Lululemon Athletica (NASDAQ:LULU) Releases Q2 Earnings Guidance

Lululemon Athletica (NASDAQ:LULU) issued an update on its second quarter earnings guidance on Wednesday morning. The company provided earnings per share (EPS) guidance of $0.86-0.88 for the period, compared to the Thomson Reuters consensus estimate of $0.88. The company issued revenue guidance of $825-835 million, compared to the consensus revenue estimate of $834.76 million.Lululemon Athletica also updated its FY 2019 guidance to $4.51-4.58 EPS.

Shares of NASDAQ:LULU traded down $0.74 on Wednesday, reaching $170.89. 3,748,842 shares of the company were exchanged, compared to its average volume of 2,151,594. Lululemon Athletica has a 1-year low of $110.71 and a 1-year high of $179.49. The stock has a market cap of $22.53 billion, a PE ratio of 44.50, a price-to-earnings-growth ratio of 2.04 and a beta of 0.60.

Lululemon Athletica (NASDAQ:LULU) last posted its quarterly earnings results on Wednesday, June 12th. The apparel retailer reported $0.74 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.70 by $0.04. The business had revenue of $782.30 million for the quarter, compared to analysts’ expectations of $755.92 million. Lululemon Athletica had a net margin of 14.71% and a return on equity of 35.49%. The business’s revenue for the quarter was up 20.4% on a year-over-year basis. During the same period in the prior year, the company posted $0.55 EPS. On average, analysts forecast that Lululemon Athletica will post 4.6 EPS for the current year.

Lululemon Athletica announced that its Board of Directors has approved a share buyback plan on Wednesday, March 27th that allows the company to repurchase $500.00 million in outstanding shares. This repurchase authorization allows the apparel retailer to repurchase up to 2.6% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s management believes its shares are undervalued.

Several equities analysts have weighed in on LULU shares. Cowen lifted their target price on Lululemon Athletica from $190.00 to $192.00 and gave the company an outperform rating in a research note on Thursday, March 28th. Canaccord Genuity set a $186.00 target price on Lululemon Athletica and gave the company a buy rating in a research note on Tuesday, April 23rd. B. Riley lifted their target price on Lululemon Athletica from $160.00 to $165.00 and gave the company a neutral rating in a research note on Friday, May 17th. Wedbush cut Lululemon Athletica from an outperform rating to a neutral rating and lowered their target price for the company from $176.00 to $155.00 in a research note on Friday, March 22nd. Finally, MKM Partners lifted their target price on Lululemon Athletica from $179.00 to $189.00 and gave the company a buy rating in a research note on Thursday, March 28th. Eleven analysts have rated the stock with a hold rating, twenty-two have issued a buy rating and one has issued a strong buy rating to the company’s stock. Lululemon Athletica presently has an average rating of Buy and an average target price of $177.70.

In other news, insider Michelle Sun Choe sold 6,170 shares of the company’s stock in a transaction that occurred on Thursday, April 4th. The stock was sold at an average price of $170.92, for a total transaction of $1,054,576.40. Following the completion of the transaction, the insider now directly owns 11,294 shares in the company, valued at $1,930,370.48. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, COO Stuart Haselden sold 49,319 shares of the company’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 transaction, the chief operating officer now owns 24,685 shares of the company’s stock, valued at $4,063,644.70. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 519,344 shares of company stock valued at $79,873,942. Corporate insiders own 0.32% of the company’s stock.

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

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