Seaport Res Ptn Has Weak Outlook for Genesco FY2027 Earnings

Genesco Inc. (NYSE:GCO - Free Report) - Research analysts at Seaport Res Ptn decreased their FY2027 earnings per share estimates for shares of Genesco in a report issued on Monday, March 3rd. Seaport Res Ptn analyst M. Kummetz now forecasts that the company will post earnings per share of $2.80 for the year, down from their previous forecast of $2.81. The consensus estimate for Genesco's current full-year earnings is $0.94 per share.

Genesco (NYSE:GCO - Get Free Report) last posted its quarterly earnings data on Friday, March 7th. The company reported $3.26 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $3.31 by ($0.05). The company had revenue of $745.95 million for the quarter, compared to analysts' expectations of $780.43 million. Genesco had a positive return on equity of 0.56% and a negative net margin of 1.13%. During the same quarter last year, the business posted $2.59 EPS.

Separately, StockNews.com lowered Genesco from a "buy" rating to a "hold" rating in a report on Friday.

Genesco Stock Performance

NYSE GCO traded down $4.71 on Thursday, hitting $22.40. 1,046,685 shares of the stock traded hands, compared to its average volume of 163,043. The firm has a market capitalization of $251.10 million, a price-to-earnings ratio of -9.22 and a beta of 2.41. The business's fifty day moving average is $39.79 and its two-hundred day moving average is $34.29. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.32 and a current ratio of 1.56. Genesco has a 12 month low of $21.94 and a 12 month high of $44.80.

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Hedge Funds Weigh In On Genesco

Several hedge funds have recently bought and sold shares of GCO. Olympiad Research LP bought a new position in Genesco in the 3rd quarter worth about $222,000. Empowered Funds LLC increased its position in shares of Genesco by 5.3% in the third quarter. Empowered Funds LLC now owns 58,548 shares of the company's stock worth $1,591,000 after purchasing an additional 2,948 shares during the last quarter. Quest Partners LLC raised its stake in Genesco by 54.9% in the third quarter. Quest Partners LLC now owns 1,854 shares of the company's stock valued at $50,000 after purchasing an additional 657 shares in the last quarter. Meeder Asset Management Inc. lifted its position in Genesco by 84.6% during the third quarter. Meeder Asset Management Inc. now owns 8,035 shares of the company's stock valued at $218,000 after purchasing an additional 3,683 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. lifted its position in Genesco by 139.9% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 36,279 shares of the company's stock valued at $986,000 after purchasing an additional 21,158 shares during the last quarter. Hedge funds and other institutional investors own 94.51% of the company's stock.

Insider Activity at Genesco

In other news, VP Daniel E. Ewoldsen sold 4,000 shares of the company's stock in a transaction dated Tuesday, December 17th. The stock was sold at an average price of $42.68, for a total transaction of $170,720.00. Following the sale, the vice president now directly owns 41,358 shares in the company, valued at $1,765,159.44. This represents a 8.82 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. 7.09% of the stock is currently owned by corporate insiders.

Genesco Company Profile

Genesco Inc operates as a retailer and wholesaler of footwear, apparel, and accessories in the United States, Puerto Rico, Canada, the United Kingdom, and the Republic of Ireland. The company operates through four segments: Journeys Group, Schuh Group, Johnston & Murphy Group, and Genesco Brands.