Lululemon Athletica (NASDAQ:LULU) Issues Earnings Results

Lululemon Athletica (NASDAQ:LULU) issued its quarterly earnings results on Thursday. The apparel retailer reported $3.15 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.92 by $0.23, RTT News reports. Lululemon Athletica had a return on equity of 42.64% and a net margin of 16.09%. The firm had revenue of $2.40 billion during the quarter, compared to analyst estimates of $2.41 billion. During the same period last year, the company posted $2.68 EPS. The firm’s quarterly revenue was up 9.1% on a year-over-year basis.

Lululemon Athletica Trading Up 0.2 %

Shares of Lululemon Athletica stock opened at $259.47 on Friday. The stock has a market capitalization of $32.43 billion, a price-to-earnings ratio of 20.81, a P/E/G ratio of 1.25 and a beta of 1.26. The firm’s 50-day moving average price is $272.61 and its two-hundred day moving average price is $341.27. Lululemon Athletica has a 1-year low of $226.01 and a 1-year high of $516.39.

Lululemon Athletica declared that its board has approved a share buyback plan on Wednesday, June 5th that permits the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization permits the apparel retailer to purchase up to 2.5% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s leadership believes its shares are undervalued.

Analyst Ratings Changes

A number of research firms recently issued reports on LULU. Deutsche Bank Aktiengesellschaft lifted their target price on Lululemon Athletica from $291.00 to $292.00 and gave the stock a “neutral” rating in a report on Friday. Barclays reduced their target price on shares of Lululemon Athletica from $263.00 to $261.00 and set an “equal weight” rating for the company in a report on Friday. JPMorgan Chase & Co. dropped their price target on Lululemon Athletica from $457.00 to $338.00 and set an “overweight” rating on the stock in a report on Thursday, July 25th. Robert W. Baird reduced their price objective on Lululemon Athletica from $470.00 to $350.00 and set an “outperform” rating for the company in a research note on Wednesday, July 31st. Finally, KeyCorp reduced their target price on Lululemon Athletica from $415.00 to $350.00 and set an “overweight” rating for the company in a report on Friday. Two research analysts have rated the stock with a sell rating, ten have issued a hold rating and twenty-one have issued a buy rating to the company. According to MarketBeat, Lululemon Athletica presently has a consensus rating of “Moderate Buy” and an average price target of $355.84.

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.