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

Vera Bradley (NASDAQ:VRAGet Rating) issued an update on its FY 2023 earnings guidance on Wednesday morning. 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 $490.00 million-$505.00 million, compared to the consensus revenue estimate of $564.96 million.

Shares of NASDAQ VRA traded up $0.04 during midday trading on Friday, reaching $4.38. 448,934 shares of the stock traded hands, compared to its average volume of 416,823. The stock has a market capitalization of $137.79 million, a PE ratio of 11.84 and a beta of 1.78. Vera Bradley has a one year low of $4.27 and a one year high of $12.35. The company’s 50 day moving average is $5.80 and its 200 day moving average is $7.12.

Vera Bradley (NASDAQ:VRAGet Rating) last posted its quarterly earnings results on Wednesday, June 8th. The textile maker reported ($0.19) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.16) by ($0.03). Vera Bradley had a return on equity of 4.74% and a net margin of 2.46%. The company had revenue of $98.50 million during the quarter, compared to analysts’ expectations of $109.87 million. During the same period in the prior year, the business posted ($0.05) EPS. The company’s quarterly revenue was down 9.7% on a year-over-year basis. On average, equities research analysts forecast that Vera Bradley will post 0.42 earnings per share for the current fiscal year.

Several research firms have issued reports on VRA. TheStreet downgraded Vera Bradley from a c rating to a d+ rating in a report on Tuesday, June 21st. StockNews.com cut shares of Vera Bradley from a buy rating to a hold rating in a research report on Friday, June 17th. Noble Financial assumed coverage on Vera Bradley in a research report on Thursday, June 16th. They issued an outperform rating and a $8.00 target price on the stock. Finally, Telsey Advisory Group decreased their target price on shares of Vera Bradley from $9.00 to $7.00 and set a market perform rating on the stock in a report on Thursday, June 9th. Three equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company. Based on data from MarketBeat.com, Vera Bradley currently has a consensus rating of Hold and an average price target of $9.00.

Several hedge funds have recently modified their holdings of the company. American Century Companies Inc. acquired a new stake in Vera Bradley during the 1st quarter worth approximately $80,000. Engineers Gate Manager LP grew its position in Vera Bradley by 48.3% in the 1st quarter. Engineers Gate Manager LP now owns 18,369 shares of the textile maker’s stock worth $141,000 after purchasing an additional 5,985 shares during the last quarter. Citigroup Inc. grew its position in Vera Bradley by 11.4% in the 1st quarter. Citigroup Inc. now owns 21,227 shares of the textile maker’s stock worth $163,000 after purchasing an additional 2,170 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its holdings 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 acquiring an additional 2,524 shares in the last quarter. Finally, XTX Topco Ltd acquired a new stake in Vera Bradley during the first quarter valued at approximately $293,000. 70.79% of the stock is owned by institutional investors and hedge funds.

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

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