Lululemon Athletica (NASDAQ:LULU) Updates FY 2021 Earnings Guidance

Lululemon Athletica (NASDAQ:LULU) issued an update on its FY 2021 earnings guidance on Thursday morning. The company provided earnings per share guidance of $7.380-$7.480 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $6.910. The company issued revenue guidance of $6.19 billion-$6.26 billion, compared to the consensus revenue estimate of $5.94 billion.Lululemon Athletica also updated its Q3 2021 guidance to $1.330-$1.380 EPS.

Shares of Lululemon Athletica stock traded up $0.73 on Thursday, hitting $431.91. The stock had a trading volume of 1,488,939 shares, compared to its average volume of 1,202,921. The stock has a market cap of $56.07 billion, a price-to-earnings ratio of 68.22, a PEG ratio of 3.06 and a beta of 1.36. The stock’s 50-day simple moving average is $402.98 and its two-hundred day simple moving average is $355.24. Lululemon Athletica has a one year low of $269.28 and a one year high of $437.32.

Lululemon Athletica (NASDAQ:LULU) last released its quarterly earnings results on Tuesday, September 7th. The apparel retailer reported $1.65 earnings per share for the quarter, beating the consensus estimate of $1.19 by $0.46. The business had revenue of $1.45 billion for the quarter, compared to analysts’ expectations of $1.33 billion. Lululemon Athletica had a net margin of 14.96% and a return on equity of 34.16%. The firm’s revenue for the quarter was up 60.7% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.74 earnings per share. On average, equities analysts anticipate that Lululemon Athletica will post 7.58 EPS for the current fiscal year.

Several analysts recently weighed in on LULU shares. UBS Group lifted their price target on shares of Lululemon Athletica from $375.00 to $430.00 and gave the company a neutral rating in a report on Friday, September 10th. Bank of America lifted their price target on shares of Lululemon Athletica from $410.00 to $480.00 and gave the company a buy rating in a report on Thursday, September 9th. MKM Partners lifted their price target on shares of Lululemon Athletica from $390.00 to $419.00 and gave the company a buy rating in a report on Tuesday, September 7th. B. Riley boosted their target price on shares of Lululemon Athletica from $370.00 to $466.00 and gave the company a buy rating in a report on Tuesday, August 17th. Finally, Telsey Advisory Group boosted their target price on shares of Lululemon Athletica from $460.00 to $485.00 and gave the company an outperform rating in a report on Thursday, September 9th. Five investment analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Lululemon Athletica currently has an average rating of Buy and a consensus target price of $448.32.

In other Lululemon Athletica news, CEO Calvin Mcdonald sold 10,000 shares of the business’s stock in a transaction dated Thursday, September 9th. The stock was sold at an average price of $427.37, for a total value of $4,273,700.00. Following the completion of the transaction, the chief executive officer now owns 53,409 shares of the company’s stock, valued at approximately $22,825,404.33. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Kathryn Henry sold 250 shares of the business’s stock in a transaction dated Wednesday, September 15th. The stock was sold at an average price of $420.00, for a total value of $105,000.00. Following the completion of the transaction, the director now directly owns 4,054 shares of the company’s stock, valued at approximately $1,702,680. The disclosure for this sale can be found here. In the last ninety days, insiders sold 45,835 shares of company stock valued at $18,663,305. 0.39% of the stock is owned by insiders.

About Lululemon Athletica

lululemon athletica, Inc engages in the designing, distributing and retail of athletic apparel and accessories. It company operates through the following business segments: Company-Operated Stores, Direct to Consumer. The Company-Operated Stores segment comprises of lululemon and ivivva brands; and specialize in athletic wear for female youth.

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

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