Q4 2017 EPS Estimates for Genesco Inc. (GCO) Lifted by SunTrust Banks

Genesco Inc. (NYSE:GCO) – Research analysts at SunTrust Banks raised their Q4 2017 EPS estimates for shares of Genesco in a research note issued to investors on Monday. SunTrust Banks analyst P. Quintiliano now anticipates that the firm will post earnings per share of $1.77 for the quarter, up from their prior estimate of $1.57.

Genesco (NYSE:GCO) last released its quarterly earnings results on Friday, December 2nd. The company reported $1.28 earnings per share for the quarter, topping the consensus estimate of $0.93 by $0.35. Genesco had a net margin of 3.34% and a return on equity of 10.10%. The business had revenue of $711 million for the quarter, compared to analysts’ expectations of $716.89 million. During the same period in the previous year, the company earned $1.40 earnings per share. The firm’s revenue for the quarter was down 8.1% compared to the same quarter last year.

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Earnings History and Estimates for Genesco (NYSE:GCO)

Several other equities research analysts have also recently weighed in on the stock. B. Riley reissued a “neutral” rating and set a $65.00 price target on shares of Genesco in a research report on Wednesday. TheStreet raised shares of Genesco from a “hold” rating to a “buy” rating in a research report on Friday, December 2nd. Piper Jaffray Companies reissued a “hold” rating and set a $50.00 price target on shares of Genesco in a research report on Monday, December 5th. Jefferies Group set a $62.00 price target on shares of Genesco and gave the company a “hold” rating in a research report on Sunday, December 4th. Finally, Susquehanna reissued a “hold” rating on shares of Genesco in a research report on Sunday, December 4th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and two have given a buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $62.50.

Genesco (NYSE:GCO) traded down 1.51% on Wednesday, reaching $62.10. 192,492 shares of the company traded hands. The stock’s 50 day moving average price is $65.33 and its 200 day moving average price is $62.05. The company has a market capitalization of $1.23 billion, a PE ratio of 13.46 and a beta of 1.25. Genesco has a one year low of $47.66 and a one year high of $74.21.

Several hedge funds and other institutional investors have recently modified their holdings of GCO. Dimensional Fund Advisors LP raised its position in shares of Genesco by 16.0% in the second quarter. Dimensional Fund Advisors LP now owns 1,775,683 shares of the company’s stock valued at $114,194,000 after buying an additional 244,395 shares during the last quarter. BlackRock Fund Advisors raised its position in shares of Genesco by 7.7% in the third quarter. BlackRock Fund Advisors now owns 1,471,822 shares of the company’s stock valued at $80,155,000 after buying an additional 105,380 shares during the last quarter. Royce & Associates LP raised its position in shares of Genesco by 11.4% in the second quarter. Royce & Associates LP now owns 848,439 shares of the company’s stock valued at $54,563,000 after buying an additional 87,085 shares during the last quarter. Price T Rowe Associates Inc. MD raised its position in shares of Genesco by 8,257.9% in the third quarter. Price T Rowe Associates Inc. MD now owns 464,700 shares of the company’s stock valued at $25,308,000 after buying an additional 459,140 shares during the last quarter. Finally, Northern Trust Corp raised its position in shares of Genesco by 2.8% in the third quarter. Northern Trust Corp now owns 407,943 shares of the company’s stock valued at $22,217,000 after buying an additional 11,231 shares during the last quarter. Institutional investors own 99.64% of the company’s stock.

ILLEGAL ACTIVITY WARNING: This report was originally published by Sports Perspectives and is owned by of Sports Perspectives. If you are reading this report on another publication, it was copied illegally and reposted in violation of United States & international copyright legislation. The legal version of this report can be accessed at https://sportsperspectives.com/2017/01/11/q4-2017-eps-estimates-for-genesco-inc-gco-lifted-by-suntrust-banks.html.

In related news, Director Thurgood Marshall, Jr. sold 1,572 shares of the stock in a transaction dated Thursday, December 29th. The shares were sold at an average price of $61.27, for a total value of $96,316.44. Following the completion of the transaction, the director now directly owns 9,016 shares in the company, valued at approximately $552,410.32. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Marty G. Dickens sold 4,000 shares of the stock in a transaction dated Thursday, December 8th. The stock was sold at an average price of $70.84, for a total transaction of $283,360.00. Following the completion of the transaction, the director now owns 14,079 shares of the company’s stock, valued at $997,356.36. The disclosure for this sale can be found here. 3.00% of the stock is currently owned by company insiders.

About Genesco

Genesco Inc is a retailer and wholesaler of footwear, apparel and accessories. The Company operates in five segments: Journeys Group, Schuh Group, Lids Sports Group, Johnston & Murphy Group and Licensed Brands. Its Journeys Group segment includes Journeys, Journeys Kidz, Shi by Journeys, Little Burgundy and Underground by Journeys retail stores, catalog and e-commerce operations.

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