Lululemon Athletica (NASDAQ:LULU) Releases Q3 2024 Earnings Guidance

Lululemon Athletica (NASDAQ:LULU) updated its third quarter 2024 earnings guidance on Friday. The company provided EPS guidance of 2.680-2.730 for the period, compared to the consensus EPS estimate of 2.700. The company issued revenue guidance of $2.3 billion-$2.4 billion, compared to the consensus revenue estimate of $2.4 billion.

Lululemon Athletica Price Performance

NASDAQ LULU traded down $2.23 during trading hours on Friday, reaching $256.78. 5,172,083 shares of the stock traded hands, compared to its average volume of 2,122,692. The stock has a 50 day simple moving average of $273.65 and a two-hundred day simple moving average of $341.85. Lululemon Athletica has a 1 year low of $226.01 and a 1 year high of $516.39. The company has a market cap of $32.10 billion, a price-to-earnings ratio of 20.66, a price-to-earnings-growth ratio of 1.25 and a beta of 1.26.

Lululemon Athletica (NASDAQ:LULU) last announced its quarterly earnings data on Thursday, August 29th. The apparel retailer reported $3.15 EPS for the quarter, beating the consensus estimate of $2.92 by $0.23. The firm had revenue of $2.40 billion for the quarter, compared to analyst estimates of $2.41 billion. Lululemon Athletica had a return on equity of 42.64% and a net margin of 16.09%. The company’s revenue was up 9.1% on a year-over-year basis. During the same period in the prior year, the company earned $2.68 EPS. On average, sell-side analysts forecast that Lululemon Athletica will post 14.22 EPS for the current fiscal year.

Lululemon Athletica announced that its Board of Directors has authorized a stock repurchase plan on Wednesday, June 5th that authorizes the company to buyback $1.00 billion in shares. This buyback authorization authorizes the apparel retailer to purchase up to 2.5% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s board of directors believes its stock is undervalued.

Analysts Set New Price Targets

LULU has been the subject of several analyst reports. Wells Fargo & Company dropped their price objective on Lululemon Athletica from $350.00 to $285.00 and set an equal weight rating for the company in a report on Friday, August 23rd. Citigroup dropped their price objective on Lululemon Athletica from $300.00 to $270.00 and set a neutral rating for the company in a report on Thursday, August 22nd. BTIG Research initiated coverage on Lululemon Athletica in a research note on Wednesday, May 8th. They issued a buy rating and a $425.00 target price for the company. Raymond James lowered their target price on Lululemon Athletica from $400.00 to $350.00 and set an outperform rating for the company in a research note on Tuesday. Finally, Deutsche Bank Aktiengesellschaft restated a hold rating and issued a $357.00 target price on shares of Lululemon Athletica in a research note on Thursday, June 13th. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating and twenty-one have assigned a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of Moderate Buy and an average target price of $372.52.

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.