Guess? (NYSE:GES) Hits New 52-Week Low on Disappointing Earnings

Guess?, Inc. (NYSE:GES) shares hit a new 52-week low 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 traded. 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). The business had revenue of $738.52 million for the quarter, compared to analysts’ expectations of $747.36 million. Guess? had a net margin of 6.05% and a return on equity of 24.18%. Guess?’s revenue for the quarter was up 13.4% compared to the same quarter last year. During the same period last year, the company earned $0.49 earnings per share.

Guess? Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Shareholders of record on Wednesday, December 11th will be issued a dividend of $0.30 per share. The ex-dividend date is Wednesday, December 11th. This represents a $1.20 dividend on an annualized basis and a yield of 7.32%. Guess?’s payout ratio is 48.39%.

Wall Street Analyst Weigh In

GES has been the subject of several recent research reports. Telsey Advisory Group reduced their price target on Guess? from $21.00 to $18.00 and set a “market perform” rating for the company in a research report on Wednesday. UBS Group reduced their target price on Guess? from $18.00 to $16.00 and set a “neutral” rating for the company in a report on Wednesday. Four investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat.com, Guess? presently has a consensus rating of “Hold” and a consensus target price of $25.00.

Institutional Investors Weigh In On Guess?

Large investors have recently added to or reduced their stakes in the business. Pacer Advisors Inc. purchased a new position in shares of Guess? in the 2nd quarter worth about $82,286,000. Millennium Management LLC boosted its stake in shares of Guess? by 2,180.2% in the 2nd quarter. Millennium Management LLC now owns 1,370,131 shares of the company’s stock valued at $27,951,000 after purchasing an additional 1,310,042 shares in the last quarter. Sanctuary Advisors LLC boosted its stake in shares of Guess? by 8,708.5% in the 3rd quarter. Sanctuary Advisors LLC now owns 691,030 shares of the company’s stock valued at $13,910,000 after purchasing an additional 683,185 shares in the last quarter. Vanguard Group Inc. grew its holdings in shares of Guess? by 15.7% during the 1st quarter. Vanguard Group Inc. now owns 3,879,570 shares of the company’s stock valued at $122,090,000 after purchasing an additional 525,064 shares during the last quarter. Finally, Hennessy Advisors Inc. raised its position in Guess? by 41.6% in the 2nd quarter. Hennessy Advisors Inc. now owns 1,615,800 shares of the company’s stock worth $32,962,000 after purchasing an additional 474,700 shares during the period. Institutional investors own 61.74% of the company’s stock.

Guess? Price Performance

The firm’s 50 day simple moving average is $18.19 and its two-hundred day simple moving average is $20.71. The company has a debt-to-equity ratio of 1.01, a current ratio of 1.47 and a quick ratio of 0.76. The firm has a market capitalization of $842.81 million, a P/E ratio of 6.61 and a beta of 1.94.

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.