 after purchasing an additional 382 shares during the period. UBS Asset Management Americas Inc. boosted its holdings in shares of Genesco by 4.7% in the 2nd quarter. UBS Asset Management Americas Inc. now owns 18,520 shares of the company’s stock worth $924,000 after purchasing an additional 835 shares during the period. Engineers Gate Manager LP boosted its holdings in shares of Genesco by 11.7% in the 1st quarter. Engineers Gate Manager LP now owns 8,380 shares of the company’s stock worth $533,000 after purchasing an additional 880 shares during the period. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its holdings in Genesco by 10.3% during the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 11,837 shares of the company’s stock valued at $753,000 after acquiring an additional 1,103 shares during the period. Institutional investors own 94.04% of the company’s stock.

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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Earnings History and Estimates for Genesco (NYSE:GCO)

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