Lululemon (LULU) Updates FY14 Earnings Guidance
Lululemon (NASDAQ:LULU) updated its FY14 earnings guidance on Thursday. The company provided earnings per share (EPS) guidance of $1.94-1.97 for the period, compared to the Thomson Reuters consensus estimate of $1.99, AnalystRatings.Net reports. The company issued revenue guidance of $1.625-1.635 billion, compared to the consensus revenue estimate of $1.67 billion.Lululemon also updated its Q3 guidance to $0.39-0.41 EPS.
LULU has been the subject of a number of recent research reports. Analysts at Deutsche Bank initiated coverage on shares of Lululemon (NASDAQ:LULU) in a research note to investors on Wednesday. They set a hold rating and a $65.00 price target on the stock. On a related note, analysts at Citigroup Inc. initiated coverage on shares of Lululemon (NASDAQ:LULU) in a research note to investors on Monday. They set a buy rating and a $69.49 price target on the stock. Finally, analysts at Janney Montgomery Scott cut their price target on shares of Lululemon (NASDAQ:LULU) from $87.00 to $79.00 in a research note to investors on Monday. They now have a buy rating on the stock.
Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the stock. The company currently has an average rating of Hold and a consensus target price of $75.17.
Shares of Lululemon (NASDAQ:LULU) opened at 69.02 on Thursday. Lululemon has a 1-year low of $59.60 and a 1-year high of $82.50. The stock’s 50-day moving average is $70.84 and its 200-day moving average is $70.27. The company has a market cap of $9.977 billion and a P/E ratio of 37.31. Lululemon also was the recipient of unusually large options trading activity on Monday. Stock investors purchased 16,016 call options on the company. This is an increase of approximately 139% compared to the average volume of 6,691 call options.
Lululemon (NASDAQ:LULU) last issued its quarterly earnings data on Thursday, September 12th. The company reported $0.39 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.35 by $0.04. The company had revenue of $344.50 million for the quarter, compared to the consensus estimate of $342.70 million. During the same quarter in the prior year, the company posted $0.39 earnings per share. The company’s quarterly revenue was up 21.9% on a year-over-year basis. On average, analysts predict that Lululemon will post $1.99 earnings per share for the current fiscal year.
Manufactures, distributes and sells technical athletics and yoga apparel. The Company works in cooperation with various athletes to create designs specific to meet their needs.
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