Research Analysts Issue Forecasts for Vera Bradley, Inc.’s Q3 2023 Earnings (NASDAQ:VRA)

Vera Bradley, Inc. (NASDAQ:VRAGet Rating) – Investment analysts at Telsey Advisory Group decreased their Q3 2023 earnings per share estimates for shares of Vera Bradley in a research note issued to investors on Thursday, June 9th. Telsey Advisory Group analyst D. Telsey now anticipates that the textile maker will post earnings of $0.18 per share for the quarter, down from their previous estimate of $0.24. Telsey Advisory Group has a “Market Perform” rating and a $7.00 price objective on the stock. Telsey Advisory Group also issued estimates for Vera Bradley’s Q4 2023 earnings at $0.29 EPS, Q3 2024 earnings at $0.21 EPS, Q4 2024 earnings at $0.32 EPS and FY2024 earnings at $0.60 EPS.

Vera Bradley (NASDAQ:VRAGet Rating) last posted its quarterly earnings results on Wednesday, June 8th. The textile maker reported ($0.19) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.16) by ($0.03). Vera Bradley had a net margin of 3.30% and a return on equity of 6.10%. The company had revenue of $98.50 million for the quarter, compared to analyst estimates of $109.87 million. During the same quarter in the previous year, the business posted ($0.05) earnings per share. Vera Bradley’s revenue was down 9.7% on a year-over-year basis.

Several other brokerages also recently issued reports on VRA. Zacks Investment Research upgraded Vera Bradley from a “sell” rating to a “hold” rating in a research report on Wednesday, May 11th. StockNews.com upgraded Vera Bradley from a “hold” rating to a “buy” rating in a research report on Thursday. Three research analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to data from MarketBeat.com, Vera Bradley presently has a consensus rating of “Hold” and an average price target of $11.00.

Shares of Vera Bradley stock opened at $5.77 on Friday. Vera Bradley has a 1 year low of $5.56 and a 1 year high of $12.90. The company has a market capitalization of $187.20 million, a P/E ratio of 11.10 and a beta of 1.78. The business has a 50 day moving average price of $6.51 and a 200 day moving average price of $7.64.

A number of hedge funds have recently added to or reduced their stakes in VRA. Metropolitan Life Insurance Co NY purchased a new stake in shares of Vera Bradley during the 3rd quarter valued at $69,000. American Century Companies Inc. purchased a new stake in shares of Vera Bradley during the 1st quarter valued at $80,000. Maryland State Retirement & Pension System purchased a new stake in shares of Vera Bradley during the 4th quarter valued at $86,000. Allspring Global Investments Holdings LLC purchased a new stake in shares of Vera Bradley during the 4th quarter valued at $91,000. Finally, Voya Investment Management LLC purchased a new stake in shares of Vera Bradley during the 3rd quarter valued at $96,000. 70.79% of the stock is owned by hedge funds and other institutional investors.

Vera Bradley Company Profile (Get Rating)

Vera Bradley, Inc, together with its subsidiaries, designs, manufactures, and sells women's handbags, luggage and travel items, fashion and home accessories, and gifts. It operates through three segments: Vera Bradley Direct, Vera Bradley Indirect, and Pura Vida. The company offers bag products, such as totes, crossbodies, satchels, clutches, backpacks, baby bags, and lunch bags; accessories, including wallets, wristlets, eyeglass cases, scarves, and various technology accessories; bracelets, rings, and necklaces under Pura Vida brand name; and travel products consisting of rolling luggage, cosmetics, and travel and packing accessories, as well as travel bags comprising duffel and weekend bags.

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