Genesco (NYSE:GCO) Issues FY 2027 Earnings Guidance

Genesco (NYSE:GCO) issued an update on its FY 2027 earnings guidance on Friday morning. The company provided earnings per share (EPS) guidance of 2.000-2.400 for the period, compared to the consensus estimate of 2.140. The company issued revenue guidance of $2.4 billion-$2.4 billion, compared to the consensus revenue estimate of $2.4 billion.

Genesco Trading Up 5.8%

Shares of Genesco stock opened at $38.50 on Friday. The company has a market capitalization of $418.14 million, a price-to-earnings ratio of 34.07 and a beta of 1.82. The company has a quick ratio of 0.49, a current ratio of 1.64 and a debt-to-equity ratio of 0.01. Genesco has a 12-month low of $19.62 and a 12-month high of $38.95. The firm’s 50-day moving average price is $32.60 and its two-hundred day moving average price is $30.09.

Genesco (NYSE:GCO) last issued its earnings results on Friday, May 29th. The company reported ($2.18) EPS for the quarter, beating the consensus estimate of ($2.58) by $0.40. The company had revenue of $487.03 million during the quarter, compared to analysts’ expectations of $474.33 million. Genesco had a net margin of 0.54% and a return on equity of 2.92%. Genesco has set its FY 2027 guidance at 2.000-2.400 EPS. On average, analysts forecast that Genesco will post 2.12 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of research analysts recently issued reports on GCO shares. Truist Financial set a $40.00 price objective on shares of Genesco in a research note on Friday. Seaport Research Partners cut Genesco from a “buy” rating to a “neutral” rating in a research note on Wednesday. Jefferies Financial Group reaffirmed a “hold” rating on shares of Genesco in a report on Friday, March 6th. Weiss Ratings upgraded Genesco from a “hold (c-)” rating to a “hold (c)” rating in a research note on Friday, May 15th. Finally, Wall Street Zen raised Genesco from a “hold” rating to a “buy” rating in a report on Saturday. One research analyst has rated the stock with a Strong Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Genesco presently has an average rating of “Hold” and an average target price of $36.67.

Hedge Funds Weigh In On Genesco

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. BNP Paribas Financial Markets boosted its stake in Genesco by 92.3% during the third quarter. BNP Paribas Financial Markets now owns 1,960 shares of the company’s stock worth $57,000 after acquiring an additional 941 shares in the last quarter. Group One Trading LLC acquired a new stake in Genesco in the fourth quarter worth $26,000. Russell Investments Group Ltd. increased its stake in Genesco by 6.3% in the third quarter. Russell Investments Group Ltd. now owns 18,966 shares of the company’s stock valued at $550,000 after purchasing an additional 1,121 shares in the last quarter. Quarry LP increased its stake in Genesco by 182.2% in the third quarter. Quarry LP now owns 1,964 shares of the company’s stock valued at $57,000 after purchasing an additional 1,268 shares in the last quarter. Finally, Jones Financial Companies Lllp acquired a new position in shares of Genesco during the first quarter valued at about $26,000. Institutional investors own 94.51% of the company’s stock.

About Genesco

Genesco Inc is a Nashville, Tennessee-based retailer, wholesaler and licensee specializing in branded footwear, headwear, apparel and accessories. Through its portfolio of retail chains, wholesale distribution channels and licensing agreements, Genesco brings a range of product offerings to consumers in North America and Europe.

The company’s retail segment includes specialty chains such as Journeys, which targets fashion-focused teens and young adults in the United States and Canada, and Schuh, a footwear retailer with locations in the United Kingdom and Ireland.