Urban Outfitters, Inc. (URBN) Expected to Post Quarterly Sales of $857.52 Million
Wall Street brokerages forecast that Urban Outfitters, Inc. (NASDAQ:URBN) will announce sales of $857.52 million for the current quarter, according to Zacks. Ten analysts have provided estimates for Urban Outfitters’ earnings. The lowest sales estimate is $842.80 million and the highest is $869.60 million. Urban Outfitters reported sales of $862.49 million in the same quarter last year, which would suggest a negative year-over-year growth rate of 0.6%. The company is scheduled to report its next quarterly earnings report after the market closes on Monday, November 20th.
On average, analysts expect that Urban Outfitters will report full year sales of $857.52 million for the current financial year, with estimates ranging from $3.48 billion to $3.55 billion. For the next fiscal year, analysts anticipate that the company will report sales of $3.61 billion per share, with estimates ranging from $3.52 billion to $3.69 billion. Zacks’ sales averages are an average based on a survey of sell-side analysts that that provide coverage for Urban Outfitters.
Urban Outfitters (NASDAQ:URBN) last issued its quarterly earnings results on Tuesday, August 15th. The apparel retailer reported $0.44 earnings per share for the quarter, beating analysts’ consensus estimates of $0.37 by $0.07. The business had revenue of $873.00 million during the quarter, compared to analyst estimates of $860.80 million. Urban Outfitters had a net margin of 4.92% and a return on equity of 13.61%. Urban Outfitters’s revenue for the quarter was down 2.0% compared to the same quarter last year. During the same quarter last year, the business posted $0.66 earnings per share.
URBN has been the subject of several research reports. Royal Bank Of Canada set a $17.00 price objective on shares of Urban Outfitters and gave the company a “hold” rating in a research note on Monday, July 17th. BidaskClub raised shares of Urban Outfitters from a “strong sell” rating to a “sell” rating in a research note on Monday, July 31st. Zacks Investment Research raised shares of Urban Outfitters from a “hold” rating to a “buy” rating and set a $26.00 price objective for the company in a research note on Tuesday, October 17th. Morgan Stanley increased their price objective on shares of Urban Outfitters from $17.00 to $19.00 and gave the company an “equal weight” rating in a research note on Wednesday, August 16th. Finally, Bank of America Corporation set a $24.00 price objective on shares of Urban Outfitters and gave the company a “buy” rating in a research note on Wednesday, August 16th. Three analysts have rated the stock with a sell rating, twenty have given a hold rating and eight have given a buy rating to the stock. Urban Outfitters has a consensus rating of “Hold” and a consensus price target of $22.39.
Shares of Urban Outfitters (NASDAQ URBN) opened at 25.14 on Monday. The company has a 50 day moving average of $23.42 and a 200-day moving average of $20.72. Urban Outfitters has a one year low of $16.19 and a one year high of $40.80. The firm has a market cap of $2.76 billion, a price-to-earnings ratio of 16.83 and a beta of 0.62.
Urban Outfitters declared that its board has authorized a share repurchase plan on Thursday, August 24th that allows the company to repurchase $20.00 million in outstanding shares. This repurchase authorization allows the apparel retailer to repurchase up to 0.9% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s management believes its shares are undervalued.
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Several institutional investors have recently added to or reduced their stakes in the business. Oppenheimer Asset Management Inc. lifted its stake in shares of Urban Outfitters by 0.4% in the second quarter. Oppenheimer Asset Management Inc. now owns 10,691 shares of the apparel retailer’s stock valued at $198,000 after buying an additional 43 shares in the last quarter. Meeder Asset Management Inc. lifted its stake in shares of Urban Outfitters by 0.6% in the second quarter. Meeder Asset Management Inc. now owns 27,028 shares of the apparel retailer’s stock valued at $501,000 after buying an additional 154 shares in the last quarter. Advisor Group Inc. lifted its stake in shares of Urban Outfitters by 1.1% in the second quarter. Advisor Group Inc. now owns 32,251 shares of the apparel retailer’s stock valued at $595,000 after buying an additional 338 shares in the last quarter. Empirical Finance LLC lifted its stake in shares of Urban Outfitters by 0.5% in the second quarter. Empirical Finance LLC now owns 66,575 shares of the apparel retailer’s stock valued at $1,235,000 after buying an additional 360 shares in the last quarter. Finally, Capstone Asset Management Co. lifted its stake in shares of Urban Outfitters by 2.5% in the second quarter. Capstone Asset Management Co. now owns 15,738 shares of the apparel retailer’s stock valued at $292,000 after buying an additional 380 shares in the last quarter. 87.73% of the stock is currently owned by hedge funds and other institutional investors.
About Urban Outfitters
Urban Outfitters, Inc is a lifestyle specialty retail company. The Company operates through two segments: Retail and Wholesale. The Company’s Retail segment consists of its Urban Outfitters, Anthropologie, Free People, Terrain and Bhldn brands, whose merchandise is sold to its customers through retail stores, Websites, mobile applications, catalogs and customer contact centers.
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