Lululemon Athletica (NASDAQ:LULU) Updates Q2 2019 Earnings Guidance

Lululemon Athletica (NASDAQ:LULU) updated its second quarter 2019 earnings guidance on Wednesday. The company provided earnings per share guidance of $0.86-0.88 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $0.88. The company issued revenue guidance of $825-835 million, compared to the consensus revenue estimate of $834.4 million.Lululemon Athletica also updated its FY 2019 guidance to $4.51-4.58 EPS.

A number of equities analysts have commented on the stock. Credit Suisse Group boosted their price target on shares of Lululemon Athletica from $172.00 to $190.00 and gave the stock an outperform rating in a research note on Thursday, March 28th. Cowen boosted their price target on shares of Lululemon Athletica from $190.00 to $192.00 and gave the stock an outperform rating in a research note on Thursday, March 28th. Zacks Investment Research raised shares of Lululemon Athletica from a hold rating to a strong-buy rating and set a $193.00 price target for the company in a research note on Monday, April 1st. Stifel Nicolaus boosted their price objective on shares of Lululemon Athletica from $152.00 to $187.00 and gave the stock a buy rating in a report on Thursday, March 28th. Finally, Wells Fargo & Co boosted their price objective on shares of Lululemon Athletica from $190.00 to $200.00 and gave the stock an outperform rating in a report on Thursday, April 25th. Eleven investment analysts have rated the stock with a hold rating, twenty-two have issued a buy rating and one has given a strong buy rating to the company. Lululemon Athletica currently has a consensus rating of Buy and a consensus target price of $177.70.

NASDAQ:LULU traded down $0.74 during midday trading on Wednesday, reaching $170.89. 3,748,842 shares of the stock traded hands, compared to its average volume of 2,151,594. Lululemon Athletica has a 12 month low of $110.71 and a 12 month high of $179.49. The firm has a market capitalization of $22.53 billion, a P/E ratio of 44.50, a P/E/G ratio of 2.04 and a beta of 0.60.

Lululemon Athletica (NASDAQ:LULU) last posted its quarterly earnings results on Wednesday, March 27th. The apparel retailer reported $1.85 EPS for the quarter, beating the Zacks’ consensus estimate of $1.74 by $0.11. Lululemon Athletica had a net margin of 14.71% and a return on equity of 35.49%. The company had revenue of $1.17 billion during the quarter, compared to analyst estimates of $1.15 billion. During the same period in the prior year, the business posted $1.33 EPS. The firm’s revenue was up 25.6% compared to the same quarter last year. Research analysts predict that Lululemon Athletica will post 4.6 EPS for the current fiscal year.

Lululemon Athletica announced that its board has approved a share buyback plan on Wednesday, March 27th that permits the company to buyback $500.00 million in shares. This buyback authorization permits the apparel retailer to repurchase up to 2.6% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s leadership believes its stock is undervalued.

In other Lululemon Athletica news, Director Dennis J. Wilson sold 155,800 shares of the company’s stock in a transaction on Tuesday, March 26th. The shares were sold at an average price of $144.43, for a total value of $22,502,194.00. Following the completion of the transaction, the director now directly owns 3,852 shares in the company, valued at approximately $556,344.36. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Stuart Haselden sold 49,319 shares of the company’s stock in a transaction on Friday, March 29th. The stock was sold at an average price of $164.62, for a total transaction of $8,118,893.78. Following the completion of the transaction, the chief operating officer now owns 24,685 shares of the company’s stock, valued at $4,063,644.70. The disclosure for this sale can be found here. Insiders sold a total of 519,344 shares of company stock valued at $79,873,942 over the last 90 days. 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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Earnings History and Estimates for Lululemon Athletica (NASDAQ:LULU)

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