Urban Outfitters Inc. (URBN) Issues Earnings Results, Misses Estimates By $0.04 EPS
Urban Outfitters Inc. (NASDAQ:URBN) announced its earnings results on Tuesday. The apparel retailer reported $0.40 earnings per share for the quarter, missing the consensus estimate of $0.44 by $0.04. Urban Outfitters had a net margin of 6.63% and a return on equity of 19.57%. The company earned $862.50 million during the quarter, compared to analysts’ expectations of $869.07 million. During the same quarter last year, the business posted $0.42 earnings per share. The company’s revenue for the quarter was up 4.5% compared to the same quarter last year.
Urban Outfitters (NASDAQ:URBN) opened at 39.01 on Wednesday. The company has a market capitalization of $4.57 billion, a price-to-earnings ratio of 20.09 and a beta of 0.69. Urban Outfitters has a one year low of $20.06 and a one year high of $40.80. The company has a 50-day moving average price of $35.27 and a 200-day moving average price of $31.93.
Several research analysts have weighed in on the company. Vetr downgraded Urban Outfitters from a “hold” rating to a “sell” rating and set a $37.12 target price on the stock. in a research note on Wednesday. Wunderlich set a $40.00 target price on Urban Outfitters and gave the company a “buy” rating in a research note on Monday. Morgan Stanley downgraded Urban Outfitters from an “overweight” rating to an “equal weight” rating and lifted their target price for the company from $36.00 to $39.00 in a research note on Thursday, November 17th. Citigroup Inc. upgraded Urban Outfitters from a “neutral” rating to a “buy” rating in a research note on Tuesday, November 15th. Finally, Jefferies Group set a $45.00 price target on Urban Outfitters and gave the company a “buy” rating in a report on Monday, October 24th. One equities research analyst has rated the stock with a sell rating, nineteen have issued a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the stock. Urban Outfitters currently has an average rating of “Hold” and a consensus target price of $36.23.
In other Urban Outfitters news, General Counsel Azeez Hayne sold 6,260 shares of the firm’s stock in a transaction dated Monday, November 14th. The shares were sold at an average price of $39.95, for a total transaction of $250,087.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 24.30% of the company’s stock.
A number of hedge funds and other institutional investors have recently made changes to their positions in URBN. Emerald Advisers Inc. PA boosted its position in shares of Urban Outfitters by 286.2% in the second quarter. Emerald Advisers Inc. PA now owns 661,805 shares of the apparel retailer’s stock worth $18,200,000 after buying an additional 490,430 shares in the last quarter. Meeder Asset Management Inc. boosted its position in shares of Urban Outfitters by 25.5% in the second quarter. Meeder Asset Management Inc. now owns 32,918 shares of the apparel retailer’s stock worth $906,000 after buying an additional 6,685 shares in the last quarter. GW&K Investment Management LLC boosted its position in shares of Urban Outfitters by 18.1% in the second quarter. GW&K Investment Management LLC now owns 404,123 shares of the apparel retailer’s stock worth $11,113,000 after buying an additional 62,027 shares in the last quarter. Emerald Mutual Fund Advisers Trust acquired a new position in shares of Urban Outfitters during the second quarter worth approximately $9,815,000. Finally, Nuveen Asset Management LLC acquired a new position in shares of Urban Outfitters during the first quarter worth approximately $1,162,000. Hedge funds and other institutional investors own 74.17% 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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