Genesco Inc. (NYSE:GCO) – Analysts at B. Riley dropped their Q4 2017 earnings estimates for Genesco in a report released on Monday. B. Riley analyst M. Kummetz now anticipates that the firm will post earnings of $2.15 per share for the quarter, down from their previous forecast of $2.16. B. Riley currently has a “Neutral” rating and a $65.00 price target on the stock.

Genesco (NYSE:GCO) last released its earnings results on Thursday, September 1st. The company reported $0.34 EPS for the quarter, beating analysts’ consensus estimates of $0.27 by $0.07. Genesco had a return on equity of 10.65% and a net margin of 3.49%. The company earned $625.60 million during the quarter. During the same period last year, the business posted $0.36 EPS. Genesco’s revenue was down 4.6% compared to the same quarter last year. WARNING: This piece of content was published by Financial Market News and is the sole property of of Financial Market News. If you are viewing this piece of content on another site, it was copied illegally and reposted in violation of U.S. and international copyright law. The original version of this piece of content can be read at http://www.financial-market-news.com/q4-2017-eps-estimates-for-genesco-inc-gco-lowered-by-b-riley/1210695/.

Earnings History and Estimates for Genesco (NYSE:GCO)

A number of other brokerages have also issued reports on GCO. Zacks Investment Research lowered Genesco from a “hold” rating to a “sell” rating in a research report on Friday, September 2nd. Robert W. Baird lowered Genesco from an “outperform” rating to a “neutral” rating and cut their target price for the company from $80.00 to $53.00 in a research report on Friday, September 2nd. TheStreet lowered Genesco from a “buy” rating to a “hold” rating in a research report on Wednesday, September 14th. CL King lowered Genesco from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, October 19th. Finally, Piper Jaffray Cos. reaffirmed a “neutral” rating and issued a $62.00 target price on shares of Genesco in a research report on Thursday, September 1st. Ten equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company. Genesco currently has a consensus rating of “Hold” and an average price target of $64.38.

Genesco (NYSE:GCO) traded up 0.039% during midday trading on Tuesday, reaching $63.325. The company’s stock had a trading volume of 62,892 shares. Genesco has a 1-year low of $47.66 and a 1-year high of $74.21. The company’s 50-day moving average price is $58.58 and its 200-day moving average price is $61.83. The company has a market capitalization of $1.31 billion, a price-to-earnings ratio of 13.281 and a beta of 1.18.

Hedge funds and other institutional investors have recently modified their holdings of the company. Municipal Employees Retirement System of Michigan increased its position in shares of Genesco by 1.8% in the third quarter. Municipal Employees Retirement System of Michigan now owns 4,640 shares of the company’s stock worth $253,000 after buying an additional 80 shares during the last quarter. State Board of Administration of Florida Retirement System increased its position in shares of Genesco by 1.1% in the second quarter. State Board of Administration of Florida Retirement System now owns 10,058 shares of the company’s stock worth $647,000 after buying an additional 107 shares during the last quarter. BlackRock Inc. increased its position in shares of Genesco by 2.4% in the third quarter. BlackRock Inc. now owns 5,974 shares of the company’s stock worth $325,000 after buying an additional 141 shares during the last quarter. Suntrust Banks Inc. increased its position in shares of Genesco by 3.7% in the second quarter. Suntrust Banks Inc. now owns 4,187 shares of the company’s stock worth $269,000 after buying an additional 151 shares during the last quarter. Finally, Teacher Retirement System of Texas increased its position in shares of Genesco by 6.1% in the second quarter. Teacher Retirement System of Texas now owns 3,113 shares of the company’s stock worth $200,000 after buying an additional 178 shares during the last quarter. Hedge funds and other institutional investors own 96.04% of the company’s stock.

WARNING: This piece of content was published by Financial Market News and is the sole property of of Financial Market News. If you are viewing this piece of content on another site, it was copied illegally and reposted in violation of U.S. and international copyright law. The original version of this piece of content can be read at http://www.financial-market-news.com/q4-2017-eps-estimates-for-genesco-inc-gco-lowered-by-b-riley/1210695/.

In related news, Director Kevin Patrick Mcdermott acquired 1,000 shares of the stock in a transaction that occurred on Tuesday, September 20th. The stock was purchased at an average cost of $51.39 per share, for a total transaction of $51,390.00. Following the purchase, the director now directly owns 2,906 shares in the company, valued at $149,339.34. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Leonard L. Berry acquired 2,000 shares of the stock in a transaction that occurred on Friday, September 16th. The shares were bought at an average price of $51.34 per share, with a total value of $102,680.00. Following the completion of the purchase, the director now owns 28,277 shares in the company, valued at $1,451,741.18. The disclosure for this purchase can be found here. Corporate insiders own 3.00% of the company’s stock.

Genesco Company Profile

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.

5 Day Chart for NYSE:GCO

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