Mizuho Securities Reiterates Neutral on Urban Outfitters (URBN) Following EPS 3Q Miss

November 23, 2016 7:49 AM EST
Get Alerts URBN Hot Sheet
Price: $33.64 +1.36%

Rating Summary:
    14 Buy, 30 Hold, 0 Sell

Rating Trend: Down Down

Today's Overall Ratings:
    Up: 17 | Down: 27 | New: 28
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Mizuho Securities reiterated a Neutral rating and $32.00 price target on Urban Outfitters, Inc. (NASDAQ: URBN) following the company's 3Q earnings report. URBN reported 3Q EPS of $0.40, compared to $0.42 LY. EPS was below consensus’ $0.44 estimate.

Analyst Betty Chen commented, "We are lowering our estimates to reflect a 3Q miss and ongoing pressure in 4Q and FY17. With high expectations into the print driven by hopes of a major silhouette change, we expect URBN to sell off on (1) deceleration at all 3 brands, (2) lack of visibility into Anthro’s turn as apparel weakens, and (3) reduced 2H gross margin. We believe 4Q QTD comps trend similar to 3Q despite easier compares, implying continued slowdown. With declining consensus estimates, we expect URBN to re-rate to 15x P/E (in-line with the group) and remain range bound."

For an analyst ratings summary and ratings history on Urban Outfitters, Inc. click here. For more ratings news on Urban Outfitters, Inc. click here.

Shares of Urban Outfitters, Inc. closed at $39.01 yesterday.



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