Bank of America just raised its EUR/USD forecast
Guess? Inc . (NYSE:GES) stock has touched a 52-week low, dipping to $11.8 as the fashion retailer grapples with a challenging market environment. Despite the current price weakness, the company maintains a healthy 10% dividend yield and trades at an attractive P/E ratio of 6.75. InvestingPro analysis indicates the stock is currently undervalued. This latest price level reflects a significant downturn from the previous year, with the stock experiencing a steep 1-year change of -48.2%. Investors are closely monitoring the company’s performance as it navigates through the headwinds affecting the retail sector, including shifting consumer trends and global economic pressures. The 52-week low serves as a critical indicator of the stock’s current trajectory and market sentiment towards the company’s future prospects. With a current ratio of 1.54 and strong free cash flow yield, the company maintains solid financial fundamentals. For deeper insights into GES’s valuation and 13 additional exclusive ProTips, visit InvestingPro.
In other recent news, Guess Inc. reported a 13% revenue increase in the third quarter, reaching $739 million, primarily driven by the acquisition of the Rag and Bone brand. Despite this growth, the company faced challenges in North American and Asian retail markets, with decreased store traffic and shifting consumer spending patterns. Guess has adjusted its full-year revenue growth projection to 7-8% and revised its adjusted EPS outlook to $1.85-$2.00, reflecting current market conditions. In other developments, Jefferies maintained a Hold rating on Guess’s stock, reducing the price target to $14 due to ongoing challenges in the North American retail sector. Telsey Advisory Group also revised its outlook, lowering the price target to $18 while maintaining a Market Perform rating, citing disappointing third-quarter sales and macroeconomic pressures. Additionally, Guess appointed Christopher N. Lewis (JO:LEWJ) as a new independent director following the resignation of Thomas J. Barrack Jr. Lewis, with extensive experience in the legal sector, will serve on the board until the 2025 annual shareholders meeting. These changes reflect Guess’s ongoing efforts to navigate a competitive retail environment and strengthen its governance and strategic initiatives.
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