Genesco Inc. (GCO) is projecting solid growth over the next few years and continues to rise on the heels of its latest earnings surprise.
Estimates Creeping Up
Since the January feature on Genesco, we have seen a few upward estimate revisions for full-year 2011. The average forecast is now $2.07, which marks a growth rate of 8%.
Next year’s estimates are averaging $2.35, which is a 14% growth rate. These estimates could climb after the latest quarterly report.
Beat the Street
On March 3rd Genesco reported a 6% increase in sales, to $479 million for the fourth quarter of fiscal 2009. Net income came in just shy of $28 million, or $1.15 per share.
This beat Wall Street’s expectations, as the Zacks Consensus was $1.11. This was the Genesco’s fourth consecutive earnings surprise.
The Chart
Shares have surged on the earnings news but remain a good value at just over 13 times forward earnings.
RCI) continues set new 52-week highs, yet remains a good value at under 14 times forward earnings. Read Full Article.
Insituform Technologies, Inc. (INSU) just topped forecasts which sent share price soaring. Analysts continue to revise estimates, giving the company excellent growth projections. Read Full Article.
Cardtronics (CATM) set records for revenue and cash flows leaving analysts optimistic about the company’s growth prospects. Read Full Article.
Littelfuse, Inc (LFUS) topped analysts expectations once again. This was the third consecutive earnings surprise and shares continue to climb. Read Full Article.
Bill Wilton is the Growth Stock Strategist for Zacks.com. He is also the Editor in charge of the market-beating Zacks Growth Trader serviceZacks Investment Research
