Wall Street brokerages expect Lululemon Athletica Inc. (NASDAQ:LULU) to announce sales of $1.66 billion for the current fiscal quarter, Zacks reports. Eleven analysts have provided estimates for Lululemon Athletica’s earnings. The lowest sales estimate is $1.62 billion and the highest is $1.70 billion. Lululemon Athletica reported sales of $1.40 billion in the same quarter last year, which would suggest a positive year over year growth rate of 18.6%. The business is scheduled to announce its next earnings results on Thursday, March 25th.
According to Zacks, analysts expect that Lululemon Athletica will report full-year sales of $4.33 billion for the current year, with estimates ranging from $4.29 billion to $4.37 billion. For the next year, analysts forecast that the business will report sales of $5.41 billion, with estimates ranging from $5.08 billion to $5.63 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of research analysts that cover Lululemon Athletica.
Lululemon Athletica (NASDAQ:LULU) last issued its quarterly earnings data on Wednesday, December 9th. The apparel retailer reported $1.16 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.88 by $0.28. Lululemon Athletica had a return on equity of 28.89% and a net margin of 13.69%. The company had revenue of $1.12 billion during the quarter, compared to analyst estimates of $1.01 billion. During the same quarter in the previous year, the firm earned $0.96 earnings per share. Lululemon Athletica’s revenue was up 22.0% on a year-over-year basis.
Several brokerages have recently commented on LULU. Raymond James boosted their price objective on Lululemon Athletica from $400.00 to $500.00 and gave the stock a “strong-buy” rating in a report on Wednesday, December 9th. They noted that the move was a valuation call. Piper Sandler upped their target price on Lululemon Athletica from $396.00 to $490.00 and gave the stock an “overweight” rating in a research note on Friday, December 11th. Argus upped their target price on Lululemon Athletica from $380.00 to $400.00 in a research note on Monday, December 14th. BMO Capital Markets upped their target price on Lululemon Athletica from $228.00 to $275.00 in a research note on Friday, December 11th. Finally, Barclays upped their target price on Lululemon Athletica from $382.00 to $410.00 and gave the stock an “overweight” rating in a research note on Friday, December 11th. They noted that the move was a valuation call. Eleven equities research analysts have rated the stock with a hold rating, twenty-one have given a buy rating and one has issued a strong buy rating to the stock. The stock has an average rating of “Buy” and a consensus price target of $381.45.
In other Lululemon Athletica news, insider Michelle Sun Choe sold 2,000 shares of the stock in a transaction on Thursday, December 17th. The stock was sold at an average price of $382.11, for a total value of $764,220.00. Following the completion of the transaction, the insider now owns 8,145 shares in the company, valued at $3,112,285.95. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 0.32% of the stock is currently owned by corporate insiders.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in LULU. Forte Capital LLC ADV boosted its position in shares of Lululemon Athletica by 9.5% during the fourth quarter. Forte Capital LLC ADV now owns 20,765 shares of the apparel retailer’s stock valued at $7,227,000 after buying an additional 1,808 shares during the last quarter. California Public Employees Retirement System boosted its position in shares of Lululemon Athletica by 4.5% during the fourth quarter. California Public Employees Retirement System now owns 272,933 shares of the apparel retailer’s stock valued at $94,989,000 after buying an additional 11,756 shares during the last quarter. TFG Advisers LLC boosted its position in shares of Lululemon Athletica by 13.0% during the fourth quarter. TFG Advisers LLC now owns 1,003 shares of the apparel retailer’s stock valued at $349,000 after buying an additional 115 shares during the last quarter. CIBC World Markets Inc. boosted its position in shares of Lululemon Athletica by 13.7% during the fourth quarter. CIBC World Markets Inc. now owns 68,410 shares of the apparel retailer’s stock valued at $23,809,000 after buying an additional 8,238 shares during the last quarter. Finally, Carroll Financial Associates Inc. boosted its position in shares of Lululemon Athletica by 139.4% during the fourth quarter. Carroll Financial Associates Inc. now owns 486 shares of the apparel retailer’s stock valued at $169,000 after buying an additional 283 shares during the last quarter. 81.95% of the stock is currently owned by hedge funds and other institutional investors.
Shares of NASDAQ LULU traded down $4.92 during midday trading on Thursday, hitting $316.57. 59,274 shares of the company’s stock were exchanged, compared to its average volume of 1,282,061. Lululemon Athletica has a 12-month low of $128.85 and a 12-month high of $399.90. The company has a market cap of $41.26 billion, a price-to-earnings ratio of 74.58, a PEG ratio of 4.20 and a beta of 1.22. The business’s fifty day moving average price is $344.21 and its two-hundred day moving average price is $345.00.
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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