Genesco (NYSE:GCO) Announces Quarterly Earnings Results

Genesco (NYSE:GCO - Get Free Report) released its earnings results on Wednesday. The company reported ($2.05) earnings per share for the quarter, beating the consensus estimate of ($2.09) by $0.04, RTT News reports. Genesco had a positive return on equity of 0.56% and a negative net margin of 1.13%. The business had revenue of $473.97 million for the quarter, compared to the consensus estimate of $463.90 million. During the same quarter last year, the business posted ($2.10) earnings per share. The business's quarterly revenue was up 3.6% compared to the same quarter last year. Genesco updated its FY 2026 guidance to 1.300-1.700 EPS.

Genesco Trading Up 0.1%

Shares of NYSE GCO traded up $0.03 during mid-day trading on Friday, reaching $22.71. 175,957 shares of the company's stock were exchanged, compared to its average volume of 305,174. The firm has a market capitalization of $244.81 million, a price-to-earnings ratio of -9.35 and a beta of 2.17. 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 52-week low of $16.19 and a 52-week high of $44.80. The company's 50-day moving average is $20.62 and its 200-day moving average is $30.89.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on GCO shares. Truist Financial raised their price target on shares of Genesco from $23.00 to $25.00 and gave the stock a "hold" rating in a research note on Thursday. Wall Street Zen downgraded Genesco from a "buy" rating to a "hold" rating in a research note on Friday, May 30th. Finally, Jefferies Financial Group reissued a "hold" rating and set a $24.00 price target (down previously from $27.00) on shares of Genesco in a research report on Wednesday, May 21st.

Insider Buying and Selling at Genesco

In related news, Director Gregory A. Sandfort purchased 10,974 shares of Genesco stock in a transaction dated Thursday, March 20th. The shares were acquired at an average cost of $22.92 per share, with a total value of $251,524.08. Following the purchase, the director now owns 26,754 shares of the company's stock, valued at approximately $613,201.68. The trade was a 69.54% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, major shareholder Fund 1 Investments, Llc sold 12,000 shares of Genesco stock in a transaction that occurred on Friday, March 28th. The shares were sold at an average price of $20.73, for a total transaction of $248,760.00. Following the completion of the sale, the insider now owns 1,097,850 shares of the company's stock, valued at $22,758,430.50. This trade represents a 1.08% decrease in their position. The disclosure for this sale can be found here. 23.11% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Genesco

Several institutional investors have recently modified their holdings of the business. Jones Financial Companies Lllp purchased a new position in Genesco in the first quarter valued at $26,000. Royal Bank of Canada increased its holdings in shares of Genesco by 15.4% in the 1st quarter. Royal Bank of Canada now owns 52,848 shares of the company's stock valued at $1,122,000 after acquiring an additional 7,042 shares during the last quarter. Finally, Empowered Funds LLC raised its position in shares of Genesco by 5.3% during the 1st quarter. Empowered Funds LLC now owns 64,783 shares of the company's stock worth $1,375,000 after acquiring an additional 3,282 shares in the last quarter. Institutional investors and hedge funds own 94.51% of the company's stock.

About Genesco

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.