Lululemon Athletica inc. (NASDAQ:LULU) – Investment analysts at KeyCorp increased their Q2 2020 earnings estimates for shares of Lululemon Athletica in a research note issued to investors on Wednesday, June 12th. KeyCorp analyst E. Yruma now anticipates that the apparel retailer will post earnings per share of $0.87 for the quarter, up from their previous forecast of $0.86. KeyCorp also issued estimates for Lululemon Athletica’s FY2020 earnings at $4.58 EPS, Q1 2021 earnings at $0.88 EPS, Q2 2021 earnings at $1.04 EPS, Q3 2021 earnings at $1.02 EPS, Q4 2021 earnings at $2.49 EPS, FY2021 earnings at $5.43 EPS, FY2022 earnings at $6.30 EPS, FY2023 earnings at $7.22 EPS and FY2024 earnings at $8.22 EPS.
Several other equities research analysts have also commented on the stock. Macquarie raised shares of Lululemon Athletica from an “underperform” rating to a “neutral” rating in a report on Tuesday, May 7th. BidaskClub raised shares of Lululemon Athletica from a “sell” rating to a “hold” rating in a report on Tuesday, April 9th. Jefferies Financial Group lowered shares of Lululemon Athletica to a “hold” rating and boosted their price target for the stock from $156.00 to $175.00 in a report on Thursday. Credit Suisse Group boosted their price target on shares of Lululemon Athletica from $190.00 to $195.00 and gave the stock an “outperform” rating in a report on Thursday, April 25th. Finally, Bank of America boosted their price target on shares of Lululemon Athletica from $185.00 to $193.00 and gave the stock a “buy” rating in a report on Tuesday, April 23rd. Eleven research analysts have rated the stock with a hold rating, twenty-two have given a buy rating and one has assigned a strong buy rating to the company’s stock. Lululemon Athletica presently has a consensus rating of “Buy” and a consensus price target of $187.07.
Shares of NASDAQ LULU opened at $174.52 on Friday. The firm has a market capitalization of $22.38 billion, a P/E ratio of 45.45, a P/E/G ratio of 2.02 and a beta of 0.60. Lululemon Athletica has a one year low of $110.71 and a one year high of $182.89.
Lululemon Athletica (NASDAQ:LULU) last issued its quarterly earnings results on Wednesday, June 12th. The apparel retailer reported $0.74 EPS for the quarter, topping the consensus estimate of $0.70 by $0.04. The company had revenue of $782.30 million during the quarter, compared to analyst estimates of $755.92 million. Lululemon Athletica had a net margin of 14.77% and a return on equity of 38.60%. The firm’s revenue was up 20.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.55 EPS.
Lululemon Athletica announced that its Board of Directors has initiated a share buyback plan on Wednesday, March 27th that permits the company to repurchase $500.00 million in shares. This repurchase authorization permits the apparel retailer to buy up to 2.6% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s management believes its stock is undervalued.
In related news, insider Michelle Sun Choe sold 6,170 shares of the company’s stock in a transaction dated Thursday, April 4th. The shares were sold at an average price of $170.92, for a total value of $1,054,576.40. Following the completion of the sale, the insider now owns 11,294 shares of the company’s stock, valued at $1,930,370.48. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Stuart Haselden sold 49,319 shares of the company’s stock in a transaction dated 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 directly owns 24,685 shares of the company’s stock, valued at approximately $4,063,644.70. 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 ninety days. Insiders own 0.32% of the company’s stock.
Several institutional investors and hedge funds have recently made changes to their positions in the stock. Stormborn Capital Management LLC purchased a new stake in shares of Lululemon Athletica in the first quarter valued at about $4,097,000. Belpointe Asset Management LLC grew its holdings in shares of Lululemon Athletica by 18.5% in the first quarter. Belpointe Asset Management LLC now owns 1,825 shares of the apparel retailer’s stock valued at $299,000 after purchasing an additional 285 shares during the period. Meridian Wealth Management LLC purchased a new stake in shares of Lululemon Athletica in the first quarter valued at about $25,000. Ocean Capital Management LLC grew its holdings in shares of Lululemon Athletica by 153.9% in the first quarter. Ocean Capital Management LLC now owns 6,751 shares of the apparel retailer’s stock valued at $1,106,000 after purchasing an additional 4,092 shares during the period. Finally, Cerebellum GP LLC purchased a new stake in shares of Lululemon Athletica in the first quarter valued at about $323,000. 80.78% of the stock is owned by hedge funds and other institutional investors.
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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