Urban Outfitters, Inc. Forecasted to Earn Q3 2023 Earnings of $0.79 Per Share (NASDAQ:URBN)

Urban Outfitters, Inc. (NASDAQ:URBNGet Rating) – Jefferies Financial Group cut their Q3 2023 earnings per share estimates for Urban Outfitters in a report issued on Wednesday, May 25th. Jefferies Financial Group analyst C. Tarlowe now expects that the apparel retailer will post earnings of $0.79 per share for the quarter, down from their prior forecast of $0.92. Jefferies Financial Group also issued estimates for Urban Outfitters’ Q4 2023 earnings at $0.56 EPS, Q3 2024 earnings at $0.89 EPS and Q4 2024 earnings at $0.65 EPS.

URBN has been the topic of a number of other research reports. Morgan Stanley cut their price objective on shares of Urban Outfitters from $37.00 to $34.00 and set an “overweight” rating on the stock in a report on Monday, March 7th. B. Riley cut their price target on shares of Urban Outfitters from $39.00 to $35.00 and set a “buy” rating on the stock in a report on Wednesday. Wells Fargo & Company cut their price target on shares of Urban Outfitters from $28.00 to $20.00 and set an “equal weight” rating on the stock in a report on Wednesday. StockNews.com assumed coverage on shares of Urban Outfitters in a research report on Thursday, March 31st. They set a “hold” rating on the stock. Finally, Deutsche Bank Aktiengesellschaft lowered their price objective on shares of Urban Outfitters from $35.00 to $24.00 in a research report on Wednesday. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $30.46.

Shares of URBN opened at $20.85 on Thursday. The stock has a market cap of $1.99 billion, a PE ratio of 6.68, a price-to-earnings-growth ratio of 0.38 and a beta of 1.43. Urban Outfitters has a fifty-two week low of $17.81 and a fifty-two week high of $42.10. The firm’s 50-day simple moving average is $24.16 and its two-hundred day simple moving average is $27.58.

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

In other Urban Outfitters news, CAO Azeez Hayne sold 5,000 shares of the business’s stock in a transaction that occurred on Monday, March 21st. The shares were sold at an average price of $26.61, for a total transaction of $133,050.00. The transaction was disclosed in a filing with the SEC, which is available at this link. 27.50% of the stock is owned by insiders.

A number of large investors have recently bought and sold shares of URBN. BNP Paribas Arbitrage SA lifted its stake in shares of Urban Outfitters by 32.0% in the first quarter. BNP Paribas Arbitrage SA now owns 33,600 shares of the apparel retailer’s stock worth $844,000 after buying an additional 8,151 shares in the last quarter. Keeley Teton Advisors LLC acquired a new position in shares of Urban Outfitters in the first quarter valued at approximately $349,000. Walleye Capital LLC acquired a new position in shares of Urban Outfitters in the first quarter valued at approximately $2,652,000. Virtu Financial LLC acquired a new position in shares of Urban Outfitters in the first quarter valued at approximately $202,000. Finally, Quantamental Technologies LLC grew its holdings in shares of Urban Outfitters by 3.2% in the first quarter. Quantamental Technologies LLC now owns 18,199 shares of the apparel retailer’s stock valued at $457,000 after purchasing an additional 561 shares in the last quarter. Institutional investors own 69.35% of the company’s stock.

Urban Outfitters Company Profile (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.

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Earnings History and Estimates for Urban Outfitters (NASDAQ:URBN)

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