Vera Bradley (NASDAQ:VRA) Releases FY23 Earnings Guidance

Vera Bradley (NASDAQ:VRAGet Rating) updated its FY23 earnings guidance on Wednesday. The company provided earnings per share (EPS) guidance of $0.35-0.50 for the period, compared to the consensus estimate of $0.61. The company issued revenue guidance of $490-505 million, compared to the consensus revenue estimate of $564.96 million.Vera Bradley also updated its FY 2023 guidance to $0.35-$0.50 EPS.

Several equities research analysts recently commented on the company. StockNews.com assumed coverage on Vera Bradley in a research note on Thursday, March 31st. They issued a hold rating for the company. Telsey Advisory Group decreased their target price on Vera Bradley from $11.00 to $9.00 and set a market perform rating for the company in a research report on Thursday, March 10th. Finally, Zacks Investment Research raised Vera Bradley from a sell rating to a hold rating in a research report on Wednesday, May 11th. Four equities research analysts have rated the stock with a hold rating, According to data from MarketBeat.com, the stock has an average rating of Hold and a consensus target price of $11.67.

Shares of Vera Bradley stock opened at $6.27 on Wednesday. Vera Bradley has a 12-month low of $5.71 and a 12-month high of $13.62. The stock has a market capitalization of $203.40 million, a P/E ratio of 12.06 and a beta of 1.78. The stock has a 50 day moving average price of $6.59 and a two-hundred day moving average price of $7.69.

Vera Bradley (NASDAQ:VRAGet Rating) last posted its quarterly earnings data on Wednesday, March 9th. The textile maker reported $0.17 earnings per share for the quarter, missing the consensus estimate of $0.23 by ($0.06). Vera Bradley had a net margin of 3.30% and a return on equity of 6.10%. The business had revenue of $149.60 million during the quarter, compared to the consensus estimate of $155.43 million. During the same period in the prior year, the company posted $0.31 earnings per share. The firm’s revenue was up 5.1% compared to the same quarter last year. Analysts expect that Vera Bradley will post 0.61 EPS for the current year.

Several institutional investors and hedge funds have recently bought and sold shares of the company. American Century Companies Inc. acquired a new position in shares of Vera Bradley in the first quarter valued at $80,000. Engineers Gate Manager LP raised its stake in shares of Vera Bradley by 48.3% in the first quarter. Engineers Gate Manager LP now owns 18,369 shares of the textile maker’s stock valued at $141,000 after purchasing an additional 5,985 shares in the last quarter. Wells Fargo & Company MN raised its stake in shares of Vera Bradley by 133.0% in the second quarter. Wells Fargo & Company MN now owns 18,837 shares of the textile maker’s stock valued at $234,000 after purchasing an additional 10,752 shares in the last quarter. Citigroup Inc. raised its stake in shares of Vera Bradley by 45.1% in the fourth quarter. Citigroup Inc. now owns 19,057 shares of the textile maker’s stock valued at $162,000 after purchasing an additional 5,927 shares in the last quarter. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its stake in shares of Vera Bradley by 13.1% in the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 21,809 shares of the textile maker’s stock valued at $167,000 after purchasing an additional 2,524 shares in the last quarter. 70.79% of the stock is owned by institutional investors.

About Vera Bradley (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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