B. Riley Equities Analysts Boost Earnings Estimates for Urban Outfitters, Inc. (NASDAQ:URBN)

Urban Outfitters, Inc. (NASDAQ:URBN – Get Rating) – Research analysts at B. Riley increased their Q3 2023 earnings estimates for Urban Outfitters in a research report issued to clients and investors on Wednesday, May 25th. B. Riley analyst S. Anderson now anticipates that the apparel retailer will post earnings of $0.93 per share for the quarter, up from their prior estimate of $0.91. B. Riley currently has a “Buy” rating and a $35.00 price target on the stock. B. Riley also issued estimates for Urban Outfitters’ FY2023 earnings at $2.67 EPS and FY2024 earnings at $2.95 EPS.

Urban Outfitters (NASDAQ:URBN – Get Rating) last announced its quarterly earnings results on Tuesday, May 24th. The apparel retailer reported $0.33 earnings per share for the quarter, missing analysts’ consensus estimates of $0.42 by ($0.09). The company had revenue of $1.05 billion during the quarter, compared to the consensus estimate of $1.07 billion. Urban Outfitters had a net margin of 6.83% and a return on equity of 18.55%. The business’s revenue was up 13.2% on a year-over-year basis. During the same quarter last year, the company earned $0.54 earnings per share.

Other equities analysts have also issued research reports about the company. Robert W. Baird cut their target price on Urban Outfitters from $32.00 to $24.00 and set a “neutral” rating on the stock in a research note on Wednesday. BMO Capital Markets cut their price objective on Urban Outfitters from $27.00 to $21.00 in a research report on Wednesday. Barclays dropped their price objective on Urban Outfitters from $29.00 to $21.00 in a report on Thursday. JPMorgan Chase & Co. decreased their price target on Urban Outfitters from $32.00 to $26.00 in a research note on Monday, May 16th. Finally, TheStreet downgraded Urban Outfitters from a “b-” rating to a “c+” rating in a report on Friday, May 20th. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $31.14.

Shares of URBN opened at $20.77 on Thursday. Urban Outfitters has a 12-month low of $17.81 and a 12-month high of $42.10. The firm has a market capitalization of $1.99 billion, a PE ratio of 6.66, a price-to-earnings-growth ratio of 0.38 and a beta of 1.43. The stock’s fifty day simple moving average is $24.28 and its 200-day simple moving average is $27.68.

In related news, CAO Azeez Hayne sold 5,000 shares of the firm’s stock in a transaction on Monday, March 21st. The stock was sold at an average price of $26.61, for a total value of $133,050.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 27.50% of the stock is owned by corporate insiders.

Several hedge funds have recently bought and sold shares of the stock. Man Group plc increased its holdings in Urban Outfitters by 98.6% in the 3rd quarter. Man Group plc now owns 236,958 shares of the apparel retailer’s stock worth $7,035,000 after purchasing an additional 117,632 shares in the last quarter. Allspring Global Investments Holdings LLC purchased a new stake in shares of Urban Outfitters during the fourth quarter valued at approximately $381,000. Verdence Capital Advisors LLC purchased a new stake in Urban Outfitters in the fourth quarter worth $270,000. Lazard Asset Management LLC grew its position in shares of Urban Outfitters by 24.4% in the fourth quarter. Lazard Asset Management LLC now owns 145,753 shares of the apparel retailer’s stock valued at $4,279,000 after purchasing an additional 28,613 shares in the last quarter. Finally, Brookfield Asset Management Inc. purchased a new position in shares of Urban Outfitters in the third quarter valued at $2,735,000. 69.35% of the stock is currently owned by institutional investors and hedge funds.

About Urban Outfitters (Get Rating)

Urban Outfitters, Inc engages in the retail and wholesale of general consumer products. The company operates through three segments: Retail, Wholesale, and Nully. It operates Urban Outfitters stores, which offer women's and men's fashion apparel, activewear, intimates, footwear, accessories, home goods, electronics, and beauty products for young adults aged 18 to 28; and Anthropologie stores that provide women's casual apparel, accessories, intimates, shoes, and home furnishings, as well as gifts, decorative items, and beauty and wellness products for women aged 28 to 45.

Featured Stories