Lululemon Athletica inc. (NASDAQ:LULU) – Equities research analysts at William Blair upped their Q2 2020 earnings per share estimates for shares of Lululemon Athletica in a research report issued to clients and investors on Wednesday, June 12th. William Blair analyst S. Zackfia now anticipates that the apparel retailer will post earnings of $0.87 per share for the quarter, up from their previous forecast of $0.84. William Blair also issued estimates for Lululemon Athletica’s Q3 2020 earnings at $0.86 EPS, Q4 2020 earnings at $2.19 EPS and FY2020 earnings at $4.66 EPS.
Lululemon Athletica (NASDAQ:LULU) last posted its quarterly earnings data on Wednesday, June 12th. The apparel retailer reported $0.74 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.70 by $0.04. Lululemon Athletica had a return on equity of 38.60% and a net margin of 14.77%. The company had revenue of $782.30 million for the quarter, compared to the consensus estimate of $755.92 million. During the same period in the previous year, the business earned $0.55 EPS. Lululemon Athletica’s revenue for the quarter was up 20.4% compared to the same quarter last year.
Several other equities research analysts also recently issued reports on LULU. Nomura restated a “neutral” rating and set a $157.00 price objective (up from $140.00) on shares of Lululemon Athletica in a report on Tuesday, February 19th. They noted that the move was a valuation call. BidaskClub downgraded Lululemon Athletica from a “hold” rating to a “sell” rating in a report on Friday, March 15th. Wedbush downgraded Lululemon Athletica from an “outperform” rating to a “neutral” rating and lowered their price target for the company from $176.00 to $155.00 in a report on Friday, March 22nd. Credit Suisse Group boosted their price target on Lululemon Athletica from $172.00 to $190.00 and gave the company an “outperform” rating in a report on Thursday, March 28th. Finally, DA Davidson boosted their price target on Lululemon Athletica from $146.00 to $155.00 and gave the company a “neutral” rating in a report on Thursday, March 28th. Eleven research 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’s stock. The company has an average rating of “Buy” and an average price target of $187.07.
LULU stock opened at $174.52 on Friday. Lululemon Athletica has a 52-week low of $110.71 and a 52-week high of $182.89. The company has a market cap of $22.38 billion, a price-to-earnings ratio of 45.45, a price-to-earnings-growth ratio of 2.02 and a beta of 0.60.
A number of institutional investors and hedge funds have recently modified their holdings of LULU. Oregon Public Employees Retirement Fund grew its stake in Lululemon Athletica by 11,283.2% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 4,059,463 shares of the apparel retailer’s stock worth $33,000 after buying an additional 4,023,801 shares during the last quarter. Jennison Associates LLC grew its stake in Lululemon Athletica by 144.2% during the 1st quarter. Jennison Associates LLC now owns 6,321,172 shares of the apparel retailer’s stock worth $1,035,850,000 after buying an additional 3,732,291 shares during the last quarter. Norges Bank bought a new position in Lululemon Athletica during the 4th quarter worth $161,284,000. Vanguard Group Inc grew its stake in Lululemon Athletica by 10.6% during the 3rd quarter. Vanguard Group Inc now owns 9,411,318 shares of the apparel retailer’s stock worth $1,529,244,000 after buying an additional 899,080 shares during the last quarter. Finally, Renaissance Technologies LLC bought a new position in Lululemon Athletica during the 1st quarter worth $107,056,000. Hedge funds and other institutional investors own 80.78% of the company’s stock.
In related news, insider Michelle Sun Choe sold 6,170 shares of the company’s stock in a transaction 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 completion of the transaction, the insider now directly owns 11,294 shares in the company, valued at approximately $1,930,370.48. The sale was disclosed in a document filed with the SEC, which is available through this link. 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 value of $8,118,893.78. Following 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. Over the last 90 days, insiders have sold 519,344 shares of company stock valued at $79,873,942. 0.32% of the stock is owned by company insiders.
Lululemon Athletica declared that its Board of Directors has approved a share buyback program 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 programs are generally an indication that the company’s board of directors believes its shares are undervalued.
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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