Lululemon Athletica (NASDAQ:LULU) Issues Q3 2024 Earnings Guidance

Lululemon Athletica (NASDAQ:LULU) updated its third quarter 2024 earnings guidance on Friday. The company provided earnings per share (EPS) guidance of 2.680-2.730 for the period, compared to the consensus estimate of 2.700. The company issued revenue guidance of $2.3 billion-$2.4 billion, compared to the consensus revenue estimate of $2.4 billion.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on LULU shares. Sanford C. Bernstein cut their price target on Lululemon Athletica from $345.00 to $325.00 and set a market perform rating on the stock in a research note on Friday. Wedbush reduced their target price on Lululemon Athletica from $400.00 to $324.00 and set an outperform rating on the stock in a report on Wednesday. The Goldman Sachs Group cut Lululemon Athletica from a buy rating to a neutral rating and lowered their price target for the company from $463.00 to $286.00 in a research note on Friday, August 2nd. Jefferies Financial Group reiterated an underperform rating and issued a $220.00 price target on shares of Lululemon Athletica in a research report on Thursday, July 25th. Finally, BMO Capital Markets decreased their price objective on shares of Lululemon Athletica from $420.00 to $384.00 and set a market perform rating for the company in a report on Thursday, June 6th. Two analysts have rated the stock with a sell rating, ten have given a hold rating and twenty-one have issued a buy rating to the company’s stock. According to MarketBeat, Lululemon Athletica has a consensus rating of Moderate Buy and a consensus price target of $355.84.

Lululemon Athletica Trading Up 0.2 %

Shares of Lululemon Athletica stock traded up $0.46 during trading hours on Friday, reaching $259.47. 7,373,333 shares of the company’s stock were exchanged, compared to its average volume of 2,135,763. The stock has a market cap of $32.43 billion, a P/E ratio of 20.81, a P/E/G ratio of 1.25 and a beta of 1.26. The company has a 50 day moving average of $272.61 and a two-hundred day moving average of $341.27. Lululemon Athletica has a fifty-two week low of $226.01 and a fifty-two week high of $516.39.

Lululemon Athletica (NASDAQ:LULU) last issued its quarterly earnings results on Thursday, August 29th. The apparel retailer reported $3.15 EPS for the quarter, beating the consensus estimate of $2.93 by $0.22. The firm had revenue of $2.40 billion during the quarter, compared to analysts’ expectations of $2.41 billion. Lululemon Athletica had a return on equity of 42.64% and a net margin of 16.09%. The business’s quarterly revenue was up 9.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.68 earnings per share. As a group, analysts expect that Lululemon Athletica will post 14.22 earnings per share for the current fiscal year.

Lululemon Athletica announced that its board has initiated a stock buyback program on Wednesday, June 5th that permits the company to buyback $1.00 billion in outstanding shares. This buyback authorization permits the apparel retailer to repurchase up to 2.5% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s management believes its stock is undervalued.

Lululemon Athletica Company Profile

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.