Lululemon Athletica (NASDAQ:LULU) Updates FY23 Earnings Guidance

Lululemon Athletica (NASDAQ:LULUGet Rating) issued an update on its FY23 earnings guidance on Thursday morning. The company provided earnings per share guidance of $9.35-9.50 for the period, compared to the consensus earnings per share estimate of $9.35. The company issued revenue guidance of $7.61-7.71 billion, compared to the consensus revenue estimate of $7.58 billion.Lululemon Athletica also updated its FY 2022 guidance to $9.35-$9.50 EPS.

Shares of NASDAQ LULU traded up $12.62 during mid-day trading on Thursday, reaching $302.58. The company had a trading volume of 4,259,059 shares, compared to its average volume of 1,586,594. The stock has a fifty day moving average of $336.93 and a two-hundred day moving average of $352.95. The company has a market capitalization of $38.70 billion, a price-to-earnings ratio of 40.34, a PEG ratio of 1.57 and a beta of 1.31. Lululemon Athletica has a 12-month low of $251.51 and a 12-month high of $485.83.

Lululemon Athletica (NASDAQ:LULUGet Rating) last issued its quarterly earnings data on Thursday, June 2nd. The apparel retailer reported $1.48 earnings per share for the quarter, beating the consensus estimate of $1.43 by $0.05. The firm had revenue of $1.61 billion for the quarter, compared to analyst estimates of $1.55 billion. Lululemon Athletica had a net margin of 15.59% and a return on equity of 37.92%. The company’s revenue for the quarter was up 31.6% on a year-over-year basis. During the same quarter last year, the firm earned $1.16 earnings per share. Research analysts expect that Lululemon Athletica will post 9.34 earnings per share for the current year.

Lululemon Athletica declared that its Board of Directors has authorized a stock repurchase plan on Tuesday, March 29th that allows the company to buyback $1.00 billion in outstanding shares. This buyback authorization allows the apparel retailer to buy up to 2.1% of its shares through open market purchases. Shares buyback plans are typically an indication that the company’s board believes its shares are undervalued.

Several equities analysts recently weighed in on LULU shares. Credit Suisse Group cut their price objective on shares of Lululemon Athletica from $465.00 to $450.00 and set an outperform rating on the stock in a research report on Wednesday, March 30th. StockNews.com started coverage on shares of Lululemon Athletica in a research report on Thursday, March 31st. They set a hold rating on the stock. Wedbush assumed coverage on shares of Lululemon Athletica in a research report on Thursday, April 28th. They set an outperform rating and a $430.00 price objective on the stock. Cowen lowered their price target on Lululemon Athletica from $507.00 to $497.00 in a report on Thursday, April 21st. Finally, Sanford C. Bernstein assumed coverage on Lululemon Athletica in a report on Monday, March 14th. They set an underperform rating and a $260.00 price target on the stock. One research analyst has rated the stock with a sell rating, six have given a hold rating and twenty have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of Buy and an average target price of $441.50.

Institutional investors have recently added to or reduced their stakes in the stock. Autumn Glory Partners LLC bought a new position in shares of Lululemon Athletica in the fourth quarter valued at about $416,000. Sequoia Financial Advisors LLC acquired a new stake in Lululemon Athletica in the fourth quarter worth about $395,000. Fund Management at Engine No. 1 LLC acquired a new stake in Lululemon Athletica in the first quarter worth about $363,000. Centaurus Financial Inc. increased its position in Lululemon Athletica by 103.5% in the first quarter. Centaurus Financial Inc. now owns 883 shares of the apparel retailer’s stock worth $322,000 after purchasing an additional 449 shares during the period. Finally, SkyView Investment Advisors LLC grew its position in shares of Lululemon Athletica by 2,744.1% during the 4th quarter. SkyView Investment Advisors LLC now owns 21,530 shares of the apparel retailer’s stock worth $280,000 after buying an additional 20,773 shares during the period. 85.48% of the stock is owned by institutional investors and hedge funds.

Lululemon Athletica Company Profile (Get 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 athletic activities, such as yoga, running, and training, as well as other sweaty pursuits.

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

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