Brokerages Anticipate Vera Bradley, Inc. (VRA) Will Announce Quarterly Sales of $115.40 Million
Wall Street analysts expect Vera Bradley, Inc. (NASDAQ:VRA) to report $115.40 million in sales for the current fiscal quarter, according to Zacks. Four analysts have provided estimates for Vera Bradley’s earnings, with the highest sales estimate coming in at $117.00 million and the lowest estimate coming in at $113.70 million. Vera Bradley reported sales of $126.66 million in the same quarter last year, which indicates a negative year over year growth rate of 8.9%. The business is scheduled to report its next quarterly earnings results on Wednesday, December 6th.
On average, analysts expect that Vera Bradley will report full-year sales of $115.40 million for the current fiscal year, with estimates ranging from $461.00 million to $463.37 million. For the next fiscal year, analysts forecast that the business will post sales of $417.81 million per share, with estimates ranging from $411.63 million to $431.00 million. Zacks’ sales averages are a mean average based on a survey of analysts that that provide coverage for Vera Bradley.
Vera Bradley (NASDAQ:VRA) last posted its earnings results on Wednesday, August 30th. The textile maker reported $0.13 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.10 by $0.03. The company had revenue of $112.42 million for the quarter, compared to analyst estimates of $111.72 million. Vera Bradley had a net margin of 2.21% and a return on equity of 6.64%. The business’s revenue for the quarter was down 5.7% compared to the same quarter last year. During the same period last year, the business posted $0.17 earnings per share.
A number of research analysts have recently issued reports on the stock. BidaskClub downgraded shares of Vera Bradley from a “hold” rating to a “sell” rating in a research report on Wednesday. FBR & Co set a $12.00 price target on shares of Vera Bradley and gave the stock a “buy” rating in a research report on Monday, August 28th. KeyCorp restated a “hold” rating on shares of Vera Bradley in a research report on Friday, August 25th. Zacks Investment Research upgraded shares of Vera Bradley from a “sell” rating to a “hold” rating in a research report on Wednesday, August 2nd. Finally, Jefferies Group LLC restated a “hold” rating and issued a $10.00 price target on shares of Vera Bradley in a research report on Friday, July 14th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and two have issued a buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $10.60.
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In related news, major shareholder Michael C. Ray sold 237,500 shares of the business’s stock in a transaction on Tuesday, September 5th. The shares were sold at an average price of $8.23, for a total transaction of $1,954,625.00. Following the transaction, the insider now owns 120,712 shares in the company, valued at approximately $993,459.76. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Kimberly F. Colby sold 170,000 shares of the business’s stock in a transaction on Thursday, September 28th. The shares were sold at an average price of $8.47, for a total transaction of $1,439,900.00. Following the transaction, the executive vice president now owns 21,655 shares in the company, valued at approximately $183,417.85. The disclosure for this sale can be found here. 39.60% of the stock is owned by insiders.
Institutional investors have recently added to or reduced their stakes in the stock. Comerica Bank lifted its position in shares of Vera Bradley by 1.6% during the 1st quarter. Comerica Bank now owns 21,265 shares of the textile maker’s stock valued at $197,000 after acquiring an additional 335 shares during the period. Morgan Stanley lifted its position in shares of Vera Bradley by 20.6% during the 1st quarter. Morgan Stanley now owns 135,331 shares of the textile maker’s stock valued at $1,259,000 after acquiring an additional 23,101 shares during the period. Geode Capital Management LLC lifted its position in shares of Vera Bradley by 20.4% during the 1st quarter. Geode Capital Management LLC now owns 201,508 shares of the textile maker’s stock valued at $1,875,000 after acquiring an additional 34,134 shares during the period. Russell Investments Group Ltd. lifted its position in shares of Vera Bradley by 25.6% during the 2nd quarter. Russell Investments Group Ltd. now owns 67,259 shares of the textile maker’s stock valued at $658,000 after acquiring an additional 13,700 shares during the period. Finally, Systematic Financial Management LP increased its stake in Vera Bradley by 31.9% during the 2nd quarter. Systematic Financial Management LP now owns 192,985 shares of the textile maker’s stock valued at $1,887,000 after purchasing an additional 46,625 shares in the last quarter. Institutional investors own 60.60% of the company’s stock.
Vera Bradley (NASDAQ VRA) traded down 2.07% during midday trading on Wednesday, reaching $8.03. 149,770 shares of the company’s stock traded hands. The stock’s 50 day moving average price is $8.77 and its 200 day moving average price is $9.01. The firm has a market cap of $288.80 million, a price-to-earnings ratio of 27.69 and a beta of 0.86. Vera Bradley has a 1-year low of $7.70 and a 1-year high of $15.86.
Vera Bradley Company Profile
Vera Bradley, Inc (Vera Bradley) is a designer of women’s handbags, accessories, luggage and travel items, eyewear, and stationery and gifts. The Company’s segments include Direct and Indirect. The Company offers various products, including bags, travel, home and accessories. Its accessories include fashion accessories, such as wallets, eyeglass cases, jewelry, and scarves and various technology accessories.
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