lululemon athletica inc. (LULU) Releases Q3 Earnings Guidance
lululemon athletica inc. (NASDAQ:LULU) issued an update on its third quarter earnings guidance on Thursday morning. The company provided EPS guidance of $0.50-0.52 for the period, compared to the Thomson Reuters consensus EPS estimate of $0.52. The company issued revenue guidance of $605-615 million, compared to the consensus revenue estimate of $599.29 million.lululemon athletica inc. also updated its FY18 guidance to $2.35-2.42 EPS.
Shares of lululemon athletica inc. (NASDAQ:LULU) opened at 61.69 on Friday. The company’s 50 day moving average is $60.47 and its 200-day moving average is $57.49. lululemon athletica inc. has a 1-year low of $47.26 and a 1-year high of $72.70. The stock has a market capitalization of $8.43 billion, a price-to-earnings ratio of 29.22 and a beta of 0.23.
lululemon athletica inc. (NASDAQ:LULU) last announced its earnings results on Thursday, August 31st. The apparel retailer reported $0.39 EPS for the quarter, beating the consensus estimate of $0.35 by $0.04. The business had revenue of $581.10 million for the quarter, compared to the consensus estimate of $567.40 million. lululemon athletica inc. had a return on equity of 22.91% and a net margin of 11.68%. The company’s revenue was up 12.9% on a year-over-year basis. During the same period last year, the business posted $0.38 EPS. Equities analysts anticipate that lululemon athletica inc. will post $2.35 earnings per share for the current fiscal year.
Several equities research analysts have issued reports on the company. Canaccord Genuity set a $41.00 price objective on lululemon athletica inc. and gave the stock a sell rating in a report on Tuesday. Vetr downgraded lululemon athletica inc. from a strong-buy rating to a buy rating and set a $58.10 price objective on the stock. in a report on Monday, June 19th. Cowen and Company set a $67.00 price objective on lululemon athletica inc. and gave the stock a buy rating in a report on Monday, August 21st. Credit Suisse Group restated a hold rating and set a $56.00 price objective on shares of lululemon athletica inc. in a report on Wednesday, May 17th. Finally, Jefferies Group LLC set a $56.00 price objective on lululemon athletica inc. and gave the stock a hold rating in a report on Friday, June 2nd. Three analysts have rated the stock with a sell rating, nineteen have issued a hold rating, eighteen have assigned a buy rating and one has issued a strong buy rating to the stock. The stock has a consensus rating of Hold and a consensus price target of $66.13.
In other lululemon athletica inc. news, Director Glenn Murphy purchased 97,728 shares of the firm’s stock in a transaction that occurred on Monday, June 26th. The shares were acquired at an average cost of $55.50 per share, for a total transaction of $5,423,904.00. Following the transaction, the director now directly owns 100,344 shares in the company, valued at $5,569,092. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.29% of the stock is owned by corporate insiders.
About lululemon athletica inc.
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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