Lululemon Athletica (NASDAQ:LULU) Releases FY 2022 Earnings Guidance

Lululemon Athletica (NASDAQ:LULU – Get Rating) updated its FY 2022 earnings guidance on Thursday. The company provided earnings per share (EPS) guidance of $9.35-$9.50 for the period, compared to the consensus estimate of $9.28. The company issued revenue guidance of $7.61 billion-$7.71 billion, compared to the consensus revenue estimate of $7.54 billion. Lululemon Athletica also updated its Q2 2022 guidance to $1.82-$1.87 EPS.

Several brokerages have recently issued reports on LULU. MKM Partners increased their price target on shares of Lululemon Athletica from $438.00 to $447.00 in a research report on Wednesday, March 30th. BMO Capital Markets reduced their target price on shares of Lululemon Athletica from $344.00 to $304.00 in a report on Friday, June 3rd. Credit Suisse Group reduced their target price on shares of Lululemon Athletica from $450.00 to $410.00 and set an outperform rating on the stock in a report on Friday, June 3rd. KGI Securities cut shares of Lululemon Athletica from an outperform rating to a neutral rating in a report on Monday, May 23rd. Finally, BTIG Research reduced their target price on shares of Lululemon Athletica from $491.00 to $420.00 and set a buy rating on the stock in a report on Friday, June 3rd. Six investment analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of Moderate Buy and a consensus price target of $423.88.

Shares of LULU opened at $277.88 on Thursday. The business’s 50 day moving average is $314.77 and its two-hundred day moving average is $335.20. Lululemon Athletica has a 52-week low of $251.51 and a 52-week high of $485.83. The firm has a market cap of $35.47 billion, a price-to-earnings ratio of 35.31, a PEG ratio of 1.46 and a beta of 1.30.

Lululemon Athletica (NASDAQ:LULU – Get Rating) last posted its quarterly earnings results on Thursday, June 2nd. The apparel retailer reported $1.48 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.43 by $0.05. The business had revenue of $1.61 billion for the quarter, compared to analyst estimates of $1.55 billion. Lululemon Athletica had a return on equity of 39.23% and a net margin of 15.36%. The business’s revenue was up 31.6% compared to the same quarter last year. During the same period in the prior year, the company posted $1.16 EPS. On average, analysts anticipate that Lululemon Athletica will post 9.47 earnings per share for the current year.

Lululemon Athletica declared that its Board of Directors has approved a share buyback program on Tuesday, March 29th that authorizes the company to buyback $1.00 billion in shares. This buyback authorization authorizes the apparel retailer to repurchase up to 2.1% 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.

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Global Wealth Management Investment Advisory Inc. grew its stake in shares of Lululemon Athletica by 60.2% in the first quarter. Global Wealth Management Investment Advisory Inc. now owns 197 shares of the apparel retailer’s stock worth $72,000 after purchasing an additional 74 shares in the last quarter. Brown Brothers Harriman & Co. boosted its stake in Lululemon Athletica by 161.5% during the first quarter. Brown Brothers Harriman & Co. now owns 442 shares of the apparel retailer’s stock valued at $161,000 after buying an additional 273 shares in the last quarter. Forum Financial Management LP boosted its stake in Lululemon Athletica by 33.7% during the first quarter. Forum Financial Management LP now owns 765 shares of the apparel retailer’s stock valued at $279,000 after buying an additional 193 shares in the last quarter. Centaurus Financial Inc. boosted its stake in Lululemon Athletica by 103.5% during the first quarter. Centaurus Financial Inc. now owns 883 shares of the apparel retailer’s stock valued at $322,000 after buying an additional 449 shares in the last quarter. Finally, Fund Management at Engine No. 1 LLC bought a new position in Lululemon Athletica during the first quarter valued at about $363,000. Hedge funds and other institutional investors own 85.48% of the company’s stock.

Lululemon Athletica Company Profile (Get Rating)

lululemon athletica inc., together with its subsidiaries, designs, distributes, and retails athletic apparel and accessories for women and men. It operates in 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.

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