Q1 2023 EPS Estimates for Lululemon Athletica Inc. Lifted by Analyst (NASDAQ:LULU)

Lululemon Athletica Inc. (NASDAQ:LULU – Get Rating) – Research analysts at Jefferies Financial Group upped their Q1 2023 earnings per share estimates for Lululemon Athletica in a research report issued to clients and investors on Thursday, April 21st. Jefferies Financial Group analyst R. Konik now anticipates that the apparel retailer will post earnings per share of $1.43 for the quarter, up from their previous forecast of $1.30. Jefferies Financial Group also issued estimates for Lululemon Athletica’s Q4 2023 earnings at $4.28 EPS and FY2023 earnings at $9.25 EPS.

Lululemon Athletica (NASDAQ:LULU – Get Rating) last issued its quarterly earnings results on Tuesday, March 29th. The apparel retailer reported $3.37 EPS for the quarter, topping analysts’ consensus estimates of $3.27 by $0.10. Lululemon Athletica had a return on equity of 37.92% and a net margin of 15.59%. The company had revenue of $2.13 billion during the quarter, compared to analyst estimates of $2.13 billion. During the same period in the previous year, the company earned $2.58 earnings per share. The company’s quarterly revenue was up 23.1% compared to the same quarter last year.

A number of other research analysts have also commented on LULU. Robert W. Baird upped their target price on Lululemon Athletica from $425.00 to $450.00 in a research note on Wednesday, March 30th. Piper Sandler cut their target price on Lululemon Athletica from $487.00 to $480.00 in a research note on Wednesday, January 12th. MKM Partners upped their target price on Lululemon Athletica from $438.00 to $447.00 in a research note on Wednesday, March 30th. Cowen cut their target price on Lululemon Athletica from $507.00 to $497.00 in a research note on Thursday. Finally, BTIG Research cut their target price on Lululemon Athletica from $490.00 to $489.00 in a research note on Tuesday, January 11th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and nineteen have assigned a buy rating to the stock. According to MarketBeat, Lululemon Athletica presently has an average rating of “Buy” and an average price target of $445.28.

Shares of LULU stock opened at $363.66 on Monday. The stock has a 50 day moving average of $336.14 and a 200-day moving average of $376.47. The firm has a market cap of $46.52 billion, a PE ratio of 48.49, a price-to-earnings-growth ratio of 2.03 and a beta of 1.34. Lululemon Athletica has a 12 month low of $278.00 and a 12 month high of $485.83.

A number of institutional investors have recently bought and sold shares of LULU. Norges Bank acquired a new position in Lululemon Athletica in the fourth quarter valued at about $393,224,000. Schroder Investment Management Group lifted its stake in Lululemon Athletica by 4,240.9% in the fourth quarter. Schroder Investment Management Group now owns 839,309 shares of the apparel retailer’s stock valued at $328,548,000 after buying an additional 819,974 shares during the period. Lord Abbett & CO. LLC lifted its stake in Lululemon Athletica by 2,475.7% in the third quarter. Lord Abbett & CO. LLC now owns 632,032 shares of the apparel retailer’s stock valued at $255,784,000 after buying an additional 607,494 shares during the period. Allspring Global Investments Holdings LLC acquired a new position in Lululemon Athletica in the fourth quarter valued at about $144,078,000. Finally, Moors & Cabot Inc. acquired a new position in Lululemon Athletica in the third quarter valued at about $291,000. Institutional investors and hedge funds own 81.79% of the company’s stock.

Lululemon Athletica announced that its board has approved a share buyback program on Tuesday, March 29th that allows the company to buyback $1.00 billion in outstanding shares. This buyback authorization allows the apparel retailer to reacquire up to 2.1% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s board of directors believes its stock is undervalued.

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 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.

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