Zacks: Brokerages Anticipate lululemon athletica inc. (LULU) Will Post Quarterly Sales of $567.59 Million
Wall Street brokerages expect lululemon athletica inc. (NASDAQ:LULU) to announce $567.59 million in sales for the current fiscal quarter, Zacks reports. Twelve analysts have provided estimates for lululemon athletica inc.’s earnings, with estimates ranging from $565.70 million to $569.12 million. lululemon athletica inc. posted sales of $514.52 million during the same quarter last year, which suggests a positive year-over-year growth rate of 10.3%. The business is scheduled to report its next earnings results on Thursday, September 7th.
On average, analysts expect that lululemon athletica inc. will report full year sales of $567.59 million for the current fiscal year, with estimates ranging from $2.54 billion to $2.58 billion. For the next financial year, analysts anticipate that the company will post sales of $2.82 billion per share, with estimates ranging from $2.73 billion to $2.95 billion. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research analysts that cover lululemon athletica inc..
lululemon athletica inc. (NASDAQ:LULU) last announced its quarterly earnings data on Thursday, June 1st. The apparel retailer reported $0.32 EPS for the quarter, topping the Zacks’ consensus estimate of $0.28 by $0.04. The firm had revenue of $520.30 million during the quarter, compared to analyst estimates of $513.99 million. lululemon athletica inc. had a return on equity of 23.43% and a net margin of 12.21%. The company’s revenue was up 5.0% on a year-over-year basis. During the same period last year, the company earned $0.33 earnings per share.
Several research firms have commented on LULU. UBS AG reiterated a “neutral” rating and issued a $54.00 target price (down from $57.00) on shares of lululemon athletica inc. in a research report on Tuesday, May 30th. BMO Capital Markets set a $55.00 target price on lululemon athletica inc. and gave the company a “hold” rating in a research report on Tuesday. Barclays PLC set a $85.00 target price on lululemon athletica inc. and gave the company a “buy” rating in a research report on Saturday, June 3rd. Oppenheimer Holdings, Inc. set a $65.00 target price on lululemon athletica inc. and gave the company a “buy” rating in a research report on Saturday, June 3rd. Finally, Stifel Nicolaus cut lululemon athletica inc. from a “buy” rating to a “hold” rating and increased their price target for the company from $60.00 to $66.00 in a research note on Tuesday, July 25th. They noted that the move was a valuation call. Four equities research analysts have rated the stock with a sell rating, sixteen have issued a hold rating and twenty-one have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $64.80.
In other news, Director Glenn Murphy bought 97,728 shares of the firm’s stock in a transaction on Monday, June 26th. The stock was acquired at an average cost of $55.50 per share, with a total value of $5,423,904.00. Following the completion of the transaction, the director now directly owns 100,344 shares of the company’s stock, valued at approximately $5,569,092. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 0.29% of the company’s stock.
A number of hedge funds have recently added to or reduced their stakes in LULU. Teachers Advisors LLC increased its stake in lululemon athletica inc. by 45.7% in the fourth quarter. Teachers Advisors LLC now owns 122,551 shares of the apparel retailer’s stock worth $7,965,000 after buying an additional 38,418 shares in the last quarter. Gulf International Bank UK Ltd increased its stake in lululemon athletica inc. by 2.3% in the first quarter. Gulf International Bank UK Ltd now owns 35,127 shares of the apparel retailer’s stock worth $1,822,000 after buying an additional 780 shares in the last quarter. Bank of Montreal Can increased its stake in lululemon athletica inc. by 6.7% in the first quarter. Bank of Montreal Can now owns 14,425 shares of the apparel retailer’s stock worth $748,000 after buying an additional 902 shares in the last quarter. Winslow Asset Management Inc. purchased a new stake in lululemon athletica inc. during the first quarter worth about $2,782,000. Finally, Prospera Financial Services Inc purchased a new stake in lululemon athletica inc. during the first quarter worth about $210,000. 80.15% of the stock is owned by institutional investors and hedge funds.
Shares of lululemon athletica inc. (NASDAQ:LULU) opened at 61.89 on Thursday. The company has a 50-day moving average price of $58.80 and a 200-day moving average price of $58.53. The firm has a market capitalization of $8.46 billion, a price-to-earnings ratio of 29.32 and a beta of 0.25. lululemon athletica inc. has a 12 month low of $47.26 and a 12 month high of $81.81.
About lululemon athletica inc.
lululemon athletica inc. is a designer, distributor and retailer of athletic apparel. The Company operates through two segments: Company-operated stores and Direct to consumer. It is also engaged in the sale from outlets, showrooms, sales from temporary locations, sales to wholesale accounts, warehouse sales, and license and supply arrangements.
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