Lululemon Athletica (NASDAQ:LULU) issued an update on its second quarter earnings guidance on Wednesday morning. The company provided EPS guidance of $0.86-0.88 for the period, compared to the Thomson Reuters consensus EPS 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.
Shares of LULU traded down $0.74 during trading on Wednesday, reaching $170.89. 3,748,842 shares of the company traded hands, compared to its average volume of 2,151,594. Lululemon Athletica has a twelve month low of $110.71 and a twelve month high of $179.49. The stock has a market cap of $22.53 billion, a PE ratio of 44.50, a P/E/G ratio of 2.04 and a beta of 0.60.
Lululemon Athletica (NASDAQ:LULU) last announced its quarterly earnings results on Wednesday, June 12th. The apparel retailer reported $0.74 earnings per share for the quarter, beating analysts’ consensus estimates of $0.70 by $0.04. Lululemon Athletica had a net margin of 14.71% and a return on equity of 35.49%. The business had revenue of $782.30 million during the quarter, compared to analysts’ expectations of $755.92 million. During the same period last year, the business earned $0.55 earnings per share. The business’s revenue for the quarter was up 20.4% on a year-over-year basis. Equities analysts forecast that Lululemon Athletica will post 4.6 earnings per share for the current year.
Lululemon Athletica announced that its Board of Directors has authorized a share repurchase plan on Wednesday, March 27th that authorizes the company to buyback $500.00 million in shares. This buyback authorization authorizes the apparel retailer to repurchase up to 2.6% of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s board of directors believes its shares are undervalued.
LULU has been the subject of a number of research reports. Stifel Nicolaus lifted their price objective on shares of Lululemon Athletica from $152.00 to $187.00 and gave the company a buy rating in a report on Thursday, March 28th. MKM Partners lifted their price objective on shares of Lululemon Athletica from $179.00 to $189.00 and gave the company a buy rating in a report on Thursday, March 28th. Canaccord Genuity restated a buy rating and issued a $186.00 price objective (up previously from $163.00) on shares of Lululemon Athletica in a report on Thursday, March 28th. Argus lifted their price objective on shares of Lululemon Athletica to $195.00 and gave the company a buy rating in a report on Friday, March 29th. Finally, Bank of America lifted their price objective on shares of Lululemon Athletica from $185.00 to $193.00 and gave the company a buy rating in a report on Tuesday, April 23rd. 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’s stock. The company presently has a consensus rating of Buy and a consensus target price of $177.70.
In other news, COO Stuart Haselden sold 49,319 shares of the firm’s stock in a transaction that occurred on Friday, March 29th. The shares were sold at an average price of $164.62, for a total transaction of $8,118,893.78. Following the completion of the sale, the chief operating officer now owns 24,685 shares of the company’s stock, valued at $4,063,644.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Dennis J. Wilson sold 288,856 shares of the firm’s stock in a transaction that occurred on Thursday, March 28th. The stock was sold at an average price of $155.79, for a total transaction of $45,000,876.24. Following the sale, the director now directly owns 3,852 shares of the company’s stock, valued at approximately $600,103.08. The disclosure for this sale can be found here. Insiders have sold 519,344 shares of company stock valued at $79,873,942 in the last three months. Corporate insiders own 0.32% of the company’s stock.
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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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