Lululemon Athletica (LULU) Scheduled to Post Quarterly Earnings on Thursday

Lululemon Athletica (NASDAQ:LULU – Get Rating) is set to announce its earnings results after the market closes on Thursday, June 1st. Analysts expect the company to announce earnings of $1.97 per share for the quarter. Lululemon Athletica has set its Q1 guidance at $1.93-2.00 EPS and its FY24 guidance at $11.50-11.72 EPS.Investors that are interested in registering for the company’s conference call can do so using this link.

Lululemon Athletica (NASDAQ:LULU – Get Rating) last released its earnings results on Tuesday, March 28th. The apparel retailer reported $4.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.26 by $0.14. The business had revenue of $2.77 billion for the quarter, compared to analyst estimates of $2.70 billion. Lululemon Athletica had a net margin of 10.54% and a return on equity of 44.01%. Lululemon Athletica’s revenue for the quarter was up 30.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $3.37 earnings per share. On average, analysts expect Lululemon Athletica to post $12 EPS for the current fiscal year and $13 EPS for the next fiscal year.

Lululemon Athletica Stock Down 2.6 %

LULU stock opened at $344.58 on Thursday. The firm has a market cap of $43.82 billion, a price-to-earnings ratio of 51.58, a PEG ratio of 1.56 and a beta of 1.39. Lululemon Athletica has a 12-month low of $251.51 and a 12-month high of $389.06. The company’s fifty day simple moving average is $359.53 and its 200 day simple moving average is $337.45.

Insider Activity

In other news, insider Celeste Burgoyne sold 17,343 shares of Lululemon Athletica stock in a transaction that occurred on Friday, March 31st. The shares were sold at an average price of $362.00, for a total transaction of $6,278,166.00. Following the completion of the transaction, the insider now directly owns 15,302 shares in the company, valued at $5,539,324. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.46% of the company’s stock.

Hedge Funds Weigh In On Lululemon Athletica

A number of hedge funds have recently added to or reduced their stakes in the company. SkyView Investment Advisors LLC purchased a new stake in Lululemon Athletica in the 1st quarter worth $401,000. Centaurus Financial Inc. grew its stake in Lululemon Athletica by 37.0% in the 1st quarter. Centaurus Financial Inc. now owns 893 shares of the apparel retailer’s stock worth $325,000 after acquiring an additional 241 shares in the last quarter. Rockefeller Capital Management L.P. grew its stake in Lululemon Athletica by 17.7% in the 1st quarter. Rockefeller Capital Management L.P. now owns 57,890 shares of the apparel retailer’s stock worth $21,082,000 after acquiring an additional 8,716 shares in the last quarter. Mercer Global Advisors Inc. ADV lifted its position in shares of Lululemon Athletica by 14.0% in the 1st quarter. Mercer Global Advisors Inc. ADV now owns 3,930 shares of the apparel retailer’s stock worth $1,431,000 after purchasing an additional 483 shares during the period. Finally, National Wealth Management Group LLC purchased a new stake in shares of Lululemon Athletica in the 1st quarter worth approximately $419,000. 82.04% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the stock. BMO Capital Markets raised their target price on shares of Lululemon Athletica from $304.00 to $340.00 and gave the company a “market perform” rating in a research note on Wednesday, March 29th. Redburn Partners started coverage on shares of Lululemon Athletica in a research report on Thursday, March 16th. They set a “sell” rating and a $257.00 price target for the company. StockNews.com started coverage on shares of Lululemon Athletica in a research report on Thursday, May 18th. They set a “hold” rating for the company. Credit Suisse Group upped their price target on shares of Lululemon Athletica from $410.00 to $420.00 and gave the company an “outperform” rating in a research report on Wednesday, March 29th. Finally, Citigroup upgraded shares of Lululemon Athletica from a “neutral” rating to a “buy” rating and upped their price target for the company from $350.00 to $440.00 in a research report on Wednesday, March 29th. Three investment analysts have rated the stock with a sell rating, four have given a hold rating, twenty-two have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Lululemon Athletica has an average rating of “Moderate Buy” and a consensus target price of $404.50.

About Lululemon Athletica

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lululemon athletica, Inc engages in the business of designing, distributing, and retailing technical athletic apparel, footwear, and accessories. It operates through the following segments: Company-Operated Stores, Direct to Consumer, and Other. The company was founded by Dennis James Wilson in 1998 and is headquartered in Vancouver, Canada.