Lululemon Athletica (NASDAQ:LULU) Issues FY23 Earnings Guidance

Lululemon Athletica (NASDAQ:LULUGet Rating) updated its FY23 earnings guidance on Thursday. The company provided earnings per share (EPS) guidance of $9.15-9.35 for the period, compared to the Thomson Reuters consensus estimate of $9.33. The company issued revenue guidance of $7.490-7.615 billion, compared to the consensus revenue estimate of $7.58 billion.

A number of analysts have commented on the stock. Telsey Advisory Group cut their price target on shares of Lululemon Athletica from $515.00 to $470.00 and set an outperform rating on the stock in a research report on Tuesday, January 11th. Jefferies Financial Group cut their price target on shares of Lululemon Athletica from $420.00 to $340.00 in a research report on Wednesday, January 26th. JPMorgan Chase & Co. cut their price target on shares of Lululemon Athletica from $518.00 to $450.00 in a research report on Tuesday, January 11th. Robert W. Baird upped their price objective on shares of Lululemon Athletica from $425.00 to $450.00 in a report on Wednesday, March 30th. Finally, Morgan Stanley upped their price objective on shares of Lululemon Athletica from $300.00 to $339.00 and gave the company an equal weight rating in a report on Thursday. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and twenty have issued a buy rating to the stock. According to MarketBeat, the company presently has an average rating of Buy and a consensus price target of $440.60.

Shares of LULU stock opened at $385.40 on Thursday. Lululemon Athletica has a 52-week low of $278.00 and a 52-week high of $485.83. The company has a 50-day simple moving average of $333.93 and a two-hundred day simple moving average of $376.96. The company has a market capitalization of $49.30 billion, a price-to-earnings ratio of 51.39, a PEG ratio of 2.10 and a beta of 1.34.

Lululemon Athletica (NASDAQ:LULUGet Rating) last issued its quarterly earnings data on Tuesday, March 29th. The apparel retailer reported $3.37 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $3.27 by $0.10. Lululemon Athletica had a net margin of 15.59% and a return on equity of 37.92%. The business had revenue of $2.13 billion during the quarter, compared to the consensus estimate of $2.13 billion. During the same period in the prior year, the firm posted $2.58 EPS. The firm’s quarterly revenue was up 23.1% compared to the same quarter last year. As a group, research analysts predict that Lululemon Athletica will post 9.31 earnings per share for the current fiscal year.

Lululemon Athletica declared that its board has authorized a share buyback plan on Tuesday, March 29th that authorizes the company to buyback $1.00 billion in shares. This buyback authorization authorizes the apparel retailer to repurchase up to 2.1% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s leadership believes its shares are undervalued.

Several institutional investors have recently added to or reduced their stakes in the company. Integrated Wealth Concepts LLC boosted its holdings in Lululemon Athletica by 2.7% in the 4th quarter. Integrated Wealth Concepts LLC now owns 2,856 shares of the apparel retailer’s stock worth $1,118,000 after buying an additional 74 shares during the period. First Community Trust NA bought a new position in Lululemon Athletica in the 4th quarter worth approximately $29,000. Tobam bought a new position in Lululemon Athletica in the 4th quarter worth approximately $40,000. EP Wealth Advisors LLC boosted its holdings in Lululemon Athletica by 7.4% in the 4th quarter. EP Wealth Advisors LLC now owns 1,626 shares of the apparel retailer’s stock worth $636,000 after buying an additional 112 shares during the period. Finally, Glenmede Trust Co. NA boosted its holdings in Lululemon Athletica by 2.8% in the 4th quarter. Glenmede Trust Co. NA now owns 6,827 shares of the apparel retailer’s stock worth $2,672,000 after buying an additional 184 shares during the period. 81.79% of the stock is owned by hedge funds and other institutional investors.

About Lululemon Athletica (Get Rating)

lululemon athletica inc., together with its subsidiaries, designs, distributes, and retails athletic apparel and accessories for women and men. It operates through 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.

See Also

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

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