Lululemon Athletica inc. Forecasted to Post FY2018 Earnings of $2.51 Per Share (LULU)
Lululemon Athletica inc. (NASDAQ:LULU) – B. Riley lifted their FY2018 earnings per share (EPS) estimates for shares of Lululemon Athletica in a note issued to investors on Tuesday. B. Riley analyst S. Anderson now anticipates that the apparel retailer will post earnings of $2.51 per share for the year, up from their previous forecast of $2.47. B. Riley currently has a “Hold” rating and a $70.00 target price on the stock. B. Riley also issued estimates for Lululemon Athletica’s Q4 2018 earnings at $1.25 EPS, Q1 2019 earnings at $0.36 EPS, Q2 2019 earnings at $0.42 EPS, Q3 2019 earnings at $0.62 EPS, Q4 2019 earnings at $1.48 EPS and FY2019 earnings at $2.87 EPS.
Lululemon Athletica (NASDAQ:LULU) last posted its quarterly earnings data on Wednesday, December 6th. The apparel retailer reported $0.56 EPS for the quarter, topping the Zacks’ consensus estimate of $0.52 by $0.04. Lululemon Athletica had a net margin of 10.96% and a return on equity of 22.52%. The company had revenue of $619.00 million during the quarter, compared to the consensus estimate of $610.56 million. During the same period in the prior year, the business posted $0.50 EPS. The company’s quarterly revenue was up 13.7% on a year-over-year basis.
Lululemon Athletica (LULU) traded up $0.47 during trading on Wednesday, hitting $79.51. 1,482,000 shares of the stock were exchanged, compared to its average volume of 2,001,317. Lululemon Athletica has a one year low of $47.26 and a one year high of $81.92. The firm has a market cap of $10,680.00, a P/E ratio of 39.56, a price-to-earnings-growth ratio of 2.51 and a beta of 0.19.
Lululemon Athletica declared that its board has authorized a stock buyback plan on Wednesday, December 6th that authorizes the company to repurchase $200.00 million in outstanding shares. This repurchase authorization authorizes the apparel retailer to repurchase shares of its stock through open market purchases. Shares repurchase plans are generally an indication that the company’s leadership believes its shares are undervalued.
A number of institutional investors have recently added to or reduced their stakes in LULU. IHT Wealth Management LLC raised its holdings in Lululemon Athletica by 591.0% in the 2nd quarter. IHT Wealth Management LLC now owns 1,382 shares of the apparel retailer’s stock valued at $105,000 after acquiring an additional 1,182 shares during the period. Zions Bancorporation raised its holdings in Lululemon Athletica by 183.2% in the 3rd quarter. Zions Bancorporation now owns 2,096 shares of the apparel retailer’s stock valued at $130,000 after acquiring an additional 1,356 shares during the period. Thompson Siegel & Walmsley LLC bought a new position in Lululemon Athletica in the 3rd quarter valued at about $156,000. Oakbrook Investments LLC bought a new position in Lululemon Athletica in the 3rd quarter valued at about $202,000. Finally, Mackenzie Financial Corp bought a new position in Lululemon Athletica in the 3rd quarter valued at about $232,000. 79.31% of the stock is currently owned by hedge funds and other institutional investors.
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About Lululemon Athletica
lululemon athletica inc. is a designer, distributor and retailer of athletic apparel. The Company operates through two segments: Company-operated stores and Direct to consumer. It is also engaged in the sale from outlets, showrooms, sales from temporary locations, sales to wholesale accounts, warehouse sales, and license and supply arrangements.
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