Genesco (NYSE:GCO) Updates FY 2027 Earnings Guidance

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

Analysts Set New Price Targets

A number of analysts have recently weighed in on the company. Seaport Research Partners downgraded Genesco from a “buy” rating to a “neutral” rating in a research report on Wednesday. Jefferies Financial Group reiterated a “hold” rating on shares of Genesco in a research report on Friday, March 6th. Truist Financial lowered their price target on Genesco from $38.00 to $32.00 and set a “hold” rating for the company in a report on Monday, March 9th. Wall Street Zen cut Genesco from a “buy” rating to a “hold” rating in a report on Saturday, May 16th. Finally, Weiss Ratings raised Genesco from a “hold (c-)” rating to a “hold (c)” rating in a report on Friday, May 15th. One research analyst has rated the stock with a Strong Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $34.00.

Genesco Trading Down 2.1%

Shares of GCO stock opened at $36.38 on Friday. The stock has a market cap of $395.10 million, a price-to-earnings ratio of 32.20 and a beta of 1.82. The stock has a 50-day moving average of $32.34 and a 200-day moving average of $30.03. The company has a current ratio of 1.64, a quick ratio of 0.49 and a debt-to-equity ratio of 0.01. Genesco has a 1-year low of $19.62 and a 1-year high of $38.95.

Genesco (NYSE:GCO) last released its earnings results on Friday, May 29th. The company reported ($2.18) EPS for the quarter, topping the consensus estimate of ($2.55) by $0.37. Genesco had a return on equity of 2.92% and a net margin of 0.54%.The business had revenue of $487.03 million during the quarter, compared to analysts’ expectations of $474.33 million. Genesco has set its FY 2027 guidance at 2.000-2.400 EPS. On average, equities research analysts forecast that Genesco will post 2.15 earnings per share for the current year.

Institutional Trading of Genesco

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in GCO. Arrowstreet Capital Limited Partnership boosted its position in shares of Genesco by 371.2% during the second quarter. Arrowstreet Capital Limited Partnership now owns 272,455 shares of the company’s stock valued at $5,365,000 after buying an additional 214,639 shares during the last quarter. Shay Capital LLC purchased a new position in shares of Genesco during the second quarter valued at approximately $4,027,000. JPMorgan Chase & Co. boosted its position in shares of Genesco by 2,995.5% during the third quarter. JPMorgan Chase & Co. now owns 167,155 shares of the company’s stock valued at $4,846,000 after buying an additional 161,755 shares during the last quarter. MUFG Securities EMEA plc purchased a new position in shares of Genesco during the second quarter valued at approximately $2,954,000. Finally, Marshall Wace LLP boosted its position in shares of Genesco by 232.5% during the fourth quarter. Marshall Wace LLP now owns 174,218 shares of the company’s stock valued at $4,315,000 after buying an additional 121,814 shares during the last quarter. 94.51% of the stock is owned by institutional investors.

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.