Zacks Investment Research upgraded shares of Guess Inc. (NYSE:GES) from a hold rating to a buy rating in a research report report published on Tuesday. They currently have $16.00 price target on the stock.
According to Zacks, “Estimates have been revised upward over the past 60 days since Guess’ posted earnings of $0.14 per share, which beat the Zacks Consensus Estimate of $0.06. Earnings also surpassed management’s guidance. Revenue were almost flat year over year as improvement in Europe was offset by deterioration in American retail and wholesale business. However, revenues missed the Zacks Consensus Estimate. The company raised the lower end of fiscal 2017 earnings as it expects comps to improve in the second half of the year. The company has a strong e-Commerce business and is aggressively opening stores in the Americas Retail category to boost sales. However, the company’s operations in China have been hampered by tough macroeconomic challenges.”
A number of other research firms have also recently weighed in on GES. Telsey Advisory Group increased their price target on Guess from $16.00 to $17.00 and gave the stock a market perform rating in a report on Thursday, August 25th. Mizuho reissued a neutral rating and set a $17.00 target price on shares of Guess in a research note on Tuesday, July 12th. Piper Jaffray Cos. set a $12.00 target price on Guess and gave the stock a sell rating in a research note on Sunday, August 21st. B. Riley reissued a buy rating and set a $21.00 target price on shares of Guess in a research note on Tuesday, August 30th. Finally, Jefferies Group increased their target price on Guess from $16.00 to $17.00 and gave the stock a hold rating in a research note on Thursday, August 25th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and five have issued a buy rating to the company’s stock. Guess has a consensus rating of Hold and a consensus price target of $18.07.
Guess (NYSE:GES) opened at 14.51 on Tuesday. The stock has a market cap of $1.22 billion, a price-to-earnings ratio of 18.27 and a beta of 0.76. Guess has a 1-year low of $13.78 and a 1-year high of $23.45. The firm has a 50-day moving average price of $15.39 and a 200 day moving average price of $15.97.
Guess (NYSE:GES) last released its quarterly earnings results on Wednesday, August 24th. The company reported $0.14 earnings per share for the quarter, topping analysts’ consensus estimates of $0.07 by $0.07. The business earned $545 million during the quarter, compared to analysts’ expectations of $551.53 million. Guess had a return on equity of 5.16% and a net margin of 3.10%. The company’s revenue was down .2% compared to the same quarter last year. During the same period in the prior year, the business posted $0.21 EPS. On average, equities research analysts anticipate that Guess will post $0.65 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, September 23rd. Shareholders of record on Wednesday, September 7th were paid a dividend of $0.225 per share. This represents a $0.90 annualized dividend and a yield of 6.26%. The ex-dividend date of this dividend was Friday, September 2nd. Guess’s payout ratio is currently 112.50%.
In related news, CEO Amigo Victor Herrero purchased 2,177 shares of the company’s stock in a transaction dated Monday, September 26th. The shares were acquired at an average cost of $14.87 per share, for a total transaction of $32,371.99. Following the transaction, the chief executive officer now owns 334,703 shares of the company’s stock, valued at $4,977,033.61. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Anthony Chidoni sold 4,000 shares of the stock in a transaction that occurred on Friday, July 15th. The stock was sold at an average price of $15.54, for a total value of $62,160.00. Following the sale, the director now owns 157,744 shares in the company, valued at $2,451,341.76. The disclosure for this sale can be found here. Company insiders own 28.80% of the company’s stock.
Several hedge funds have recently made changes to their positions in GES. Renaissance Technologies LLC boosted its stake in shares of Guess by 744.4% in the first quarter. Renaissance Technologies LLC now owns 1,428,700 shares of the company’s stock worth $26,817,000 after buying an additional 1,259,500 shares during the last quarter. State Street Corp raised its position in shares of Guess by 21.6% in the second quarter. State Street Corp now owns 5,470,291 shares of the company’s stock worth $82,330,000 after buying an additional 973,006 shares during the period. Dimensional Fund Advisors LP raised its position in shares of Guess by 12.8% in the second quarter. Dimensional Fund Advisors LP now owns 6,175,584 shares of the company’s stock worth $92,941,000 after buying an additional 698,604 shares during the period. BlackRock Fund Advisors raised its position in shares of Guess by 5.7% in the second quarter. BlackRock Fund Advisors now owns 6,540,717 shares of the company’s stock worth $98,438,000 after buying an additional 355,028 shares during the period. Finally, Credit Suisse AG raised its position in shares of Guess by 100.7% in the second quarter. Credit Suisse AG now owns 532,658 shares of the company’s stock worth $8,017,000 after buying an additional 267,304 shares during the period. Institutional investors and hedge funds own 77.63% of the company’s stock.
Guess?, Inc designs, markets, distributes and licenses a lifestyle collection of apparel and accessories for men, women and children. The Company operates through five segments: Americas Retail, which includes its retail and e-commerce operations in North and Central America and its retail operations in South America; Europe, which includes its wholesale, retail and e-commerce operations in Europe and the Middle East; Asia, which includes its retail, e-commerce and wholesale operations in Asia; Americas Wholesale, which includes its wholesale operations in the Americas, and Licensing, which includes licensing operations of the Company across the world.
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