Guess’ (NYSE:GES) Releases Q2 2024 Earnings Guidance

Posted by Tammy Falkenburg on May 26th, 2023

Guess’ (NYSE:GES – Get Rating) issued an update on its second quarter 2024 earnings guidance on Friday morning. The company provided earnings per share (EPS) guidance of $0.35-$0.42 for the period, compared to the consensus estimate of $0.48. The company issued revenue guidance of $633.05 million-$642.69 million, compared to the consensus revenue estimate of $646.03 million. Guess’ also updated its FY 2024 guidance to $2.60-$2.90 EPS.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on GES. Small Cap Consu reiterated a buy rating on shares of Guess’ in a report on Tuesday, March 28th. TheStreet lowered shares of Guess’ from a b rating to a c+ rating in a report on Wednesday. StockNews.com upgraded shares of Guess’ from a hold rating to a buy rating in a report on Friday. Finally, Telsey Advisory Group reiterated a market perform rating and set a $23.00 price objective on shares of Guess’ in a report on Wednesday, March 15th. One research analyst has rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of Moderate Buy and a consensus price target of $26.00.

Guess’ Trading Up 8.2 %

NYSE:GES opened at $18.80 on Friday. Guess’ has a one year low of $14.27 and a one year high of $24.15. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.92 and a current ratio of 1.59. The firm has a market cap of $1.05 billion, a P/E ratio of 9.95 and a beta of 1.93. The firm has a 50-day simple moving average of $18.72 and a 200-day simple moving average of $20.29.

Guess’ (NYSE:GES – Get Rating) last posted its quarterly earnings results on Wednesday, May 24th. The company reported ($0.07) EPS for the quarter, beating the consensus estimate of ($0.28) by $0.21. Guess’ had a net margin of 4.87% and a return on equity of 29.09%. The business had revenue of $569.80 million during the quarter, compared to analyst estimates of $555.63 million. During the same quarter in the previous year, the business posted $0.24 EPS. The company’s quarterly revenue was down 4.0% compared to the same quarter last year. Equities analysts anticipate that Guess’ will post 2.68 EPS for the current fiscal year.

Guess’ Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 23rd. Stockholders of record on Wednesday, June 7th will be issued a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 6.38%. This is a positive change from Guess”s previous quarterly dividend of $0.23. Guess”s payout ratio is currently 47.62%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the company. PNC Financial Services Group Inc. grew its position in shares of Guess’ by 27.5% in the 1st quarter. PNC Financial Services Group Inc. now owns 2,692 shares of the company’s stock worth $59,000 after buying an additional 581 shares during the last quarter. UBS Asset Management Americas Inc. grew its position in shares of Guess’ by 1.9% in the 3rd quarter. UBS Asset Management Americas Inc. now owns 53,288 shares of the company’s stock worth $782,000 after buying an additional 971 shares during the last quarter. Captrust Financial Advisors grew its position in shares of Guess’ by 34.7% in the 1st quarter. Captrust Financial Advisors now owns 5,175 shares of the company’s stock worth $114,000 after buying an additional 1,334 shares during the last quarter. Engineers Gate Manager LP grew its position in shares of Guess’ by 7.2% in the 3rd quarter. Engineers Gate Manager LP now owns 22,971 shares of the company’s stock worth $337,000 after buying an additional 1,548 shares during the last quarter. Finally, Coppell Advisory Solutions Corp. purchased a new position in shares of Guess’ in the 4th quarter worth approximately $40,000. Hedge funds and other institutional investors own 58.81% of the company’s stock.

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.