Lululemon Athletica (NASDAQ:LULU) Releases FY23 Earnings Forecast

0

Lululemon Athletica (NASDAQ:LULU – Get Rating) released an update to its fiscal 23 earnings guidance Thursday morning. The company provided earnings guidance of $9.35-9.50 per share for the period, compared to the consensus estimate of earnings per share of $9.35. The company released a revenue forecast of $7.61 billion to $7.71 billion, compared to the consensus revenue estimate of $7.58 billion. Lululemon Athletica also updated its guidance for fiscal year 2022 to $9.35-$9.50 EPS.

Shares of NASDAQ:LULU traded at $12.62 in Thursday’s midday session, hitting $302.58. 4,259,059 shares were traded, against an average volume of 1,586,594. The stock has a market capitalization of $38.70 billion, a price/earnings ratio of 40.34, a P/E/G ratio of 1.57 and a beta of 1.31. The company’s 50-day moving average price is $336.93 and its 200-day moving average price is $352.95. Lululemon Athletica has a 12-month low of $251.51 and a 12-month high of $485.83.

Lululemon Athletica (NASDAQ:LULU – Get Rating) last released quarterly earnings data on Thursday, June 2. The apparel retailer reported EPS of $1.48 for the quarter, beating analyst consensus estimates of $1.43 by $0.05. The company posted revenue of $1.61 billion for the quarter, versus analyst estimates of $1.55 billion. Lululemon Athletica had a return on equity of 37.92% and a net margin of 15.59%. The company’s quarterly revenue increased 31.6% year over year. In the same period a year earlier, the company earned earnings per share of $1.16. Research analysts expect Lululemon Athletica to post earnings per share of 9.34 for the current fiscal year.

Lululemon Athletica said its board approved a share buyback program on Tuesday, March 29 that allows the company to repurchase $1.00 billion of outstanding stock. This repurchase authorization allows the clothing retailer to purchase up to 2.1% of its shares through open market purchases. Share repurchase programs usually indicate that the company’s board of directors believe its shares are undervalued.

LULU has been the subject of a number of recent analyst reports. Zacks Investment Research reaffirmed a hold rating on Lululemon Athletica shares in a Thursday, March 17 research note. B. Riley lowered his price target on Lululemon Athletica from $487.00 to $440.00 in a Tuesday, May 17 research note. Sanford C. Bernstein assumed cover for Lululemon Athletica in a Monday, March 14 research note. They issued an underperforming rating and a price target of $260.00 on the stock. Morgan Stanley moved Lululemon Athletica from an equal weight rating to an overweight rating and lowered its price target for the company from $339.00 to $303.00 in a Thursday, May 26 research note. Finally, Deutsche Bank Aktiengesellschaft lowered its price target on Lululemon Athletica from $428.00 to $423.00 and placed a buy rating on the stock in a Thursday, April 21 research note. One research analyst gave the stock a sell rating, six gave the stock a hold rating and twenty gave the stock a buy rating. According to MarketBeat, the stock has a consensus buy rating and an average target price of $441.50.

A number of hedge funds and other institutional investors have recently increased or reduced their stakes in LULU. IHT Wealth Management LLC increased its stake in Lululemon Athletica shares by 2.1% in Q1. IHT Wealth Management LLC now owns 2,267 shares of the clothing retailer valued at $828,000 after purchasing 46 additional shares during the period. Beacon Pointe Advisors LLC increased its stake in Lululemon Athletica by 4.1% during the first quarter. Beacon Pointe Advisors LLC now owns 1,222 shares of the clothing retailer valued at $446,000 after buying 48 additional shares in the last quarter. Sequoia Financial Advisors LLC increased its equity stake in Lululemon Athletica by 5.1% in Q1. Sequoia Financial Advisors LLC now owns 1,060 shares of the clothing retailer worth $387,000 after buying 51 additional shares last quarter. International Assets Investment Management LLC increased its equity stake in Lululemon Athletica by 3.5% in Q1. International Assets Investment Management LLC now owns 1,615 shares of the clothing retailer worth $590,000 after buying 54 more shares last quarter. Finally, Global Wealth Management Investment Advisory Inc. increased its stake in Lululemon Athletica shares by 60.2% in the 1st quarter. Global Wealth Management Investment Advisory Inc. now owns 197 shares of the clothing retailer worth $72,000 after buying 74 more shares in the last quarter. Institutional investors and hedge funds hold 85.48% of the company’s shares.

About Lululemon Athletica (Get a rating)

lululemon athletica inc., together with its subsidiaries, designs, distributes and retails athletic apparel and accessories for women and men. It operates in two segments, company-operated stores and direct-to-consumer. The company offers pants, shorts, tops and jackets for healthy lifestyle and sports activities, such as yoga, running and working out, and other sweaty activities.

See also

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



Get news and reviews for Lululemon Athletica Daily – Enter your email address below to receive a concise daily summary of breaking news and analyst ratings for Lululemon Athletica and related companies with MarketBeat.com’s free daily email newsletter.

Share.

About Author

Comments are closed.