Guess? (NYSE:GES) was upgraded by Zacks Investment Research from a “hold” rating to a “strong-buy” rating in a research report issued on Thursday, Zacks.com reports. The firm presently has a $29.00 price target on the stock. Zacks Investment Research‘s price objective indicates a potential upside of 22.21% from the stock’s current price.
According to Zacks, “Guess?’ shares have outperformed the industry in the past year. The company posted splendid third-quarter fiscal 2022 results, with earnings and revenues increasing year over year and beating the Zacks Consensus Estimates. The performance gained from sales growth across all regions, except Asia. Management is particularly impressed with solid growth in operating margin driven by robust gross-margin expansion backed by reduced promotional activity. Apart from this, the company benefits from its solid digital business, which performed well in the fiscal third quarter. Guess? is on track to make progress in its customer-centric initiatives, which includes omnichannel capabilities as well as advanced data analytics and customer segmentation. Management is committed to its six key strategies and has made remarkable progress against them.”
Separately, Telsey Advisory Group cut their price target on Guess? from $33.00 to $27.00 and set a “market perform” rating for the company in a research note on Thursday, August 26th.
NYSE:GES traded up $2.43 during trading on Thursday, reaching $23.73. The company’s stock had a trading volume of 2,924,870 shares, compared to its average volume of 806,230. The firm has a market cap of $1.54 billion, a price-to-earnings ratio of 9.23 and a beta of 2.16. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.17 and a current ratio of 1.77. The firm has a 50 day moving average of $21.65 and a 200-day moving average of $23.88. Guess? has a 12 month low of $15.65 and a 12 month high of $31.12.
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Guess? (NYSE:GES) last announced its quarterly earnings data on Tuesday, November 23rd. The company reported $0.62 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.46 by $0.16. The firm had revenue of $643.07 million during the quarter, compared to the consensus estimate of $611.30 million. Guess? had a return on equity of 34.26% and a net margin of 7.18%. The business’s revenue for the quarter was up 13.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.58 EPS. Equities research analysts forecast that Guess? will post 2.73 earnings per share for the current fiscal year.
Guess? announced that its Board of Directors has initiated a share repurchase program on Wednesday, August 25th that authorizes the company to buyback $200.00 million in outstanding shares. This buyback authorization authorizes the company to buy up to 12.8% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board believes its stock is undervalued.
A number of institutional investors and hedge funds have recently modified their holdings of GES. US Bancorp DE lifted its holdings in Guess? by 90.7% during the 3rd quarter. US Bancorp DE now owns 2,258 shares of the company’s stock worth $47,000 after purchasing an additional 1,074 shares in the last quarter. Macquarie Group Ltd. purchased a new stake in shares of Guess? in the 2nd quarter valued at about $77,000. C M Bidwell & Associates Ltd. purchased a new stake in shares of Guess? in the 2nd quarter valued at about $90,000. Captrust Financial Advisors raised its holdings in shares of Guess? by 5,101.3% in the 1st quarter. Captrust Financial Advisors now owns 3,901 shares of the company’s stock valued at $92,000 after acquiring an additional 3,826 shares in the last quarter. Finally, Dark Forest Capital Management LP purchased a new stake in shares of Guess? in the 3rd quarter valued at about $123,000. 63.64% of the stock is currently owned by institutional investors and hedge funds.
Guess? Company Profile
Guess?, Inc engages in designing, marketing, distributing and licensing of contemporary apparel and accessories for men, women and children that reflect the American lifestyle and European fashion sensibilities. It operates through the following segments: Americas Retail, Americas Wholesale, Europe, Asia, and Licensing.
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