Genesco (NYSE:GCO) Releases Quarterly Earnings Results, Misses Expectations By $0.49 EPS

Genesco (NYSE:GCO – Get Rating) announced its earnings results on Thursday. The company reported ($1.59) EPS for the quarter, missing the consensus estimate of ($1.10) by ($0.49), Briefing.com reports. The company had revenue of $483.60 million for the quarter, compared to the consensus estimate of $478.01 million. Genesco had a return on equity of 12.23% and a net margin of 3.02%. The business’s quarterly revenue was down 7.1% on a year-over-year basis. During the same period in the previous year, the firm posted $0.44 EPS. Genesco updated its FY24 guidance to $2.00-2.50 EPS.

Genesco Price Performance

GCO stock opened at $20.00 on Friday. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.59 and a quick ratio of 0.32. Genesco has a 1 year low of $19.47 and a 1 year high of $66.42. The company has a 50 day simple moving average of $33.93 and a 200 day simple moving average of $41.88. The stock has a market cap of $251.20 million, a price-to-earnings ratio of 3.47 and a beta of 1.93.

Analysts Set New Price Targets

GCO has been the subject of several analyst reports. Seaport Res Ptn upgraded shares of Genesco from a “neutral” rating to a “buy” rating in a research report on Tuesday, March 28th. StockNews.com initiated coverage on shares of Genesco in a research report on Thursday, May 18th. They issued a “hold” rating for the company.

Hedge Funds Weigh In On Genesco

Several institutional investors and hedge funds have recently added to or reduced their stakes in GCO. Quarry LP acquired a new stake in Genesco in the first quarter valued at approximately $27,000. Lazard Asset Management LLC lifted its holdings in shares of Genesco by 41.0% in the first quarter. Lazard Asset Management LLC now owns 708 shares of the company’s stock valued at $45,000 after purchasing an additional 206 shares in the last quarter. Captrust Financial Advisors lifted its holdings in shares of Genesco by 45.2% in the first quarter. Captrust Financial Advisors now owns 1,227 shares of the company’s stock valued at $78,000 after purchasing an additional 382 shares in the last quarter. Teachers Retirement System of The State of Kentucky bought a new position in shares of Genesco in the third quarter valued at approximately $177,000. Finally, Cetera Investment Advisers lifted its holdings in shares of Genesco by 19.6% in the first quarter. Cetera Investment Advisers now owns 5,762 shares of the company’s stock valued at $213,000 after purchasing an additional 944 shares in the last quarter. 94.27% of the stock is currently owned by institutional investors and hedge funds.

Genesco Company Profile

(Get Rating)

Genesco, Inc engages in sourcing and design, marketing, and distribution of footwear, apparel, and accessories. It operates through the following business segments: Journeys Group, Schuh Group, Johnston and Murphy Group, and Genesco Brands Group. The Journeys Group segment operates the Journeys, Journeys Kidz, and Little Burgundy retail stores retail footwear chain.