Guess’ (NYSE:GES) Posts Quarterly Earnings Results, Beats Estimates By $0.21 EPS

Guess’ (NYSE:GES – Get Rating) released its quarterly earnings data on Wednesday. The company reported ($0.07) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.28) by $0.21, Briefing.com reports. The business had revenue of $569.80 million during the quarter, compared to analyst estimates of $555.63 million. Guess’ had a return on equity of 33.93% and a net margin of 5.57%. The company’s revenue was down 4.0% on a year-over-year basis. During the same quarter last year, the business posted $0.24 EPS. Guess’ updated its Q2 guidance to $0.35-0.42 EPS and its FY24 guidance to $2.60-2.90 EPS.

Guess’ Stock Down 0.8 %

NYSE GES traded down $0.14 on Wednesday, hitting $17.37. 1,913,141 shares of the stock were exchanged, compared to its average volume of 768,504. Guess’ has a fifty-two week low of $14.27 and a fifty-two week high of $24.15. The company has a 50-day moving average price of $18.80 and a 200-day moving average price of $20.32. The company has a quick ratio of 0.92, a current ratio of 1.59 and a debt-to-equity ratio of 0.52. The company has a market cap of $966.81 million, a PE ratio of 7.81 and a beta of 1.93.

Guess’ Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 23rd. Shareholders of record on Wednesday, June 7th will be given a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 6.91%. This is a positive change from Guess”s previous quarterly dividend of $0.23. Guess”s dividend payout ratio (DPR) is currently 40.36%.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on GES. Telsey Advisory Group reaffirmed a “market perform” rating and issued a $23.00 price target on shares of Guess’ in a report on Wednesday, March 15th. TheStreet upgraded Guess’ from a “c” rating to a “b” rating in a research report on Tuesday, March 14th. Small Cap Consu reissued a “buy” rating on shares of Guess’ in a report on Tuesday, March 28th. Finally, StockNews.com assumed coverage on shares of Guess’ in a research report on Thursday, May 18th. They set a “hold” rating for the company. Two research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $26.00.

Hedge Funds Weigh In On Guess’

Several hedge funds have recently added to or reduced their stakes in GES. Arrowstreet Capital Limited Partnership grew its position in shares of Guess’ by 158.6% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 1,170,608 shares of the company’s stock worth $24,220,000 after acquiring an additional 717,977 shares during the last quarter. Charles Schwab Investment Management Inc. increased its stake in Guess’ by 82.2% in the first quarter. Charles Schwab Investment Management Inc. now owns 1,005,259 shares of the company’s stock valued at $19,562,000 after purchasing an additional 453,565 shares during the period. Norges Bank purchased a new stake in shares of Guess’ in the fourth quarter valued at about $6,088,000. Vanguard Group Inc. boosted its stake in shares of Guess’ by 4.2% during the first quarter. Vanguard Group Inc. now owns 4,555,857 shares of the company’s stock worth $99,546,000 after buying an additional 184,983 shares during the period. Finally, Point72 Asset Management L.P. purchased a new position in shares of Guess’ during the fourth quarter worth about $3,718,000. 58.81% of the stock is currently owned by hedge funds and other institutional investors.

Guess’ Company Profile

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Guess?, Inc engages in designing, marketing, distributing and licensing contemporary apparel and accessories for men, women and children that reflect the American lifestyle and European fashion sensibilities. It operates through the following segments: Americas Retail, Americas Wholesale, Europe, Asia, and Licensing.