Guess’ (NYSE:GES) Updates FY 2024 Earnings Guidance

Guess’ (NYSE:GES – Get Rating) updated its FY 2024 earnings guidance on Friday. The company provided earnings per share guidance of $2.60-$2.90 for the period, compared to the consensus earnings per share estimate of $2.66. The company issued revenue guidance of $2.74 billion-$2.79 billion, compared to the consensus revenue estimate of $2.74 billion. Guess’ also updated its Q2 2024 guidance to $0.35-$0.42 EPS.

Guess’ Price Performance

GES opened at $18.80 on Friday. The company has a quick ratio of 0.92, a current ratio of 1.59 and a debt-to-equity ratio of 0.52. Guess’ has a 52-week low of $14.27 and a 52-week high of $24.15. The company has a 50 day moving average of $18.72 and a two-hundred day moving average of $20.29. The company has a market cap of $1.05 billion, a P/E ratio of 9.95 and a beta of 1.93.

Guess’ (NYSE:GES – Get Rating) last posted its quarterly earnings results on Wednesday, May 24th. The company reported ($0.07) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.28) by $0.21. The firm had revenue of $569.80 million for the quarter, compared to analysts’ expectations of $555.63 million. Guess’ had a net margin of 4.87% and a return on equity of 29.09%. The firm’s quarterly revenue was down 4.0% on a year-over-year basis. During the same period in the prior year, the company posted $0.24 earnings per share. On average, analysts expect that Guess’ will post 2.68 earnings per share for the current year.

Guess’ Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, June 23rd. Investors of record on Wednesday, June 7th will be given a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 6.38%. This is a positive change from Guess”s previous quarterly dividend of $0.23. Guess”s dividend payout ratio is currently 47.62%.

Analysts Set New Price Targets

A number of brokerages have weighed in on GES. Telsey Advisory Group reissued a market perform rating and issued a $23.00 price target on shares of Guess’ in a report on Wednesday, March 15th. TheStreet downgraded Guess’ from a b rating to a c+ rating in a report on Wednesday. Small Cap Consu restated a buy rating on shares of Guess’ in a report on Tuesday, March 28th. Finally, StockNews.com upgraded Guess’ from a hold rating to a buy rating in a report on Friday. One investment analyst has rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of Moderate Buy and an average target price of $26.00.

Institutional Trading of Guess’

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Arrowstreet Capital Limited Partnership lifted its holdings in shares of Guess’ by 158.6% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 1,170,608 shares of the company’s stock valued at $24,220,000 after purchasing an additional 717,977 shares in the last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of Guess’ by 82.2% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 1,005,259 shares of the company’s stock worth $19,562,000 after purchasing an additional 453,565 shares in the last quarter. Norges Bank bought a new stake in shares of Guess’ during the 4th quarter worth approximately $6,088,000. Vanguard Group Inc. raised its stake in shares of Guess’ by 4.2% during the 1st quarter. Vanguard Group Inc. now owns 4,555,857 shares of the company’s stock worth $99,546,000 after purchasing an additional 184,983 shares in the last quarter. Finally, Point72 Asset Management L.P. acquired a new position in shares of Guess’ during the 4th quarter worth approximately $3,718,000. 58.81% of the stock is currently owned by institutional investors and hedge funds.

Guess’ Company Profile

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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.