Maxim Group Remains Below the Street on Urban Outfitters (URBN) Into Q2 Print

Maxim Group analyst Rick Snyder reiterated a Hold rating and $30 price target on Urban Outfitters, Inc. (NASDAQ: URBN) into second quarter results after the close. The firm is keeping estimates below the Street and expects the Street's to come down to theirs.

The firm's Q2 EPS estimate of $0.47 compares with the consensus of $0.49 and $0.42 in Q2 of last year. Their annual number of $1.80 is also below the street's $1.95. "We believe the street is too aggressive on comp and gross margin assumptions and will eventually come down to our numbers," Snyder said.

The analyst also said difficult compares at Anthropologie and lack of improvement at the namesake division make improvement in comps and/or gross margin difficult. They also said that promotional activity has picked up in the Anthropologie division in recent weeks.

Snyder added a lower Q2 tax rate or share repurchases under company's recently authorized 10 million share repurchase could help Urban Outfitters make the quarter but they would encourage investors to simply "smile and grin" at the changes as, they don't think these will influence Urban Outfitters share price.

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 $36.05 yesterday.

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