FY2017 EPS Estimates for Urban Outfitters Inc. (URBN) Boosted by FBR & Co
Urban Outfitters Inc. (NASDAQ:URBN) – Equities researchers at FBR & Co lifted their FY2017 EPS estimates for Urban Outfitters in a research report issued on Monday. FBR & Co analyst S. Anderson now expects that the firm will post earnings of $1.99 per share for the year, up from their prior forecast of $1.93. FBR & Co currently has a “Market Perform” rating and a $31.00 price target on the stock. FBR & Co also issued estimates for Urban Outfitters’ Q4 2017 earnings at $0.68 EPS, FY2018 earnings at $2.20 EPS and FY2019 earnings at $2.38 EPS.
URBN has been the topic of a number of other research reports. Royal Bank Of Canada lifted their price target on shares of Urban Outfitters from $29.00 to $34.00 and gave the company a “sector perform” rating in a research report on Wednesday, August 17th. Telsey Advisory Group lifted their price target on shares of Urban Outfitters from $31.00 to $39.00 and gave the stock a “market perform” rating in a research note on Wednesday, August 17th. Deutsche Bank AG lifted their price target on shares of Urban Outfitters from $28.00 to $32.00 and gave the stock a “hold” rating in a research note on Monday, July 25th. Mizuho lifted their price target on shares of Urban Outfitters from $28.00 to $32.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 17th. Finally, Jefferies Group reiterated a “buy” rating and set a $45.00 price target (up previously from $40.00) on shares of Urban Outfitters in a research note on Friday, September 2nd. One analyst has rated the stock with a sell rating, eighteen have given a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $35.90.
Urban Outfitters (NASDAQ:URBN) last issued its earnings results on Tuesday, August 16th. The apparel retailer reported $0.66 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.56 by $0.10. The firm earned $890.57 million during the quarter, compared to analysts’ expectations of $886.39 million. Urban Outfitters had a net margin of 6.63% and a return on equity of 19.57%. The firm’s revenue for the quarter was up 2.7% compared to the same quarter last year. During the same period last year, the firm posted $0.52 earnings per share.
Several hedge funds have recently made changes to their positions in URBN. Credit Agricole S A raised its stake in shares of Urban Outfitters by 44.4% in the first quarter. Credit Agricole S A now owns 16,264 shares of the apparel retailer’s stock worth $538,000 after buying an additional 5,000 shares during the last quarter. Renaissance Technologies LLC increased its position in shares of Urban Outfitters by 26.7% in the first quarter. Renaissance Technologies LLC now owns 340,100 shares of the apparel retailer’s stock worth $11,254,000 after buying an additional 71,700 shares during the period. Nuveen Asset Management LLC bought a new position in shares of Urban Outfitters during the first quarter worth about $1,162,000. Adage Capital Partners GP L.L.C. bought a new position in shares of Urban Outfitters during the first quarter worth about $4,308,000. Finally, Envestnet Asset Management Inc. increased its position in shares of Urban Outfitters by 40.2% in the first quarter. Envestnet Asset Management Inc. now owns 53,492 shares of the apparel retailer’s stock worth $1,770,000 after buying an additional 15,337 shares during the period. 73.56% of the stock is currently owned by hedge funds and other institutional investors.
In other news, CFO Frank Conforti sold 4,000 shares of Urban Outfitters stock in a transaction dated Friday, August 19th. The stock was sold at an average price of $37.42, for a total transaction of $149,680.00. Following the sale, the chief financial officer now directly owns 4,000 shares of the company’s stock, valued at $149,680. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 24.30% of the company’s stock.
About Urban Outfitters
Urban Outfitters, Inc (Urban Outfitters) is a lifestyle retail company. The Company operates through two business segments: Retail and Wholesale. The Retail segment consists of the Company’s Urban Outfitters, Anthropologie Group, Free People and Terrain brands, whose merchandise is sold directly to the Company’s customers through retail stores, Websites, mobile applications, catalogs and customer contact centers.
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