Guess’ (NYSE:GES) Posts Earnings Results, Beats Estimates By $0.21 EPS

Posted by James Conley on May 26th, 2023

Guess’ (NYSE:GES – Get Rating) posted its quarterly earnings data on Wednesday. The company reported ($0.07) EPS for the quarter, topping analysts’ consensus estimates of ($0.28) by $0.21, Briefing.com reports. Guess’ had a return on equity of 29.09% and a net margin of 4.87%. The company had revenue of $569.80 million for the quarter, compared to the consensus estimate of $555.63 million. During the same quarter in the previous year, the business earned $0.24 EPS. The company’s quarterly revenue was down 4.0% compared to the same quarter last year. Guess’ updated its Q2 guidance to $0.35-0.42 EPS and its FY24 guidance to $2.60-2.90 EPS.

Guess’ Trading Up 8.2 %

Shares of NYSE GES opened at $18.80 on Friday. The business has a 50 day simple moving average of $18.72 and a 200 day simple moving average of $20.29. Guess’ has a 52 week low of $14.27 and a 52 week high of $24.15. The stock has a market cap of $1.05 billion, a price-to-earnings ratio of 9.95 and a beta of 1.93. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.92 and a current ratio of 1.59.

Guess’ Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, June 23rd. Stockholders of record on Wednesday, June 7th will be paid a dividend of $0.30 per share. This is an increase from Guess”s previous quarterly dividend of $0.23. This represents a $1.20 dividend on an annualized basis and a dividend yield of 6.38%. Guess”s dividend payout ratio (DPR) is 47.62%.

Hedge Funds Weigh In On Guess’

Several hedge funds and other institutional investors have recently added to or reduced their stakes in GES. Coppell Advisory Solutions Corp. acquired a new position in shares of Guess’ during the 4th quarter worth $40,000. Quarry LP acquired a new position in Guess’ during the first quarter worth $45,000. PNC Financial Services Group Inc. raised its holdings in Guess’ by 27.5% during the first quarter. PNC Financial Services Group Inc. now owns 2,692 shares of the company’s stock valued at $59,000 after buying an additional 581 shares in the last quarter. Tower Research Capital LLC TRC lifted its position in shares of Guess’ by 732.9% in the first quarter. Tower Research Capital LLC TRC now owns 2,807 shares of the company’s stock worth $55,000 after buying an additional 2,470 shares during the last quarter. Finally, Captrust Financial Advisors boosted its stake in shares of Guess’ by 34.7% during the 1st quarter. Captrust Financial Advisors now owns 5,175 shares of the company’s stock worth $114,000 after acquiring an additional 1,334 shares in the last quarter. Institutional investors own 58.81% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on GES. StockNews.com raised Guess’ from a “hold” rating to a “buy” rating in a report on Friday. Small Cap Consu restated a “buy” rating on shares of Guess’ in a report on Tuesday, March 28th. TheStreet cut shares of Guess’ from a “b” rating to a “c+” rating in a report on Wednesday. Finally, Telsey Advisory Group restated a “market perform” rating and set a $23.00 price target on shares of Guess’ in a report on Wednesday, March 15th. One equities research analyst has rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $26.00.

About Guess’

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Guess?, Inc engages in designing, marketing, distributing and licensing 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.