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

Lululemon Athletica (NASDAQ:LULU) updated its FY 2024 earnings guidance on Thursday. The company provided EPS guidance of 14.080-14.160 for the period, compared to the consensus EPS 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.

Analyst Ratings Changes

LULU has been the subject of a number of analyst reports. Telsey Advisory Group raised their target price on shares of Lululemon Athletica from $360.00 to $430.00 and gave the company an “outperform” rating in a research note on Friday. TD Cowen dropped their target price on Lululemon Athletica from $420.00 to $375.00 and set a “buy” rating on the stock in a report on Tuesday, August 27th. Piper Sandler increased their price target on shares of Lululemon Athletica from $260.00 to $340.00 and gave the company a “neutral” rating in a report on Friday. TD Cowen upped their price target on Lululemon Athletica from $382.00 to $383.00 in a report on Thursday. Finally, Robert W. Baird lifted their price objective on Lululemon Athletica from $380.00 to $440.00 and gave the stock an “outperform” rating in a report on Friday. Two analysts have rated the stock with a sell rating, ten have issued a hold rating and nineteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $366.26.

Lululemon Athletica Trading Up 18.0 %

LULU traded up $62.05 during trading hours on Friday, hitting $406.86. The company’s stock had a trading volume of 4,589,726 shares, compared to its average volume of 2,092,530. The stock has a market cap of $49.95 billion, a price-to-earnings ratio of 31.14, 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 price is $303.40 and its 200-day moving average price is $287.81.

Lululemon Athletica (NASDAQ:LULU) last released its earnings results on Thursday, December 5th. The apparel retailer reported $2.87 earnings per share for the quarter, topping analysts’ consensus estimates of $2.69 by $0.18. The business had revenue of $2.40 billion for the quarter, compared to analyst estimates of $2.36 billion. Lululemon Athletica had a return on equity of 42.59% and a net margin of 16.34%. The business’s revenue was up 9.1% compared to the same quarter last year. During the same quarter last year, the firm posted $2.53 earnings per share. On average, analysts forecast that Lululemon Athletica will post 13.94 earnings per share for the current year.

Insider Transactions at Lululemon Athletica

In other Lululemon Athletica news, insider Nicole Neuburger sold 486 shares of the business’s stock in a transaction dated Thursday, September 26th. The shares were sold at an average price of $269.59, for a total value of $131,020.74. Following the completion of the transaction, the insider now directly owns 6,198 shares in the company, valued at approximately $1,670,918.82. The trade was a 7.27 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 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.