Lululemon Athletica (NASDAQ:LULU) issued an update on its second quarter earnings guidance on Wednesday morning. The company provided earnings per share guidance of $0.86-0.88 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $0.88. The company issued revenue guidance of $825-835 million, compared to the consensus revenue estimate of $834.76 million.Lululemon Athletica also updated its FY 2019 guidance to $4.51-4.58 EPS.
NASDAQ:LULU traded down $0.74 on Wednesday, reaching $170.89. The company’s stock had a trading volume of 3,748,842 shares, compared to its average volume of 2,151,594. Lululemon Athletica has a 12-month low of $110.71 and a 12-month high of $179.49. The company has a market capitalization of $22.53 billion, a P/E ratio of 44.50, a P/E/G ratio of 2.04 and a beta of 0.60.
Lululemon Athletica (NASDAQ:LULU) last posted its earnings results on Wednesday, June 12th. The apparel retailer reported $0.74 EPS for the quarter, beating the Zacks’ consensus estimate of $0.70 by $0.04. Lululemon Athletica had a return on equity of 35.49% and a net margin of 14.71%. The company had revenue of $782.30 million for the quarter, compared to the consensus estimate of $755.92 million. During the same quarter in the previous year, the business earned $0.55 earnings per share. The company’s revenue for the quarter was up 20.4% on a year-over-year basis. Equities analysts expect that Lululemon Athletica will post 4.6 EPS for the current year.
Lululemon Athletica announced that its board has approved a share buyback plan on Wednesday, March 27th that allows the company to repurchase $500.00 million in outstanding shares. This repurchase authorization allows the apparel retailer to buy up to 2.6% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s leadership believes its shares are undervalued.
LULU has been the topic of a number of research analyst reports. Stifel Nicolaus lifted their target price on Lululemon Athletica from $152.00 to $187.00 and gave the company a buy rating in a research report on Thursday, March 28th. BidaskClub downgraded Lululemon Athletica from a hold rating to a sell rating in a report on Friday, March 15th. Nomura reiterated a neutral rating and issued a $157.00 price objective (up previously from $140.00) on shares of Lululemon Athletica in a report on Tuesday, February 19th. They noted that the move was a valuation call. Oppenheimer boosted their price objective on Lululemon Athletica from $190.00 to $225.00 and gave the company an outperform rating in a report on Wednesday, May 1st. Finally, Cowen boosted their price objective on Lululemon Athletica from $190.00 to $192.00 and gave the company an outperform rating in a report on Thursday, March 28th. Eleven analysts have rated the stock with a hold rating, twenty-two have assigned a buy rating and one has given a strong buy rating to the company. The company currently has an average rating of Buy and a consensus target price of $177.70.
In other Lululemon Athletica news, COO Stuart Haselden sold 49,319 shares of the company’s stock in a transaction dated Friday, March 29th. The stock was sold at an average price of $164.62, for a total transaction of $8,118,893.78. Following the sale, the chief operating officer now owns 24,685 shares in the company, valued at approximately $4,063,644.70. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Celeste Burgoyne sold 19,199 shares of the company’s stock in a transaction dated Friday, March 29th. The stock was sold at an average price of $166.54, for a total value of $3,197,401.46. Following the sale, the executive vice president now owns 18,019 shares in the company, valued at approximately $3,000,884.26. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 519,344 shares of company stock worth $79,873,942. 0.32% of the stock is owned by company insiders.
About Lululemon Athletica
lululemon athletica inc., together with its subsidiaries, designs, distributes, and retails athletic apparel and accessories for women, men, and female youth. It operates through two segments, Company-Operated Stores and Direct to Consumer. The company offers pants, shorts, tops, and jackets for healthy lifestyle and athletic activities, such as yoga, running, and training, as well as other sweaty pursuits; and athletic wear for female youth.
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