Telsey Advisory Group Brokers Lower Earnings Estimates for Guess’, Inc. (NYSE:GES)
Guess’, Inc. (NYSE:GES – Get Rating) – Research analysts at Telsey Advisory Group lowered their Q2 2023 earnings per share estimates for shares of Guess’ in a note issued to investors on Thursday, May 26th. Telsey Advisory Group analyst D. Telsey now expects that the company will earn $0.58 per share for the quarter, down from their previous estimate of $0.75. Telsey Advisory Group currently has a “Market Perform” rating and a $23.00 price objective on the stock. Telsey Advisory Group also issued estimates for Guess”s Q3 2023 earnings at $0.72 EPS, Q4 2023 earnings at $1.53 EPS, FY2023 earnings at $3.06 EPS, Q3 2024 earnings at $0.81 EPS, Q4 2024 earnings at $1.66 EPS and FY2024 earnings at $3.63 EPS.
Several other analysts have also recently weighed in on the company. StockNews.com raised Guess’ from a “hold” rating to a “buy” rating in a report on Monday, April 25th. TheStreet raised shares of Guess’ from a “c” rating to a “b-” rating in a report on Wednesday, March 16th. Zacks Investment Research downgraded Guess’ from a “buy” rating to a “hold” rating and set a $18.00 price objective on the stock. in a report on Wednesday, March 9th. Finally, B. Riley decreased their price objective on shares of Guess’ from $36.00 to $29.00 and set a “buy” rating for the company in a research report on Thursday. Two equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Guess’ has an average rating of “Buy” and an average target price of $23.33.
Shares of GES opened at $20.07 on Friday. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.57 and a quick ratio of 1.00. The firm has a 50-day moving average of $21.88 and a 200-day moving average of $22.09. The company has a market cap of $1.20 billion, a PE ratio of 7.78 and a beta of 1.91. Guess’ has a one year low of $16.05 and a one year high of $31.12.
Guess’ (NYSE:GES – Get Rating) last posted its quarterly earnings data on Wednesday, May 25th. The company reported $0.24 earnings per share for the quarter, missing the consensus estimate of $0.29 by ($0.05). Guess’ had a return on equity of 30.94% and a net margin of 6.61%. The firm had revenue of $593.00 million for the quarter, compared to analyst estimates of $584.39 million. During the same period in the prior year, the company earned $0.21 earnings per share. The firm’s quarterly revenue was up 14.0% on a year-over-year basis.
Guess’ announced that its board has authorized a share buyback program on Monday, March 21st that allows the company to repurchase $175.00 million in shares. This repurchase authorization allows the company to repurchase up to 12.4% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s board of directors believes its shares are undervalued.
The firm also recently declared a quarterly dividend, which will be paid on Friday, June 24th. Investors of record on Wednesday, June 8th will be given a dividend of $0.225 per share. This represents a $0.90 dividend on an annualized basis and a yield of 4.48%. Guess”s dividend payout ratio (DPR) is currently 34.88%.
A number of hedge funds have recently bought and sold shares of the business. PNC Financial Services Group Inc. boosted its stake in Guess’ by 27.5% in the 1st quarter. PNC Financial Services Group Inc. now owns 2,692 shares of the company’s stock worth $59,000 after purchasing an additional 581 shares during the period. Voya Investment Management LLC grew its stake in Guess’ by 1.8% in the third quarter. Voya Investment Management LLC now owns 38,069 shares of the company’s stock worth $800,000 after purchasing an additional 655 shares in the last quarter. Royal Bank of Canada increased its holdings in Guess’ by 1.4% during the 3rd quarter. Royal Bank of Canada now owns 53,148 shares of the company’s stock worth $1,117,000 after purchasing an additional 725 shares during the period. New York State Teachers Retirement System raised its position in Guess’ by 1.3% during the 4th quarter. New York State Teachers Retirement System now owns 69,449 shares of the company’s stock valued at $1,645,000 after purchasing an additional 910 shares in the last quarter. Finally, Principal Financial Group Inc. grew its position in shares of Guess’ by 0.4% during the 3rd quarter. Principal Financial Group Inc. now owns 266,199 shares of the company’s stock worth $5,593,000 after buying an additional 948 shares in the last quarter. 67.00% of the stock is currently owned by institutional investors.
Guess’ Company Profile (Get Rating)
Guess?, Inc designs, markets, distributes, and licenses lifestyle collections of apparel and accessories for men, women, and children. It operates through five segments: Americas Retail, Americas Wholesale, Europe, Asia, and Licensing. The company’s clothing collection includes jeans, pants, skirts, dresses, shorts, blouses, shirts, jackets, activewear, knitwear, and intimate apparel.
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