Equities Analysts Set Expectations for Urban Outfitters, Inc.’s Q2 2023 Earnings (NASDAQ:URBN)

Urban Outfitters, Inc. (NASDAQ:URBN) – Equities researchers at William Blair lowered their Q2 2023 earnings per share (EPS) estimates for shares of Urban Outfitters in a research report issued on Tuesday, November 23rd. William Blair analyst D. Carden now expects that the apparel retailer will post earnings of $0.84 per share for the quarter, down from their prior forecast of $0.93. William Blair has a “Market Perform” rating on the stock. William Blair also issued estimates for Urban Outfitters’ Q3 2023 earnings at $0.81 EPS and FY2023 earnings at $2.74 EPS.

Several other research firms have also issued reports on URBN. Deutsche Bank Aktiengesellschaft upped their target price on shares of Urban Outfitters from $40.00 to $42.00 and gave the stock a “hold” rating in a research note on Wednesday, August 25th. JPMorgan Chase & Co. upped their target price on shares of Urban Outfitters from $38.00 to $39.00 and gave the stock a “neutral” rating in a research note on Monday, August 16th. Jefferies Financial Group initiated coverage on shares of Urban Outfitters in a research note on Wednesday, August 25th. They issued a “buy” rating and a $49.00 target price for the company. Morgan Stanley upped their target price on shares of Urban Outfitters from $41.00 to $43.00 and gave the stock an “overweight” rating in a research note on Tuesday. Finally, Zacks Investment Research downgraded shares of Urban Outfitters from a “strong-buy” rating to a “sell” rating and set a $33.00 price target on the stock. in a report on Tuesday, October 26th. One analyst has rated the stock with a sell rating, ten have given a hold rating and six have given a buy rating to the company. According to MarketBeat.com, Urban Outfitters has an average rating of “Hold” and a consensus target price of $39.82.

NASDAQ URBN opened at $33.04 on Thursday. Urban Outfitters has a 1 year low of $24.40 and a 1 year high of $42.10. The firm has a market cap of $3.25 billion, a price-to-earnings ratio of 11.43, a PEG ratio of 0.59 and a beta of 1.57. The company has a fifty day moving average price of $32.53 and a 200-day moving average price of $35.50.

Urban Outfitters (NASDAQ:URBN) last announced its quarterly earnings results on Monday, November 22nd. The apparel retailer reported $0.89 EPS for the quarter, beating the Zacks’ consensus estimate of $0.84 by $0.05. The business had revenue of $1.13 billion during the quarter, compared to analyst estimates of $1.12 billion. Urban Outfitters had a net margin of 6.91% and a return on equity of 18.77%. Urban Outfitters’s quarterly revenue was up 16.7% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.78 EPS.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in URBN. Thrivent Financial for Lutherans lifted its holdings in shares of Urban Outfitters by 1.5% in the first quarter. Thrivent Financial for Lutherans now owns 18,197 shares of the apparel retailer’s stock worth $677,000 after buying an additional 276 shares in the last quarter. State Board of Administration of Florida Retirement System lifted its holdings in shares of Urban Outfitters by 1.0% in the second quarter. State Board of Administration of Florida Retirement System now owns 28,979 shares of the apparel retailer’s stock worth $1,195,000 after buying an additional 298 shares in the last quarter. Deutsche Bank AG lifted its holdings in shares of Urban Outfitters by 0.7% in the second quarter. Deutsche Bank AG now owns 46,287 shares of the apparel retailer’s stock worth $1,909,000 after buying an additional 318 shares in the last quarter. Federated Hermes Inc. lifted its holdings in shares of Urban Outfitters by 0.7% in the second quarter. Federated Hermes Inc. now owns 58,444 shares of the apparel retailer’s stock worth $2,409,000 after buying an additional 398 shares in the last quarter. Finally, Meeder Asset Management Inc. lifted its holdings in shares of Urban Outfitters by 68.9% in the third quarter. Meeder Asset Management Inc. now owns 1,020 shares of the apparel retailer’s stock worth $31,000 after buying an additional 416 shares in the last quarter. 68.64% of the stock is currently owned by institutional investors and hedge funds.

In other Urban Outfitters news, CAO Azeez Hayne sold 1,100 shares of the company’s stock in a transaction dated Wednesday, November 3rd. The shares were sold at an average price of $35.00, for a total transaction of $38,500.00. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 27.50% of the stock is owned by corporate insiders.

About Urban Outfitters

Urban Outfitters, Inc engages in the operation of a general consumer product retail and wholesale business selling to customers through various channels including retail locations, websites, catalogs and mobile applications. It operates through the following segments: Retail, Wholesale and Subscription.

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

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