Vera Bradley (NASDAQ:VRA) Updates Q3 2020 Earnings Guidance

Vera Bradley (NASDAQ:VRA) updated its third quarter 2020 earnings guidance on Wednesday. The company provided earnings per share guidance of $0.16-0.20 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $0.19. The company issued revenue guidance of $122-129 million.Vera Bradley also updated its FY 2020 guidance to $0.86-0.93 EPS.

A number of brokerages have recently issued reports on VRA. Telsey Advisory Group cut their price objective on shares of Vera Bradley from $13.00 to $10.00 and set a market perform rating for the company in a research note on Thursday. ValuEngine cut shares of Vera Bradley from a hold rating to a sell rating in a research note on Thursday. Zacks Investment Research reaffirmed a buy rating and issued a $12.00 price objective on shares of Vera Bradley in a research note on Saturday, June 15th. Finally, BidaskClub raised shares of Vera Bradley from a sell rating to a hold rating in a research note on Saturday, August 31st. One analyst has rated the stock with a sell rating, two have assigned a hold rating and one has assigned a buy rating to the company. Vera Bradley currently has an average rating of Hold and an average target price of $11.00.

VRA traded up $0.13 during trading on Thursday, hitting $8.69. 7,077 shares of the stock traded hands, compared to its average volume of 264,296. The firm has a market capitalization of $362.67 million, a P/E ratio of 14.61 and a beta of 0.86. The company has a debt-to-equity ratio of 0.41, a current ratio of 4.15 and a quick ratio of 2.53. The firm has a 50-day moving average of $10.76 and a 200 day moving average of $11.41. Vera Bradley has a 12-month low of $7.94 and a 12-month high of $17.38.

Vera Bradley (NASDAQ:VRA) last announced its quarterly earnings results on Wednesday, September 4th. The textile maker reported $0.25 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.27 by ($0.02). The firm had revenue of $119.79 million for the quarter, compared to analysts’ expectations of $117.35 million. Vera Bradley had a net margin of 4.69% and a return on equity of 6.76%. The company’s quarterly revenue was up 5.4% on a year-over-year basis. During the same period in the previous year, the company earned $0.26 EPS. As a group, equities analysts predict that Vera Bradley will post 0.7 EPS for the current fiscal year.

In other news, CTO Bradley Baekgaard Fami Barbara sold 16,674 shares of the firm’s stock in a transaction dated Wednesday, July 24th. The shares were sold at an average price of $24.56, for a total value of $409,513.44. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Anne Marie Ray sold 70,000 shares of the firm’s stock in a transaction dated Thursday, June 13th. The stock was sold at an average price of $11.57, for a total transaction of $809,900.00. The disclosure for this sale can be found here. Insiders have sold a total of 279,731 shares of company stock valued at $3,348,955 in the last three months. 27.30% of the stock is currently owned by corporate insiders.

Vera Bradley Company Profile

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 two segments, Direct and Indirect. The company offers totes, crossbodies, satchels, clutches, backpacks, baby bags, and lunch bags; accessories, including wallets, wristlets, eyeglass cases, scarves, and various technology accessories; and travel products, such as rolling luggage, cosmetics, and travel and packing accessories, as well as travel bags comprising duffel and weekend bags.

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