Lululemon Athletica (NASDAQ:LULU) Releases FY 2022 Earnings Guidance

Lululemon Athletica (NASDAQ:LULUGet Rating) updated its FY 2022 earnings guidance on Thursday. The company provided EPS guidance of $9.35-$9.50 for the period, compared to the consensus EPS estimate of $9.28. The company issued revenue guidance of $7.61 billion-$7.71 billion, compared to the consensus revenue estimate of $7.54 billion. Lululemon Athletica also updated its Q2 2022 guidance to $1.82-$1.87 EPS.

NASDAQ LULU traded up $8.60 during trading on Thursday, hitting $286.48. 37,842 shares of the company traded hands, compared to its average volume of 1,689,200. Lululemon Athletica has a 12 month low of $251.51 and a 12 month high of $485.83. The business has a fifty day simple moving average of $314.77 and a 200 day simple moving average of $335.20. The company has a market capitalization of $36.57 billion, a P/E ratio of 35.31, a PEG ratio of 1.46 and a beta of 1.30.

Lululemon Athletica (NASDAQ:LULUGet Rating) last issued its quarterly earnings data on Thursday, June 2nd. The apparel retailer reported $1.48 earnings per share for the quarter, beating analysts’ consensus estimates of $1.43 by $0.05. Lululemon Athletica had a return on equity of 39.23% and a net margin of 15.36%. The business had revenue of $1.61 billion for the quarter, compared to the consensus estimate of $1.55 billion. During the same period last year, the business earned $1.16 EPS. The firm’s revenue was up 31.6% compared to the same quarter last year. On average, equities research analysts predict that Lululemon Athletica will post 9.47 EPS for the current fiscal year.

Lululemon Athletica declared that its Board of Directors has approved a share buyback plan on Tuesday, March 29th that authorizes the company to buyback $1.00 billion in shares. This buyback authorization authorizes the apparel retailer to reacquire up to 2.1% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s board believes its shares are undervalued.

A number of equities research analysts recently weighed in on the company. BMO Capital Markets decreased their target price on Lululemon Athletica from $344.00 to $304.00 in a research report on Friday, June 3rd. BTIG Research cut their target price on Lululemon Athletica from $491.00 to $420.00 and set a buy rating for the company in a research note on Friday, June 3rd. KGI Securities cut Lululemon Athletica from an outperform rating to a neutral rating in a research report on Monday, May 23rd. TheStreet raised shares of Lululemon Athletica from a c+ rating to a b rating in a research report on Monday, April 11th. Finally, Wedbush assumed coverage on Lululemon Athletica in a report on Thursday, April 28th. They set an outperform rating and a $430.00 price objective on the stock. Six research analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Lululemon Athletica presently has an average rating of Moderate Buy and an average price target of $423.88.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Echo Street Capital Management LLC grew its holdings in Lululemon Athletica by 49.2% during the 1st quarter. Echo Street Capital Management LLC now owns 1,368 shares of the apparel retailer’s stock worth $500,000 after acquiring an additional 451 shares during the period. KB Financial Partners LLC grew its stake in shares of Lululemon Athletica by 13.3% during the first quarter. KB Financial Partners LLC now owns 1,369 shares of the apparel retailer’s stock worth $500,000 after purchasing an additional 161 shares during the period. Wealthfront Advisers LLC acquired a new stake in shares of Lululemon Athletica during the first quarter worth $483,000. qPULA Trading Management LP lifted its stake in Lululemon Athletica by 62.5% in the first quarter. qPULA Trading Management LP now owns 1,300 shares of the apparel retailer’s stock valued at $475,000 after buying an additional 500 shares during the period. Finally, Delphia USA Inc. bought a new position in Lululemon Athletica during the first quarter worth about $474,000. Institutional investors and hedge funds own 85.48% of the company’s stock.

About Lululemon Athletica (Get Rating)

lululemon athletica inc., together with its subsidiaries, designs, distributes, and retails athletic apparel and accessories for women and men. It operates in 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.

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Earnings History and Estimates for Lululemon Athletica (NASDAQ:LULU)

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