Q1 2023 Earnings Forecast for Genesco Inc. (NYSE:GCO) Issued By Jefferies Financial Group

Genesco Inc. (NYSE:GCO) – Equities researchers at Jefferies Financial Group upped their Q1 2023 EPS estimates for Genesco in a research note issued on Monday, January 10th. Jefferies Financial Group analyst C. Tarlowe now forecasts that the company will earn $0.38 per share for the quarter, up from their previous estimate of $0.27. Jefferies Financial Group currently has a “Hold” rating and a $64.00 target price on the stock.

Genesco (NYSE:GCO) last posted its quarterly earnings data on Friday, December 3rd. The company reported $2.36 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.29 by $1.07. Genesco had a return on equity of 17.46% and a net margin of 6.12%. The company had revenue of $601.00 million for the quarter, compared to the consensus estimate of $575.57 million. During the same period in the previous year, the business earned $0.85 EPS. Genesco’s revenue for the quarter was up 25.4% compared to the same quarter last year.

Separately, Zacks Investment Research upgraded Genesco from a “hold” rating to a “strong-buy” rating and set a $75.00 price objective for the company in a research note on Wednesday, December 8th.

Shares of NYSE GCO opened at $62.36 on Thursday. Genesco has a twelve month low of $35.48 and a twelve month high of $73.72. The company has a current ratio of 1.57, a quick ratio of 0.85 and a debt-to-equity ratio of 0.03. The company has a market capitalization of $910.89 million, a price-to-earnings ratio of 6.36 and a beta of 2.11. The business has a 50 day simple moving average of $64.86 and a 200-day simple moving average of $61.67.

Institutional investors and hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. boosted its position in Genesco by 2.3% during the 2nd quarter. Vanguard Group Inc. now owns 1,291,365 shares of the company’s stock worth $82,234,000 after acquiring an additional 28,449 shares during the period. FMR LLC boosted its position in Genesco by 10.6% during the 2nd quarter. FMR LLC now owns 1,259,726 shares of the company’s stock worth $80,219,000 after acquiring an additional 120,284 shares during the period. Dimensional Fund Advisors LP boosted its position in Genesco by 2.3% during the 3rd quarter. Dimensional Fund Advisors LP now owns 930,357 shares of the company’s stock worth $53,714,000 after acquiring an additional 21,020 shares during the period. Legion Partners Asset Management LLC boosted its position in Genesco by 18.8% during the 2nd quarter. Legion Partners Asset Management LLC now owns 888,680 shares of the company’s stock worth $56,591,000 after acquiring an additional 140,622 shares during the period. Finally, Alliancebernstein L.P. boosted its position in Genesco by 6.7% during the 3rd quarter. Alliancebernstein L.P. now owns 692,154 shares of the company’s stock worth $39,958,000 after acquiring an additional 43,497 shares during the period. Hedge funds and other institutional investors own 97.92% of the company’s stock.

About Genesco

Genesco, Inc engages in the retail and sale of footwear, apparel, and accessories. It operates through the following segments: Journeys Group, Schuh Group, Johnston & Murphy Group, and Licensed Brands. The Journeys Group segment comprise of the Journeys, Journeys Kidz, Shi by Journeys and Little Burgundy retail stores, catalog and e-commerce operations.

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Earnings History and Estimates for Genesco (NYSE:GCO)

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