Guess’ (NYSE:GES) Updates Q2 2024 Earnings Guidance

Guess’ (NYSE:GES – Get Rating) issued an update on its second quarter 2024 earnings guidance on Friday morning. The company provided earnings per share guidance of $0.35-$0.42 for the period, compared to the consensus earnings per share estimate of $0.48. The company issued revenue guidance of $633.05 million-$642.69 million, compared to the consensus revenue estimate of $646.03 million. Guess’ also updated its FY 2024 guidance to $2.60-$2.90 EPS.

Guess’ Stock Performance

Shares of NYSE:GES opened at $18.80 on Friday. The company 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 50-day moving average price of $18.72 and a 200-day moving average price of $20.29. The company has a current ratio of 1.59, a quick ratio of 0.92 and a debt-to-equity ratio of 0.52. Guess’ has a 12 month low of $14.27 and a 12 month high of $24.15.

Guess’ (NYSE:GES – Get Rating) last announced 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. Guess’ had a net margin of 4.87% and a return on equity of 29.09%. The company had revenue of $569.80 million for the quarter, compared to analysts’ expectations of $555.63 million. During the same quarter in the previous year, the company earned $0.24 earnings per share. Guess”s quarterly revenue was down 4.0% on a year-over-year basis. As a group, equities analysts anticipate that Guess’ will post 2.68 EPS for the current year.

Guess’ Increases Dividend

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

Wall Street Analyst Weigh In

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

Institutional Investors Weigh In On Guess’

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. PEAK6 Investments LLC purchased a new stake in shares of Guess’ during the first quarter valued at approximately $213,000. Quadrature Capital Ltd purchased a new stake in shares of Guess’ during the third quarter valued at approximately $204,000. Guggenheim Capital LLC purchased a new stake in shares of Guess’ during the first quarter valued at approximately $201,000. ExodusPoint Capital Management LP purchased a new stake in shares of Guess’ during the second quarter valued at approximately $199,000. Finally, Teachers Retirement System of The State of Kentucky purchased a new stake in shares of Guess’ during the third quarter valued at approximately $164,000. Hedge funds and other institutional investors own 58.81% of the company’s stock.

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.