Vera Bradley (NASDAQ:VRA) Issues FY 2023 Earnings Guidance

Vera Bradley (NASDAQ:VRAGet Rating) updated its FY 2023 earnings guidance on Wednesday. The company provided EPS guidance of $0.20-$0.28 for the period, compared to the consensus EPS estimate of $0.41. The company issued revenue guidance of $480.00 million-$490.00 million, compared to the consensus revenue estimate of $497.56 million.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the stock. Noble Financial assumed coverage on shares of Vera Bradley in a research report on Thursday, June 16th. They issued an outperform rating and a $8.00 price target for the company. StockNews.com cut shares of Vera Bradley from a buy rating to a hold rating in a research report on Friday, June 17th. Cowen decreased their target price on shares of Vera Bradley to $4.50 in a research report on Tuesday, September 6th. Telsey Advisory Group decreased their target price on shares of Vera Bradley from $9.00 to $7.00 and set a market perform rating for the company in a research report on Thursday, June 9th. Finally, TheStreet cut shares of Vera Bradley from a c rating to a d+ rating in a research report on Tuesday, June 21st.

Vera Bradley Stock Down 2.9 %

Shares of NASDAQ:VRA traded down $0.09 during midday trading on Friday, reaching $3.06. The company’s stock had a trading volume of 12,739 shares, compared to its average volume of 408,885. The firm has a market capitalization of $95.17 million, a PE ratio of -3.75 and a beta of 1.79. Vera Bradley has a twelve month low of $3.02 and a twelve month high of $11.13. The stock has a fifty day moving average of $4.10 and a 200 day moving average of $5.49.

Vera Bradley (NASDAQ:VRAGet Rating) last released its quarterly earnings results on Wednesday, August 31st. The textile maker reported $0.08 EPS for the quarter, missing the consensus estimate of $0.13 by ($0.05). The firm had revenue of $130.40 million for the quarter, compared to analyst estimates of $132.51 million. Vera Bradley had a negative net margin of 5.03% and a positive return on equity of 2.64%. The firm’s quarterly revenue was down 11.3% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.28 EPS. Sell-side analysts anticipate that Vera Bradley will post 0.19 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Vera Bradley

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. UBS Group AG lifted its stake in shares of Vera Bradley by 23.3% in the second quarter. UBS Group AG now owns 76,375 shares of the textile maker’s stock worth $331,000 after buying an additional 14,429 shares in the last quarter. Guggenheim Capital LLC lifted its stake in shares of Vera Bradley by 42.3% in the first quarter. Guggenheim Capital LLC now owns 42,572 shares of the textile maker’s stock worth $326,000 after buying an additional 12,646 shares in the last quarter. XTX Topco Ltd purchased a new position in shares of Vera Bradley in the first quarter worth about $293,000. Sei Investments Co. lifted its stake in shares of Vera Bradley by 7.6% in the second quarter. Sei Investments Co. now owns 64,786 shares of the textile maker’s stock worth $280,000 after buying an additional 4,555 shares in the last quarter. Finally, Bank of Montreal Can purchased a new position in shares of Vera Bradley in the second quarter worth about $242,000. 64.77% of the stock is owned by hedge funds and other institutional investors.

About Vera Bradley

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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.

See Also

Earnings History and Estimates for Vera Bradley (NASDAQ:VRA)

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