Lululemon Athletica (NASDAQ:LULU) Releases FY 2024 Earnings Guidance

Lululemon Athletica (NASDAQ:LULUGet Free Report) issued an update on its FY 2024 earnings guidance on Thursday morning. The company provided EPS guidance of 14.000-14.200 for the period, compared to the consensus EPS estimate of 14.130. The company issued revenue guidance of $10.7 billion-$10.8 billion, compared to the consensus revenue estimate of $10.9 billion. Lululemon Athletica also updated its FY25 guidance to $14.00-14.20 EPS.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on LULU. BNP Paribas cut Lululemon Athletica from a neutral rating to an underperform rating and dropped their price objective for the company from $430.00 to $415.00 in a report on Friday, February 9th. Wells Fargo & Company increased their price objective on shares of Lululemon Athletica from $445.00 to $450.00 and gave the stock an equal weight rating in a research note on Friday, December 8th. BMO Capital Markets lifted their price objective on shares of Lululemon Athletica from $376.00 to $408.00 and gave the company a market perform rating in a research note on Friday, December 8th. UBS Group lifted their price target on Lululemon Athletica from $429.00 to $470.00 and gave the company a neutral rating in a research note on Friday, December 8th. Finally, Stifel Nicolaus raised their price objective on Lululemon Athletica from $529.00 to $596.00 and gave the company a buy rating in a report on Thursday, December 14th. Two research analysts have rated the stock with a sell rating, six have given a hold rating and twenty-four have given a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of Moderate Buy and an average price target of $503.07.

View Our Latest Research Report on Lululemon Athletica

Lululemon Athletica Stock Performance

Shares of LULU opened at $478.84 on Friday. The firm’s 50-day simple moving average is $464.77 and its two-hundred day simple moving average is $441.63. Lululemon Athletica has a fifty-two week low of $300.78 and a fifty-two week high of $516.39. The stock has a market cap of $60.42 billion, a PE ratio of 60.92, a price-to-earnings-growth ratio of 1.63 and a beta of 1.33.

Lululemon Athletica (NASDAQ:LULUGet Free Report) last released its earnings results on Thursday, March 21st. The apparel retailer reported $5.29 EPS for the quarter, topping analysts’ consensus estimates of $5.00 by $0.29. The firm had revenue of $3.21 billion for the quarter, compared to analysts’ expectations of $3.19 billion. Lululemon Athletica had a return on equity of 44.81% and a net margin of 10.89%. The company’s quarterly revenue was up 15.6% on a year-over-year basis. During the same period in the prior year, the firm posted $4.40 earnings per share. Equities research analysts predict that Lululemon Athletica will post 12.49 EPS for the current year.

Lululemon Athletica declared that its Board of Directors has initiated a stock repurchase program on Thursday, December 7th that permits the company to repurchase $1.00 billion in shares. This repurchase authorization permits the apparel retailer to purchase up to 1.7% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company’s board believes its shares are undervalued.

Hedge Funds Weigh In On Lululemon Athletica

A number of hedge funds have recently added to or reduced their stakes in the company. SageView Advisory Group LLC bought a new stake in shares of Lululemon Athletica in the 4th quarter worth $888,000. Oarsman Capital Inc. bought a new stake in shares of Lululemon Athletica in the fourth quarter worth approximately $473,000. Harbour Investments Inc. lifted its position in Lululemon Athletica by 311.5% during the fourth quarter. Harbour Investments Inc. now owns 107 shares of the apparel retailer’s stock valued at $55,000 after purchasing an additional 81 shares during the period. O Dell Group LLC purchased a new stake in Lululemon Athletica in the fourth quarter worth approximately $146,000. Finally, Mercer Global Advisors Inc. ADV boosted its holdings in Lululemon Athletica by 5.0% in the fourth quarter. Mercer Global Advisors Inc. ADV now owns 3,565 shares of the apparel retailer’s stock worth $1,823,000 after purchasing an additional 171 shares during the last quarter. 91.50% of the stock is currently owned by hedge funds and other institutional investors.

About Lululemon Athletica

(Get Free Report)

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 operates in two segments, Company-Operated Stores and Direct to Consumer. The company offers pants, shorts, tops, and jackets for healthy lifestyle, such as yoga, running, training, and other activities.

Further Reading

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

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