Lululemon Athletica (NASDAQ:LULU) Issues Q2 Earnings Guidance

Lululemon Athletica (NASDAQ:LULUGet Free Report) issued an update on its second quarter earnings guidance on Wednesday morning. The company provided EPS guidance of $2.92-2.97 for the period, compared to the consensus EPS estimate of $3.03. The company issued revenue guidance of $2.40-2.42 billion, compared to the consensus revenue estimate of $2.45 billion. Lululemon Athletica also updated its FY 2024 guidance to 14.270-14.470 EPS.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on LULU. Stifel Nicolaus boosted their target price on Lululemon Athletica from $410.00 to $416.00 and gave the stock a buy rating in a research report on Thursday. KeyCorp dropped their price target on Lululemon Athletica from $570.00 to $515.00 and set an overweight rating on the stock in a research report on Friday, March 22nd. The Goldman Sachs Group lowered their target price on Lululemon Athletica from $521.00 to $463.00 and set a buy rating on the stock in a research note on Friday, May 24th. Citigroup lowered their target price on Lululemon Athletica from $500.00 to $415.00 and set a buy rating on the stock in a research note on Wednesday, May 29th. Finally, Wedbush boosted their target price on Lululemon Athletica from $397.00 to $400.00 and gave the company an outperform rating in a research note on Thursday. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and twenty-five have issued a buy rating to the stock. Based on data from MarketBeat.com, Lululemon Athletica presently has a consensus rating of Moderate Buy and a consensus target price of $437.74.

View Our Latest Research Report on Lululemon Athletica

Lululemon Athletica Stock Performance

Shares of LULU opened at $317.86 on Friday. The firm’s 50-day simple moving average is $340.49 and its two-hundred day simple moving average is $422.87. Lululemon Athletica has a fifty-two week low of $293.03 and a fifty-two week high of $516.39. The stock has a market cap of $40.05 billion, a PE ratio of 25.49, a price-to-earnings-growth ratio of 1.52 and a beta of 1.27.

Lululemon Athletica (NASDAQ:LULUGet Free Report) last released its quarterly earnings results on Wednesday, June 5th. The apparel retailer reported $2.54 earnings per share for the quarter, topping the consensus estimate of $2.38 by $0.16. The business had revenue of $2.21 billion for the quarter, compared to the consensus estimate of $2.20 billion. Lululemon Athletica had a net margin of 16.09% and a return on equity of 42.64%. The company’s quarterly revenue was up 10.4% on a year-over-year basis. During the same period last year, the firm earned $2.28 earnings per share. Equities research analysts predict that Lululemon Athletica will post 14.21 EPS for the current year.

Insider Activity at Lululemon Athletica

In related news, Director Martha A. M. Morfitt acquired 700 shares of the stock in a transaction on Tuesday, March 26th. The stock was bought at an average cost of $389.29 per share, with a total value of $272,503.00. Following the transaction, the director now directly owns 500 shares in the company, valued at $194,645. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.48% of the stock is currently owned by insiders.

About Lululemon Athletica

(Get Free Report)

Lululemon Athletica Inc, together with its subsidiaries, designs, distributes, and retails athletic apparel, footwear, and accessories under the lululemon brand for women and men. It offers pants, shorts, tops, and jackets for healthy lifestyle, such as yoga, running, training, and other activities. It also provides fitness-inspired accessories.

Featured Articles

Earnings History and Estimates for Lululemon Athletica (NASDAQ:LULU)

Receive News & Ratings for Lululemon Athletica Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Lululemon Athletica and related companies with MarketBeat.com's FREE daily email newsletter.