FBR Capital Maintains a 'Market Perform' on Urban Outfitters (URBN); Continues to Trend Negative
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Price: $76.42 -1.79%
Rating Summary:
15 Buy, 26 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 11 | Down: 18 | New: 20
Rating Summary:
15 Buy, 26 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 11 | Down: 18 | New: 20
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FBR Capital maintains a 'Market Perform' on Urban Outfitters, Inc. (NASDAQ: URBN), PT $28.
FBR analyst says, "Urban Outfitters announced last night that comps are running negative low single digits quarter to date through Easter weekend. This comp includes the online business. We estimate that the stores comp is trending down high single digits. Previously, the company said comps were running down low single digits through the end of March. We believe, however, that market expectations were for an improvement in April due to easier comparisons and the Easter shift. So, the fact that Urban Outfitters has seen no improvement is a negative surprise."
"Currently, the consensus estimate for 1Q11 is $0.27 versus our April 15
revision of $0.25. We are lowering our comp expectations to −2.1%. This had
only a modest impact on our 1Q model. However, we lowered our 2Q comp,
as well, to about flat. Our FY11 estimate goes from $1.65 to $1.62. Our FY12
estimate goes from $1.97 to $1.93."
For more ratings news on Urban Outfitters, Inc. click here and for the rating history of Urban Outfitters, Inc. click here.
Shares of Urban Outfitters, Inc. closed at $33.10 yesterday.
FBR analyst says, "Urban Outfitters announced last night that comps are running negative low single digits quarter to date through Easter weekend. This comp includes the online business. We estimate that the stores comp is trending down high single digits. Previously, the company said comps were running down low single digits through the end of March. We believe, however, that market expectations were for an improvement in April due to easier comparisons and the Easter shift. So, the fact that Urban Outfitters has seen no improvement is a negative surprise."
"Currently, the consensus estimate for 1Q11 is $0.27 versus our April 15
revision of $0.25. We are lowering our comp expectations to −2.1%. This had
only a modest impact on our 1Q model. However, we lowered our 2Q comp,
as well, to about flat. Our FY11 estimate goes from $1.65 to $1.62. Our FY12
estimate goes from $1.97 to $1.93."
For more ratings news on Urban Outfitters, Inc. click here and for the rating history of Urban Outfitters, Inc. click here.
Shares of Urban Outfitters, Inc. closed at $33.10 yesterday.
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