Vera Bradley, Inc. (VRA) Expected to Announce Quarterly Sales of $115.40 Million
Wall Street brokerages expect Vera Bradley, Inc. (NASDAQ:VRA) to announce sales of $115.40 million for the current fiscal quarter, according to Zacks. Four analysts have made estimates for Vera Bradley’s earnings, with the lowest sales estimate coming in at $113.70 million and the highest estimate coming in at $117.00 million. Vera Bradley posted sales of $126.66 million during the same quarter last year, which suggests a negative year-over-year growth rate of 8.9%. The company is expected to issue its next quarterly earnings report on Wednesday, December 6th.
On average, analysts expect that Vera Bradley will report full-year sales of $115.40 million for the current financial year, with estimates ranging from $461.00 million to $463.37 million. For the next financial year, analysts forecast that the firm will post sales of $417.81 million per share, with estimates ranging from $411.63 million to $431.00 million. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research firms that follow Vera Bradley.
Vera Bradley (NASDAQ:VRA) last announced its quarterly earnings data on Wednesday, August 30th. The textile maker reported $0.13 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.10 by $0.03. Vera Bradley had a net margin of 2.21% and a return on equity of 6.64%. The business had revenue of $112.42 million for the quarter, compared to analyst estimates of $111.72 million. During the same period in the prior year, the business posted $0.17 earnings per share. Vera Bradley’s revenue was down 5.7% compared to the same quarter last year.
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, October 11th. 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. Jefferies Group LLC restated a “hold” rating and issued a $11.00 price target on shares of Vera Bradley in a research report on Thursday, October 12th. Finally, Zacks Investment Research upgraded shares of Vera Bradley from a “sell” rating to a “hold” rating in a research report on Wednesday, August 2nd. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and two have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $10.80.
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In related news, 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, 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 disclosure for this sale can be found here. 39.60% of the stock is owned by insiders.
Hedge funds have recently made changes to their positions in the business. Teton Advisors Inc. bought a new stake in Vera Bradley during the 2nd quarter valued at $102,000. LMR Partners LLP bought a new stake in Vera Bradley during the 2nd quarter valued at $115,000. Voya Investment Management LLC increased its stake in Vera Bradley by 29.4% during the 2nd quarter. Voya Investment Management LLC now owns 13,261 shares of the textile maker’s stock valued at $130,000 after purchasing an additional 3,014 shares in the last quarter. Wells Fargo & Company MN increased its stake in Vera Bradley by 3.4% during the 1st quarter. Wells Fargo & Company MN now owns 13,408 shares of the textile maker’s stock valued at $125,000 after purchasing an additional 444 shares in the last quarter. Finally, Texas Permanent School Fund increased its stake in Vera Bradley by 1.2% during the 2nd quarter. Texas Permanent School Fund now owns 13,789 shares of the textile maker’s stock valued at $135,000 after purchasing an additional 157 shares in the last quarter. Institutional investors and hedge funds own 60.53% of the company’s stock.
Vera Bradley (VRA) opened at 7.28 on Monday. The firm has a market capitalization of $261.83 million, a price-to-earnings ratio of 25.72 and a beta of 0.86. The company has a 50-day moving average of $8.20 and a 200 day moving average of $8.91. Vera Bradley has a one year low of $7.25 and a one year high of $15.86.
About Vera Bradley
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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