Urban Outfitters, Inc. (NASDAQ:URBN – Get Rating) – Equities research analysts at Jefferies Financial Group lowered their Q2 2023 earnings estimates for shares of Urban Outfitters in a report released on Wednesday, May 25th. Jefferies Financial Group analyst C. Tarlowe now anticipates that the apparel retailer will post earnings per share of $0.80 for the quarter, down from their prior estimate of $1.16. Jefferies Financial Group also issued estimates for Urban Outfitters’ FY2023 earnings at $2.48 EPS, Q1 2024 earnings at $0.44 EPS, Q2 2024 earnings at $0.93 EPS and FY2024 earnings at $2.92 EPS.
A number of other research firms also recently weighed in on URBN. Robert W. Baird reduced their price target on shares of Urban Outfitters from $32.00 to $24.00 and set a “neutral” rating on the stock in a research note on Wednesday. Barclays decreased their price target on shares of Urban Outfitters from $29.00 to $21.00 and set an “equal weight” rating for the company in a research report on Thursday. TheStreet lowered Urban Outfitters from a “b-” rating to a “c+” rating in a research note on Friday, May 20th. B. Riley decreased their price target on Urban Outfitters from $39.00 to $35.00 and set a “buy” rating for the company in a report on Wednesday. Finally, JPMorgan Chase & Co. dropped their price objective on Urban Outfitters from $32.00 to $26.00 in a research note on Monday, May 16th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $30.46.
Urban Outfitters stock opened at $20.85 on Friday. The stock has a market cap of $1.99 billion, a PE ratio of 6.68, a P/E/G ratio of 0.38 and a beta of 1.43. Urban Outfitters has a 12-month low of $17.81 and a 12-month high of $42.10. The business’s 50-day moving average price is $24.16 and its two-hundred day moving average price is $27.58.
Urban Outfitters (NASDAQ:URBN – Get Rating) last issued its quarterly earnings results on Tuesday, May 24th. The apparel retailer reported $0.33 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.42 by ($0.09). Urban Outfitters had a net margin of 6.83% and a return on equity of 18.55%. The business had revenue of $1.05 billion during the quarter, compared to the consensus estimate of $1.07 billion. During the same quarter in the previous year, the business posted $0.54 EPS. The company’s revenue for the quarter was up 13.2% on a year-over-year basis.
A number of hedge funds have recently modified their holdings of the business. Man Group plc grew its stake in Urban Outfitters by 98.6% in the 3rd quarter. Man Group plc now owns 236,958 shares of the apparel retailer’s stock valued at $7,035,000 after purchasing an additional 117,632 shares during the period. Allspring Global Investments Holdings LLC purchased a new stake in Urban Outfitters during the fourth quarter worth about $381,000. Verdence Capital Advisors LLC bought a new stake in Urban Outfitters in the fourth quarter worth about $270,000. Lazard Asset Management LLC boosted its stake in Urban Outfitters by 24.4% in the fourth quarter. Lazard Asset Management LLC now owns 145,753 shares of the apparel retailer’s stock valued at $4,279,000 after acquiring an additional 28,613 shares during the last quarter. Finally, Brookfield Asset Management Inc. bought a new position in shares of Urban Outfitters during the 3rd quarter valued at approximately $2,735,000. 69.35% of the stock is owned by institutional investors and hedge funds.
In other news, CAO Azeez Hayne sold 5,000 shares of the stock in a transaction that occurred on Monday, March 21st. The stock was sold at an average price of $26.61, for a total value of $133,050.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 27.50% of the stock is currently owned by insiders.
About Urban Outfitters (Get Rating)
Urban Outfitters, Inc engages in the retail and wholesale of general consumer products. The company operates through three segments: Retail, Wholesale, and Nully. It operates Urban Outfitters stores, which offer women’s and men’s fashion apparel, activewear, intimates, footwear, accessories, home goods, electronics, and beauty products for young adults aged 18 to 28; and Anthropologie stores that provide women’s casual apparel, accessories, intimates, shoes, and home furnishings, as well as gifts, decorative items, and beauty and wellness products for women aged 28 to 45.
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