Brokerages forecast that Lululemon Athletica inc. (NASDAQ:LULU) will report sales of $754.10 million for the current quarter, according to Zacks Investment Research. Twelve analysts have made estimates for Lululemon Athletica’s earnings, with the highest sales estimate coming in at $766.47 million and the lowest estimate coming in at $748.87 million. Lululemon Athletica reported sales of $649.71 million during the same quarter last year, which indicates a positive year-over-year growth rate of 16.1%. The company is expected to announce its next earnings results on Thursday, May 30th.
On average, analysts expect that Lululemon Athletica will report full year sales of $3.76 billion for the current fiscal year, with estimates ranging from $3.74 billion to $3.80 billion. For the next year, analysts expect that the business will post sales of $4.27 billion, with estimates ranging from $4.17 billion to $4.40 billion. Zacks’ sales calculations are an average based on a survey of sell-side analysts that that provide coverage for Lululemon Athletica.
Lululemon Athletica (NASDAQ:LULU) last posted its quarterly earnings data on Wednesday, March 27th. The apparel retailer reported $1.85 earnings per share for the quarter, topping analysts’ consensus estimates of $1.74 by $0.11. Lululemon Athletica had a return on equity of 35.49% and a net margin of 14.71%. The company had revenue of $1.17 billion during the quarter, compared to analysts’ expectations of $1.15 billion. During the same period last year, the firm earned $1.33 EPS. The firm’s revenue for the quarter was up 25.6% on a year-over-year basis.
Shares of LULU stock opened at $177.09 on Friday. The company has a market cap of $23.22 billion, a PE ratio of 46.12, a price-to-earnings-growth ratio of 2.12 and a beta of 0.52. Lululemon Athletica has a 12-month low of $95.39 and a 12-month high of $179.49.
Lululemon Athletica declared that its board has authorized a stock repurchase plan on Wednesday, March 27th that permits the company to repurchase $500.00 million in shares. This repurchase authorization permits the apparel retailer to purchase up to 2.6% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s board of directors believes its stock is undervalued.
In related news, COO Stuart Haselden sold 49,319 shares of the firm’s stock in a transaction that occurred on Friday, March 29th. The stock was sold at an average price of $164.62, for a total value of $8,118,893.78. Following the completion of the transaction, the chief operating officer now directly owns 24,685 shares of the company’s stock, valued at approximately $4,063,644.70. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder Dennis J. Wilson sold 1,379,000 shares of the firm’s stock in a transaction that occurred on Wednesday, January 30th. The shares were sold at an average price of $145.00, for a total value of $199,955,000.00. Following the completion of the transaction, the insider now directly owns 3,852 shares of the company’s stock, valued at $558,540. The disclosure for this sale can be found here. Insiders sold a total of 2,142,883 shares of company stock valued at $316,468,220 over the last ninety days. 0.32% of the stock is currently owned by company insiders.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. AdvisorNet Financial Inc increased its position in Lululemon Athletica by 70.8% during the fourth quarter. AdvisorNet Financial Inc now owns 205 shares of the apparel retailer’s stock worth $25,000 after buying an additional 85 shares in the last quarter. DNB Asset Management AS increased its position in Lululemon Athletica by 0.9% during the fourth quarter. DNB Asset Management AS now owns 11,137 shares of the apparel retailer’s stock worth $1,354,000 after buying an additional 100 shares in the last quarter. First Mercantile Trust Co. increased its position in Lululemon Athletica by 2.6% during the fourth quarter. First Mercantile Trust Co. now owns 3,900 shares of the apparel retailer’s stock worth $474,000 after buying an additional 100 shares in the last quarter. Telemus Capital LLC increased its position in Lululemon Athletica by 1.2% during the fourth quarter. Telemus Capital LLC now owns 10,124 shares of the apparel retailer’s stock worth $1,231,000 after buying an additional 119 shares in the last quarter. Finally, Chartwell Investment Partners LLC increased its position in Lululemon Athletica by 4.9% during the first quarter. Chartwell Investment Partners LLC now owns 3,269 shares of the apparel retailer’s stock worth $536,000 after buying an additional 153 shares in the last quarter. 80.30% of the stock is owned by hedge funds and other institutional investors.
About Lululemon Athletica
lululemon athletica inc., together with its subsidiaries, designs, distributes, and retails athletic apparel and accessories for women, men, and female youth. 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; and athletic wear for female youth.
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