Guess? (NYSE:GES) Hits New 12-Month Low Following Weak Earnings

Guess?, Inc. (NYSE:GES) shares reached a new 52-week low during mid-day trading on Wednesday after the company announced weaker than expected quarterly earnings. The company traded as low as $15.28 and last traded at $15.28, with a volume of 67902 shares changing hands. The stock had previously closed at $17.33.

The company reported $0.34 EPS for the quarter, missing the consensus estimate of $0.37 by ($0.03). Guess? had a return on equity of 24.18% and a net margin of 6.05%. The company had revenue of $738.52 million for the quarter, compared to analyst estimates of $747.36 million. During the same period in the previous year, the firm earned $0.49 earnings per share. The company’s revenue for the quarter was up 13.4% compared to the same quarter last year.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the stock. Telsey Advisory Group dropped their price objective on shares of Guess? from $21.00 to $18.00 and set a “market perform” rating on the stock in a research note on Wednesday. UBS Group lowered their price target on shares of Guess? from $24.00 to $22.00 and set a “neutral” rating on the stock in a research note on Friday, August 30th. Four research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to MarketBeat.com, Guess? presently has a consensus rating of “Hold” and an average target price of $26.50.

Institutional Trading of Guess?

A number of hedge funds have recently made changes to their positions in GES. Quest Partners LLC lifted its position in shares of Guess? by 186.2% during the second quarter. Quest Partners LLC now owns 1,305 shares of the company’s stock worth $27,000 after purchasing an additional 849 shares during the last quarter. Quarry LP raised its position in shares of Guess? by 216.9% during the 3rd quarter. Quarry LP now owns 3,359 shares of the company’s stock worth $68,000 after buying an additional 2,299 shares in the last quarter. Sanctuary Advisors LLC acquired a new stake in shares of Guess? in the second quarter valued at $160,000. EMC Capital Management lifted its stake in Guess? by 10.0% during the first quarter. EMC Capital Management now owns 9,908 shares of the company’s stock valued at $312,000 after purchasing an additional 903 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of Guess? by 72.9% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 10,092 shares of the company’s stock valued at $206,000 after purchasing an additional 4,254 shares during the period. Hedge funds and other institutional investors own 61.74% of the company’s stock.

Guess? Stock Down 6.2 %

The stock has a market cap of $835.58 million, a price-to-earnings ratio of 6.16 and a beta of 1.94. The company has a debt-to-equity ratio of 1.01, a quick ratio of 0.76 and a current ratio of 1.47. The business’s 50 day moving average is $18.32 and its 200 day moving average is $20.77.

About Guess?

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.