FY2018 Earnings Forecast for Genesco Inc. (GCO) Issued By Jefferies Group

Genesco Inc. (NYSE:GCO) – Equities researchers at Jefferies Group raised their FY2018 EPS estimates for Genesco in a research note issued on Tuesday. Jefferies Group analyst R. Konik now forecasts that the company will post earnings of $3.10 per share for the year, up from their prior estimate 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.

Genesco (NYSE:GCO) last issued its quarterly earnings results on Friday, December 1st. The company reported $1.02 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.12 by ($0.10). Genesco had a positive return on equity of 6.93% and a negative net margin of 4.24%. The business had revenue of $716.80 million during the quarter, compared to analyst estimates of $706.58 million. During the same quarter last year, the company posted $1.28 EPS. Genesco’s quarterly revenue was up .8% compared to the same quarter last year.

A number of other equities research analysts have also recently commented on GCO. ValuEngine raised shares of Genesco from a “hold” rating to a “buy” rating in a research note on Monday, October 2nd. Robert W. Baird reaffirmed a “hold” rating and set a $35.00 price objective on shares of Genesco in a research note on Wednesday. TheStreet cut shares of Genesco from a “c-” rating to a “d” rating in a research note on Friday, December 1st. Piper Jaffray Companies reaffirmed a “buy” rating and set a $39.00 price objective on shares of Genesco in a research note on Wednesday, November 1st. Finally, Zacks Investment Research cut shares of Genesco from a “hold” rating to a “sell” rating in a research note on Tuesday, December 5th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and four have issued a buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of $33.50.

Shares of Genesco (GCO) traded down $1.40 during trading hours on Thursday, reaching $33.80. 649,600 shares of the company traded hands, compared to its average volume of 672,600. Genesco has a one year low of $20.90 and a one year high of $65.70. The company has a current ratio of 2.31, a quick ratio of 0.47 and a debt-to-equity ratio of 0.29. The firm has a market cap of $647.18, a P/E ratio of -5.37, a PEG ratio of 1.21 and a beta of 1.37.

Several large investors have recently made changes to their positions in the company. Russell Investments Group Ltd. lifted its holdings in Genesco by 844.1% in the 2nd quarter. Russell Investments Group Ltd. now owns 39,766 shares of the company’s stock valued at $1,348,000 after purchasing an additional 35,554 shares in the last quarter. SG Americas Securities LLC lifted its holdings in Genesco by 182.8% in the 2nd quarter. SG Americas Securities LLC now owns 7,962 shares of the company’s stock valued at $270,000 after purchasing an additional 5,147 shares in the last quarter. Legal & General Group Plc lifted its holdings in Genesco by 3.4% in the 2nd quarter. Legal & General Group Plc now owns 50,810 shares of the company’s stock valued at $1,723,000 after purchasing an additional 1,688 shares in the last quarter. Comerica Bank lifted its holdings in Genesco by 6.1% in the 2nd quarter. Comerica Bank now owns 52,332 shares of the company’s stock valued at $1,554,000 after purchasing an additional 3,005 shares in the last quarter. Finally, Prudential Financial Inc. lifted its holdings in Genesco by 23.5% in the 2nd quarter. Prudential Financial Inc. now owns 239,867 shares of the company’s stock valued at $8,131,000 after purchasing an additional 45,660 shares in the last quarter. Hedge funds and other institutional investors own 97.65% of the company’s stock.

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About Genesco

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.

Earnings History and Estimates for Genesco (NYSE:GCO)

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