Lululemon Athletica (NASDAQ:LULU) issued an update on its FY 2019 earnings guidance on Wednesday morning. The company provided EPS guidance of $4.51-4.58 for the period, compared to the Thomson Reuters consensus EPS estimate of $4.64. The company issued revenue guidance of $3.73-3.77 billion, compared to the consensus revenue estimate of $3.77 billion.Lululemon Athletica also updated its Q2 2019 guidance to $0.86-0.88 EPS.
Shares of LULU traded down $0.74 during mid-day trading on Wednesday, reaching $170.89. 3,748,842 shares of the company’s stock traded hands, compared to its average volume of 2,151,594. The stock has a market cap of $22.53 billion, a PE ratio of 44.50, a price-to-earnings-growth ratio of 2.04 and a beta of 0.60. Lululemon Athletica has a 12 month low of $110.71 and a 12 month high of $179.49.
Lululemon Athletica (NASDAQ:LULU) last released its quarterly earnings results on Wednesday, March 27th. The apparel retailer reported $1.85 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.74 by $0.11. The company had revenue of $1.17 billion for the quarter, compared to analysts’ expectations of $1.15 billion. Lululemon Athletica had a return on equity of 35.49% and a net margin of 14.71%. The business’s revenue for the quarter was up 25.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.33 earnings per share. On average, equities analysts forecast that Lululemon Athletica will post 4.6 earnings per share for the current fiscal year.
Lululemon Athletica declared that its board has approved a share buyback plan on Wednesday, March 27th that authorizes the company to buyback $500.00 million in outstanding shares. This buyback authorization authorizes the apparel retailer to buy up to 2.6% of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s board of directors believes its shares are undervalued.
Several research analysts have issued reports on the stock. MKM Partners lifted their price target on shares of Lululemon Athletica from $179.00 to $189.00 and gave the stock a buy rating in a research report on Thursday, March 28th. UBS Group boosted their target price on shares of Lululemon Athletica from $176.00 to $182.00 and gave the stock a neutral rating in a research report on Thursday, April 25th. B. Riley boosted their target price on shares of Lululemon Athletica from $160.00 to $165.00 and gave the stock a neutral rating in a research report on Friday, May 17th. Morgan Stanley boosted their target price on shares of Lululemon Athletica from $141.00 to $150.00 and gave the stock an equal weight rating in a research report on Thursday, March 28th. Finally, Argus boosted their target price on shares of Lululemon Athletica to $195.00 and gave the stock a buy rating in a research report on Friday, March 29th. Eleven analysts have rated the stock with a hold rating, twenty-two have given a buy rating and one has given a strong buy rating to the company’s stock. The company has a consensus rating of Buy and an average price target of $177.70.
In other news, insider Michelle Sun Choe sold 6,170 shares of the company’s stock in a transaction that occurred on Thursday, April 4th. The shares were sold at an average price of $170.92, for a total transaction of $1,054,576.40. Following the transaction, the insider now directly owns 11,294 shares in the company, valued at $1,930,370.48. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Celeste Burgoyne sold 19,199 shares of the company’s stock in a transaction that occurred on Friday, March 29th. The stock was sold at an average price of $166.54, for a total transaction of $3,197,401.46. Following the transaction, the executive vice president now owns 18,019 shares in the company, valued at $3,000,884.26. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 519,344 shares of company stock worth $79,873,942. Company insiders own 0.32% of the company’s stock.
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Lululemon Athletica Company Profile
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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