Lululemon Athletica (NASDAQ:LULU) Releases Q3 Earnings Guidance

Lululemon Athletica (NASDAQ:LULU) updated its third quarter earnings guidance on Thursday. The company provided earnings per share (EPS) guidance of $2.68-$2.73 for the period, compared to the consensus estimate of $2.70. The company issued revenue guidance of $2.340-$2.365, compared to the consensus revenue estimate of $2.41 billion. Lululemon Athletica also updated its FY 2024 guidance to 13.950-14.150 EPS.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on LULU. BTIG Research started coverage on Lululemon Athletica in a research report on Wednesday, May 8th. They set a buy rating and a $425.00 target price on the stock. JPMorgan Chase & Co. reduced their target price on Lululemon Athletica from $457.00 to $338.00 and set an overweight rating on the stock in a report on Thursday, July 25th. Citigroup dropped their price target on Lululemon Athletica from $300.00 to $270.00 and set a neutral rating for the company in a research note on Thursday, August 22nd. Oppenheimer restated an outperform rating and set a $445.00 target price on shares of Lululemon Athletica in a report on Thursday, June 6th. Finally, UBS Group cut their price objective on Lululemon Athletica from $385.00 to $315.00 and set a neutral rating on the stock in a research report on Tuesday, August 20th. Two investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and twenty-one have given a buy rating to the company. According to MarketBeat, the stock has a consensus rating of Moderate Buy and an average target price of $372.58.

Lululemon Athletica Stock Down 0.9 %

LULU stock traded down $2.36 during trading hours on Friday, hitting $256.65. The company’s stock had a trading volume of 4,024,079 shares, compared to its average volume of 2,115,858. Lululemon Athletica has a 12 month low of $226.01 and a 12 month high of $516.39. The stock has a 50 day moving average price of $273.65 and a two-hundred day moving average price of $341.85. The company has a market capitalization of $32.08 billion, a PE ratio of 20.50, a price-to-earnings-growth ratio of 1.25 and a beta of 1.26.

Lululemon Athletica (NASDAQ:LULU) last posted its earnings results on Thursday, August 29th. The apparel retailer reported $3.15 earnings per share for the quarter, beating the consensus estimate of $2.92 by $0.23. The company had revenue of $2.40 billion for the quarter, compared to analyst estimates of $2.41 billion. Lululemon Athletica had a return on equity of 42.64% and a net margin of 16.09%. The business’s revenue was up 9.1% compared to the same quarter last year. During the same period last year, the company earned $2.68 earnings per share. Sell-side analysts expect that Lululemon Athletica will post 14.22 earnings per share for the current year.

Lululemon Athletica announced that its Board of Directors has authorized a share repurchase plan on Wednesday, June 5th that authorizes the company to repurchase $1.00 billion in shares. This repurchase authorization authorizes the apparel retailer to purchase up to 2.5% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s board of directors believes its shares are undervalued.

About Lululemon Athletica

Lululemon Athletica Inc, together with its subsidiaries, designs, distributes, and retails athletic apparel, footwear, and accessories under the lululemon brand for women and men. It offers pants, shorts, tops, and jackets for healthy lifestyle, such as yoga, running, training, and other activities. It also provides fitness-inspired accessories.