$754.10 Million in Sales Expected for Lululemon Athletica inc. (LULU) This Quarter

Equities research analysts predict that Lululemon Athletica inc. (NASDAQ:LULU) will report sales of $754.10 million for the current quarter, Zacks reports. Twelve analysts have made estimates for Lululemon Athletica’s earnings, with the lowest sales estimate coming in at $748.87 million and the highest estimate coming in at $766.47 million. Lululemon Athletica posted sales of $649.71 million during the same quarter last year, which suggests a positive year-over-year growth rate of 16.1%. The company is expected to announce its next quarterly earnings results on Thursday, May 30th.

According to Zacks, analysts expect that Lululemon Athletica will report full year sales of $3.75 billion for the current year, with estimates ranging from $3.74 billion to $3.80 billion. For the next fiscal year, analysts anticipate that the company will post sales of $4.27 billion, with estimates ranging from $4.17 billion to $4.40 billion. Zacks Investment Research’s sales averages are an average based on a survey of sell-side analysts that follow Lululemon Athletica.

Lululemon Athletica (NASDAQ:LULU) last announced its earnings results on Wednesday, March 27th. The apparel retailer reported $1.85 EPS for the quarter, beating the Zacks’ consensus estimate of $1.74 by $0.11. Lululemon Athletica had a net margin of 14.71% and a return on equity of 35.49%. The business had revenue of $1.17 billion during the quarter, compared to analysts’ expectations of $1.15 billion. During the same period in the prior year, the company earned $1.33 earnings per share. The firm’s revenue was up 25.6% on a year-over-year basis.

A number of brokerages have recently issued reports on LULU. MKM Partners increased their price objective on shares of Lululemon Athletica from $179.00 to $189.00 and gave the stock a “buy” rating in a research note on Thursday, March 28th. Morgan Stanley increased their price objective on shares of Lululemon Athletica from $141.00 to $150.00 and gave the stock an “equal weight” rating in a research note on Thursday, March 28th. Argus increased their price objective on shares of Lululemon Athletica to $195.00 and gave the stock a “buy” rating in a research note on Friday, March 29th. Canaccord Genuity reissued a “buy” rating and issued a $186.00 price objective (up from $163.00) on shares of Lululemon Athletica in a research note on Thursday, March 28th. Finally, Credit Suisse Group increased their price objective on shares of Lululemon Athletica from $172.00 to $190.00 and gave the stock an “outperform” rating in a research note on Thursday, March 28th. Ten investment analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and one has given a strong buy rating to the company. Lululemon Athletica has a consensus rating of “Buy” and a consensus target price of $167.91.

Shares of NASDAQ LULU traded up $1.88 during midday trading on Friday, reaching $169.88. The stock had a trading volume of 1,282,039 shares, compared to its average volume of 2,364,630. The stock has a market cap of $22.00 billion, a PE ratio of 44.24, a price-to-earnings-growth ratio of 2.01 and a beta of 0.52. Lululemon Athletica has a 12-month low of $91.19 and a 12-month high of $172.90.

Lululemon Athletica declared that its board has approved a stock buyback plan on Wednesday, March 27th that allows the company to buyback $500.00 million in shares. This buyback authorization allows the apparel retailer to reacquire up to 2.6% of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s leadership believes its shares are undervalued.

In other Lululemon Athletica news, major shareholder Dennis J. Wilson sold 244,539 shares of the stock in a transaction on Monday, January 28th. The shares were sold at an average price of $149.83, for a total transaction of $36,639,278.37. Following the completion of the transaction, the insider now owns 3,852 shares in the company, valued at $577,145.16. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder Dennis J. Wilson sold 444,389 shares of the stock in a transaction on Tuesday, January 15th. The shares were sold at an average price of $140.39, for a total transaction of $62,387,771.71. Following the transaction, the insider now owns 3,852 shares of the company’s stock, valued at approximately $540,782.28. The disclosure for this sale can be found here. Insiders have sold 2,587,272 shares of company stock valued at $378,855,992 in the last quarter. 0.32% of the stock is owned by company insiders.

A number of hedge funds have recently added to or reduced their stakes in the business. D.B. Root & Company LLC lifted its holdings in shares of Lululemon Athletica by 3.2% in the 1st quarter. D.B. Root & Company LLC now owns 5,301 shares of the apparel retailer’s stock worth $869,000 after acquiring an additional 166 shares during the last quarter. First Citizens Bank & Trust Co. lifted its holdings in shares of Lululemon Athletica by 12.5% in the 1st quarter. First Citizens Bank & Trust Co. now owns 9,846 shares of the apparel retailer’s stock worth $1,613,000 after acquiring an additional 1,093 shares during the last quarter. Calamos Wealth Management LLC lifted its holdings in shares of Lululemon Athletica by 9.8% in the 1st quarter. Calamos Wealth Management LLC now owns 21,110 shares of the apparel retailer’s stock worth $3,459,000 after acquiring an additional 1,880 shares during the last quarter. Lake Street Financial LLC bought a new stake in shares of Lululemon Athletica in the 1st quarter worth about $270,000. Finally, Gofen & Glossberg LLC IL bought a new stake in shares of Lululemon Athletica in the 1st quarter worth about $216,000. Institutional investors and hedge funds own 79.50% of the company’s stock.

About Lululemon Athletica

lululemon athletica, Inc engages in the design, distribution, and retail of athletic apparel and accessories. It company operates through the following segments: Company-Operated Stores, Direct to Consumer, and Other. The Company-Operated Stores segment comprises of lululemon and ivivva brands; and specialize athletic wear for female youth.

Further Reading: What strategies should day traders use to execute a trade?

Get a free copy of the Zacks research report on Lululemon Athletica (LULU)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

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

Receive News & Ratings for Lululemon Athletica Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Lululemon Athletica and related companies with MarketBeat.com's FREE daily email newsletter.