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

Lululemon Athletica (NASDAQ:LULU) updated its FY 2024 earnings guidance on Thursday. The company provided earnings per share guidance of 14.080-14.160 for the period, compared to the consensus earnings per share estimate of 14.020. The company issued revenue guidance of $10.5 billion-$10.5 billion, compared to the consensus revenue estimate of $10.4 billion. Lululemon Athletica also updated its Q4 guidance to $5.56-$5.64 EPS.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on LULU shares. Piper Sandler raised their target price on Lululemon Athletica from $250.00 to $260.00 and gave the company a “neutral” rating in a research report on Friday, August 30th. Barclays reduced their target price on Lululemon Athletica from $263.00 to $261.00 and set an “equal weight” rating on the stock in a report on Friday, August 30th. Guggenheim reduced their target price on Lululemon Athletica from $525.00 to $350.00 and set a “buy” rating on the stock in a report on Friday, August 30th. Sanford C. Bernstein dropped their price objective on shares of Lululemon Athletica from $345.00 to $325.00 and set a “market perform” rating for the company in a research report on Friday, August 30th. Finally, Stifel Nicolaus dropped their target price on shares of Lululemon Athletica from $416.00 to $370.00 and set a “buy” rating for the company in a research report on Thursday, August 22nd. Two analysts have rated the stock with a sell rating, ten have given a hold rating and nineteen have given a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $359.56.

Lululemon Athletica Trading Up 0.7 %

Shares of Lululemon Athletica stock traded up $2.54 during trading on Thursday, hitting $344.81. The stock had a trading volume of 4,350,702 shares, compared to its average volume of 2,085,386. The firm has a market cap of $42.34 billion, a price-to-earnings ratio of 26.44, a P/E/G ratio of 2.49 and a beta of 1.23. Lululemon Athletica has a 12 month low of $226.01 and a 12 month high of $516.39. The business’s 50-day moving average is $301.88 and its 200 day moving average is $287.41.

Lululemon Athletica (NASDAQ:LULU) last announced its quarterly earnings results on Thursday, December 5th. The apparel retailer reported $2.87 earnings per share for the quarter, beating the consensus estimate of $2.69 by $0.18. The company had revenue of $2.40 billion during the quarter, compared to the consensus estimate of $2.36 billion. Lululemon Athletica had a net margin of 16.34% and a return on equity of 42.59%. The firm’s quarterly revenue was up 9.1% compared to the same quarter last year. During the same quarter last year, the firm earned $2.53 earnings per share. As a group, equities analysts expect that Lululemon Athletica will post 13.94 EPS for the current year.

Insider Transactions at Lululemon Athletica

In other Lululemon Athletica news, insider Nicole Neuburger sold 486 shares of the stock in a transaction on Thursday, September 26th. The shares were sold at an average price of $269.59, for a total transaction of $131,020.74. Following the transaction, the insider now directly owns 6,198 shares of the company’s stock, valued at $1,670,918.82. This trade represents a 7.27 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.48% of the company’s stock.

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.