Ulta Beauty (NASDAQ:ULTA) Updates FY 2024 Earnings Guidance

Ulta Beauty (NASDAQ:ULTA) updated its FY 2024 earnings guidance on Friday. The company provided earnings per share guidance of 22.600-23.500 for the period, compared to the consensus earnings per share estimate of 23.340. The company issued revenue guidance of $11.0 billion-$11.2 billion, compared to the consensus revenue estimate of $11.2 billion.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the stock. Loop Capital reduced their price target on shares of Ulta Beauty from $520.00 to $450.00 and set a “buy” rating on the stock in a research report on Tuesday, September 3rd. Wells Fargo & Company reduced their price target on shares of Ulta Beauty from $325.00 to $300.00 and set an “underweight” rating on the stock in a research report on Friday, August 30th. Deutsche Bank Aktiengesellschaft reduced their price target on shares of Ulta Beauty from $426.00 to $424.00 and set a “buy” rating on the stock in a research report on Wednesday, October 9th. Oppenheimer reiterated an “outperform” rating and issued a $435.00 price objective on shares of Ulta Beauty in a research report on Wednesday. Finally, Stifel Nicolaus lifted their price objective on shares of Ulta Beauty from $385.00 to $395.00 and gave the company a “hold” rating in a research report on Thursday. Two investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and twelve have given a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $423.71.

Ulta Beauty Price Performance

Shares of ULTA opened at $372.00 on Friday. The firm’s 50 day moving average is $372.98 and its 200-day moving average is $388.43. The stock has a market capitalization of $17.53 billion, a P/E ratio of 14.92, a P/E/G ratio of 2.12 and a beta of 1.32. Ulta Beauty has a 12-month low of $318.17 and a 12-month high of $574.76.

Ulta Beauty (NASDAQ:ULTA) last announced its quarterly earnings data on Thursday, August 29th. The specialty retailer reported $5.30 earnings per share (EPS) for the quarter, missing the consensus estimate of $5.47 by ($0.17). The business had revenue of $2.55 billion during the quarter, compared to analyst estimates of $2.61 billion. Ulta Beauty had a return on equity of 54.02% and a net margin of 10.68%. The business’s revenue for the quarter was up .9% on a year-over-year basis. During the same period in the prior year, the firm earned $6.02 EPS. As a group, equities research analysts forecast that Ulta Beauty will post 23.1 EPS for the current fiscal year.

Ulta Beauty Company Profile

Ulta Beauty, Inc operates as a specialty beauty retailer in the United States. The company offers branded and private label beauty products, including cosmetics, fragrance, haircare, skincare, bath and body products, professional hair products, and salon styling tools through its Ulta Beauty stores, shop-in-shops, Ulta.com website, and its mobile applications.