Lululemon Athletica (NASDAQ:LULU) issued an update on its FY20 earnings guidance on Wednesday morning. The company provided earnings per share guidance of $4.51-4.58 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $4.62. 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 FY 2019 guidance to $4.51-4.58 EPS.
Shares of Lululemon Athletica stock traded down $0.74 on Wednesday, reaching $170.89. 3,748,842 shares of the company were exchanged, compared to its average volume of 2,151,594. The stock has a market capitalization of $22.53 billion, a price-to-earnings ratio of 44.50, a PEG ratio of 2.04 and a beta of 0.60. Lululemon Athletica has a 1-year low of $110.71 and a 1-year high of $179.49.
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, topping analysts’ consensus estimates of $0.70 by $0.04. The business had revenue of $782.30 million for the quarter, compared to analysts’ expectations of $755.92 million. Lululemon Athletica had a return on equity of 35.49% and a net margin of 14.71%. The business’s quarterly revenue was up 20.4% on a year-over-year basis. During the same period in the prior year, the firm earned $0.55 EPS. As a group, research analysts forecast that Lululemon Athletica will post 4.6 EPS for the current year.
Lululemon Athletica announced that its Board of Directors has authorized a share repurchase program on Wednesday, March 27th that authorizes the company to buyback $500.00 million in outstanding shares. This buyback authorization authorizes the apparel retailer to purchase up to 2.6% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s management believes its shares are undervalued.
LULU has been the topic of a number of research reports. Macquarie upgraded Lululemon Athletica from an underperform rating to a neutral rating in a research report on Tuesday, May 7th. BidaskClub raised shares of Lululemon Athletica from a sell rating to a hold rating in a research report on Tuesday, April 9th. Credit Suisse Group increased their price target on shares of Lululemon Athletica from $190.00 to $195.00 and gave the company an outperform rating in a research note on Thursday, April 25th. Bank of America increased their price target on shares of Lululemon Athletica from $185.00 to $193.00 and gave the company a buy rating in a research note on Tuesday, April 23rd. Finally, Oppenheimer increased their price target on shares of Lululemon Athletica from $190.00 to $225.00 and gave the company an outperform rating in a research note on Wednesday, May 1st. Eleven research 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 stock currently has a consensus rating of Buy and a consensus target price of $177.70.
In related news, Director Dennis J. Wilson sold 155,800 shares of Lululemon Athletica stock in a transaction that occurred on Tuesday, March 26th. The shares were sold at an average price of $144.43, for a total transaction of $22,502,194.00. Following the sale, the director now directly owns 3,852 shares in the company, valued at approximately $556,344.36. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Michelle Sun Choe sold 6,170 shares of Lululemon Athletica stock in a transaction that occurred on Thursday, April 4th. The stock was sold at an average price of $170.92, for a total transaction of $1,054,576.40. Following the sale, the insider now owns 11,294 shares in the company, valued at $1,930,370.48. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 519,344 shares of company stock worth $79,873,942. 0.32% of the stock is owned by corporate insiders.
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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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