Vera Bradley (NASDAQ:VRA) Announces Earnings Results

Vera Bradley (NASDAQ:VRAGet Rating) announced its quarterly earnings results on Wednesday. The textile maker reported ($0.19) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.16) by ($0.03), Briefing.com reports. The company had revenue of $98.50 million during the quarter, compared to the consensus estimate of $109.87 million. Vera Bradley had a net margin of 2.46% and a return on equity of 4.74%. The business’s revenue was down 9.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.05) earnings per share. Vera Bradley updated its FY23 guidance to $0.35-0.50 EPS and its FY 2023 guidance to $0.35-$0.50 EPS.

NASDAQ:VRA opened at $5.77 on Friday. Vera Bradley has a one year low of $5.56 and a one year high of $12.90. The firm has a market cap of $187.18 million, a P/E ratio of 15.59 and a beta of 1.78. The firm has a 50-day simple moving average of $6.51 and a 200-day simple moving average of $7.64.

Large investors have recently bought and sold shares of the company. Squarepoint Ops LLC raised its holdings in shares of Vera Bradley by 49.4% in the 4th quarter. Squarepoint Ops LLC now owns 44,819 shares of the textile maker’s stock valued at $381,000 after purchasing an additional 14,814 shares in the last quarter. Bank of America Corp DE raised its stake in shares of Vera Bradley by 12.2% during the 4th quarter. Bank of America Corp DE now owns 38,461 shares of the textile maker’s stock worth $328,000 after acquiring an additional 4,183 shares in the last quarter. Guggenheim Capital LLC raised its stake in shares of Vera Bradley by 42.3% during the 1st quarter. Guggenheim Capital LLC now owns 42,572 shares of the textile maker’s stock worth $326,000 after acquiring an additional 12,646 shares in the last quarter. XTX Topco Ltd bought a new position in shares of Vera Bradley during the 1st quarter worth approximately $293,000. Finally, Public Employees Retirement System of Ohio bought a new position in shares of Vera Bradley during the 4th quarter worth approximately $260,000. Institutional investors and hedge funds own 70.79% of the company’s stock.

A number of equities analysts have commented on the stock. Zacks Investment Research raised shares of Vera Bradley from a “sell” rating to a “hold” rating in a research note on Wednesday, May 11th. Telsey Advisory Group dropped their price objective on shares of Vera Bradley from $9.00 to $7.00 and set a “market perform” rating for the company in a research note on Thursday. Finally, StockNews.com raised shares of Vera Bradley from a “hold” rating to a “buy” rating in a research note on Thursday. Three research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $11.00.

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.

Further Reading

Earnings History for Vera Bradley (NASDAQ:VRA)

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