Zacks: Brokerages Expect Warby Parker Inc. (NYSE:WRBY) Will Post Earnings of $0.02 Per Share

Analysts predict that Warby Parker Inc. (NYSE:WRBYGet Rating) will announce earnings per share (EPS) of $0.02 for the current quarter, according to Zacks. Two analysts have made estimates for Warby Parker’s earnings, with estimates ranging from $0.00 to $0.05. The firm is scheduled to announce its next quarterly earnings report on Monday, January 1st.

According to Zacks, analysts expect that Warby Parker will report full year earnings of $0.09 per share for the current year, with EPS estimates ranging from $0.06 to $0.11. For the next fiscal year, analysts anticipate that the firm will post earnings of $0.22 per share, with EPS estimates ranging from $0.19 to $0.25. Zacks Investment Research’s EPS calculations are an average based on a survey of research firms that follow Warby Parker.

Warby Parker (NYSE:WRBYGet Rating) last issued its quarterly earnings results on Thursday, March 17th. The company reported ($0.08) EPS for the quarter, topping the consensus estimate of ($0.10) by $0.02. The business had revenue of $132.89 million for the quarter, compared to the consensus estimate of $133.35 million. The company’s quarterly revenue was up 17.8% compared to the same quarter last year. During the same period last year, the firm earned ($0.04) earnings per share.

Several research analysts have weighed in on WRBY shares. Telsey Advisory Group lowered their price target on shares of Warby Parker from $69.00 to $60.00 and set an “outperform” rating on the stock in a report on Friday, March 18th. Robert W. Baird lowered their price target on shares of Warby Parker from $68.00 to $40.00 and set an “outperform” rating on the stock in a report on Friday, March 18th. Morgan Stanley decreased their target price on shares of Warby Parker from $57.00 to $24.00 in a research report on Friday, March 18th. Loop Capital decreased their target price on shares of Warby Parker from $52.00 to $27.00 in a research report on Friday, March 18th. Finally, Zacks Investment Research upgraded shares of Warby Parker from a “sell” rating to a “hold” rating in a research report on Friday. Five research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Buy” and an average target price of $42.00.

In other Warby Parker news, Director Teresa Briggs sold 19,325 shares of the firm’s stock in a transaction on Monday, March 21st. The shares were sold at an average price of $30.01, for a total value of $579,943.25. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, major shareholder Durable Capital Partners Lp purchased 19,927 shares of Warby Parker stock in a transaction on Tuesday, February 1st. The stock was bought at an average price of $36.08 per share, with a total value of $718,966.16. The disclosure for this purchase can be found here. Over the last 90 days, insiders acquired 1,690,382 shares of company stock valued at $53,514,638 and sold 30,446 shares valued at $857,968.

A number of institutional investors have recently added to or reduced their stakes in WRBY. General Catalyst Group Management LLC purchased a new position in Warby Parker during the third quarter worth about $511,303,000. D1 Capital Partners L.P. raised its position in Warby Parker by 64.4% in the fourth quarter. D1 Capital Partners L.P. now owns 13,404,023 shares of the company’s stock worth $624,091,000 after acquiring an additional 5,250,941 shares during the period. Capital Research Global Investors raised its position in Warby Parker by 158.2% in the fourth quarter. Capital Research Global Investors now owns 4,563,269 shares of the company’s stock worth $212,466,000 after acquiring an additional 2,795,782 shares during the period. Suvretta Capital Management LLC bought a new stake in Warby Parker in the third quarter worth about $53,050,000. Finally, Victory Capital Management Inc. bought a new stake in Warby Parker in the fourth quarter worth about $37,778,000. Institutional investors and hedge funds own 80.44% of the company’s stock.

Shares of WRBY stock traded down $1.73 on Friday, reaching $23.26. The stock had a trading volume of 1,136,470 shares, compared to its average volume of 1,080,157. Warby Parker has a 12 month low of $22.59 and a 12 month high of $60.30. The stock’s 50-day moving average price is $29.26.

About Warby Parker (Get Rating)

Warby Parker Inc provides eyewear products. It offers eyeglasses, sunglasses, light-responsive lenses, blue-light-filtering lenses, and contact lenses, as well as accessories, including cases, lenses kit with anti-fog spray, pouches, and anti-fog lens spray. The company also offers eye exams and vision tests directly to consumers through its retail stores, website, and mobile apps.

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