Genesco Inc

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.

Read the January Feature Here

Read the full analyst report on GCO