Wedbush Analysts Cut Earnings Estimates for Urban Outfitters Inc. (URBN)
Urban Outfitters Inc. (NASDAQ:URBN) – Stock analysts at Wedbush cut their Q1 2018 earnings per share (EPS) estimates for shares of Urban Outfitters in a research report issued to clients and investors on Friday. Wedbush analyst M. Brown now forecasts that the brokerage will post earnings of $0.29 per share for the quarter, down from their previous forecast of $0.30. Wedbush has a “Outperform” rating and a $34.00 price target on the stock.
URBN has been the subject of several other reports. BMO Capital Markets reissued an “average” rating and issued a $28.00 price objective on shares of Urban Outfitters in a research report on Thursday, July 7th. Evercore ISI upgraded Urban Outfitters from a “hold” rating to a “buy” rating and boosted their target price for the company from $38.00 to $40.00 in a research note on Wednesday, August 17th. Citigroup Inc. restated a “buy” rating and issued a $35.00 target price on shares of Urban Outfitters in a research note on Monday, June 13th. Goldman Sachs Group Inc. boosted their target price on Urban Outfitters from $29.00 to $33.00 and gave the company a “buy” rating in a research note on Wednesday, August 17th. Finally, Stifel Nicolaus boosted their target price on Urban Outfitters from $35.00 to $40.00 and gave the company a “buy” rating in a research note on Wednesday, August 17th. Twenty-two equities research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company. Urban Outfitters currently has an average rating of “Hold” and an average target price of $35.63.
Urban Outfitters (NASDAQ:URBN) opened at 36.61 on Monday. Urban Outfitters has a 12 month low of $19.26 and a 12 month high of $37.82. The company has a 50-day moving average of $35.96 and a 200-day moving average of $31.02. The company has a market cap of $4.29 billion, a price-to-earnings ratio of 18.85 and a beta of 0.91.
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Urban Outfitters (NASDAQ:URBN) last announced its earnings results on Tuesday, August 16th. The apparel retailer reported $0.66 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.56 by $0.10. The firm earned $890.57 million during the quarter, compared to analyst estimates of $886.39 million. Urban Outfitters had a net margin of 6.63% and a return on equity of 19.57%. Urban Outfitters’s revenue was up 2.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.52 EPS.
Large investors have recently modified their holdings of the stock. Emerald Advisers Inc. PA boosted its stake in shares of Urban Outfitters by 286.2% in the second quarter. Emerald Advisers Inc. PA now owns 661,805 shares of the apparel retailer’s stock valued at $18,200,000 after buying an additional 490,430 shares during the last quarter. Meeder Asset Management Inc. boosted its stake in Urban Outfitters by 25.5% in the second quarter. Meeder Asset Management Inc. now owns 32,918 shares of the apparel retailer’s stock valued at $906,000 after buying an additional 6,685 shares in the last quarter. Hancock Holding Co. acquired a new stake in Urban Outfitters during the first quarter valued at approximately $3,336,000. Nuveen Asset Management LLC acquired a new stake in Urban Outfitters during the first quarter valued at approximately $1,162,000. Finally, Invictus RG boosted its stake in Urban Outfitters by 1,074.9% in the first quarter. Invictus RG now owns 10,797 shares of the apparel retailer’s stock valued at $357,000 after buying an additional 9,878 shares in the last quarter. 72.05% of the stock is owned by institutional investors.
In other news, CFO Frank Conforti sold 4,000 shares of the stock in a transaction dated Friday, August 19th. The stock was sold at an average price of $37.42, for a total value of $149,680.00. Following the completion of the sale, the chief financial officer now owns 4,000 shares of the company’s stock, valued at $149,680. The sale was disclosed in a legal filing with the SEC, which is available at this link. 24.30% of the stock is owned by insiders.
About Urban Outfitters
Urban Outfitters, Inc (Urban Outfitters) is a lifestyle retail company. The Company operates through two business segments: Retail and Wholesale. The Retail segment consists of the Company’s Urban Outfitters, Anthropologie Group, Free People and Terrain brands, whose merchandise is sold directly to the Company’s customers through retail stores, Websites, mobile applications, catalogs and customer contact centers.
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