Leigh Drogen is the Founder and CEO of Estimize. Estimize is an open financial estimates platform which facilitates the aggregation of fundamental estimates from independent, buy-side, and sell-side analysts, along with those of industry experts, private investors and students. By sourcing estimates from a diverse community of individuals, Estimize provides both a more accurate and more representative view of expectations compared to sell side only data.
Leigh started his career as a quant trader at Geller Capital, a White Plains, NY based fund where he ran strategies that looked at earnings acceleration and analyst estimate revision models, as well as price momentum and several sentiment indicators.
Leigh later went on to be the founder of Surfview Capital, a New York based asset management firm that used many of the same strategies as Geller Capital, with a focus on higher beta names on an intermediate term time frame.
His educational background includes focus in economics and international relations, specifically war theory. He is a graduate with honors from Hunter College in New York City.
You can contact Leigh by emailing him at Leigh@estimize.com
Is Urban Outfitters, Inc. (URBN) About to Turn the Corner on its PR nightmare?
Six months ago Urban Outfitters, Inc. (NASDAQ:URBN) missed the Estimize earnings consensus for the third quarter in a row. The retailer was marred by controversy after showing several highly distasteful products including a Kent State sweatshirt which appeared to be covered with a blood splatter.
Heading into last quarter’s earnings report contributors on Estimize expected Urban Outfitters to miss the Wall Street revenue consensus. It’s unusual for Estimize contributors to forecast sales below the Wall Street consensus but it does happen from time to time. Statistically speaking when the Estimize consensus is lower than Wall Street’s, Estimize tends to be the more accurate of the two at a higher rate than normal.
Urban Outfitters proved the crowd at Estimize wrong, putting its PR disasters behind it and reporting a pretty solid quarter. Earnings came in at 60 cents per share, a 2% increase year over year. Revenue clocked in at $1.01 billion marking a 12% gain.
Last quarter Urban Outfitters finally showed signs of life. Sales in the flagship stores improved 10.1% compared to one year prior. But the bulk of the company’s growth last year didn’t come from its flagship stores.
In the 12 month period ending January 31, Urban Outfitters stores only increased sales 1.2%. Meanwhile sales at the company’s other brands Anthropologie Group and Free People were up 8.1% and 27.5% respectively. Revenues from Anthropologie Group and Free People combined made up 57.6% of Urban Outfitters’s total sales last year.
Urban Outfitters stores may be turning the corner on their chain of PR mishaps. Even still investors’ expectations for the current quarter remain muted. Urban Outfitters will report first quarter earnings Monday, May 18 after the closing bell. Contributing analysts on Estimize expect a report that’s just in-line with Wall Street’s revenue consensus and only a penny better on the bottom line.