Ulta Beauty (NASDAQ:ULTA) Releases FY23 Earnings Guidance

Ulta Beauty (NASDAQ:ULTA – Get Rating) issued an update on its FY23 earnings guidance on Thursday morning. The company provided earnings per share (EPS) guidance of $19.20-20.10 for the period, compared to the consensus estimate of $18.60. The company issued revenue guidance of $9.35-9.55 billion, compared to the consensus revenue estimate of $9.16 billion.Ulta Beauty also updated its FY 2022 guidance to $19.20-$20.10 EPS.

NASDAQ:ULTA traded up $47.12 during midday trading on Friday, reaching $425.08. 2,760,539 shares of the company traded hands, compared to its average volume of 753,504. Ulta Beauty has a twelve month low of $319.05 and a twelve month high of $438.63. The company has a fifty day moving average price of $393.85 and a 200 day moving average price of $386.72. The firm has a market capitalization of $22.20 billion, a price-to-earnings ratio of 23.15, a price-to-earnings-growth ratio of 1.84 and a beta of 1.54.

Ulta Beauty (NASDAQ:ULTA – Get Rating) last announced its quarterly earnings results on Thursday, May 26th. The specialty retailer reported $6.30 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.46 by $1.84. Ulta Beauty had a return on equity of 54.42% and a net margin of 11.42%. The company had revenue of $2.35 billion during the quarter, compared to analyst estimates of $2.12 billion. During the same quarter in the previous year, the firm posted $4.10 EPS. The firm’s quarterly revenue was up 21.0% on a year-over-year basis. On average, sell-side analysts predict that Ulta Beauty will post 18.58 earnings per share for the current year.

A number of brokerages have recently weighed in on ULTA. JPMorgan Chase & Co. lifted their price target on Ulta Beauty from $460.00 to $480.00 in a report on Friday. Barclays increased their price target on Ulta Beauty from $440.00 to $469.00 and gave the stock an overweight rating in a research report on Monday, March 14th. Deutsche Bank Aktiengesellschaft dropped their target price on Ulta Beauty from $522.00 to $466.00 in a research report on Wednesday. Zacks Investment Research upgraded Ulta Beauty from a hold rating to a buy rating and set a $450.00 price objective for the company in a research report on Wednesday, April 20th. Finally, Credit Suisse Group boosted their price objective on Ulta Beauty from $455.00 to $475.00 and gave the stock an outperform rating in a report on Friday. Eight research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of Buy and a consensus target price of $454.95.

In other Ulta Beauty news, insider Jodi J. Caro sold 5,340 shares of the company’s stock in a transaction that occurred on Wednesday, March 16th. The stock was sold at an average price of $384.54, for a total transaction of $2,053,443.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 3.10% of the company’s stock.

Institutional investors have recently made changes to their positions in the company. Parkside Financial Bank & Trust increased its position in Ulta Beauty by 59.1% during the 1st quarter. Parkside Financial Bank & Trust now owns 70 shares of the specialty retailer’s stock worth $28,000 after buying an additional 26 shares during the period. KB Financial Partners LLC bought a new position in Ulta Beauty during the 4th quarter worth $55,000. Salem Investment Counselors Inc. increased its position in Ulta Beauty by 12.9% during the 4th quarter. Salem Investment Counselors Inc. now owns 263 shares of the specialty retailer’s stock worth $108,000 after buying an additional 30 shares during the period. Covestor Ltd grew its holdings in shares of Ulta Beauty by 115.9% during the 1st quarter. Covestor Ltd now owns 393 shares of the specialty retailer’s stock worth $157,000 after purchasing an additional 211 shares in the last quarter. Finally, Forum Financial Management LP acquired a new stake in shares of Ulta Beauty during the 4th quarter worth $239,000. Institutional investors own 89.20% of the company’s stock.

Ulta Beauty Company Profile (Get Rating)

Ulta Beauty, Inc operates as a retailer of beauty products in the United States. The company's stores offer cosmetics, fragrances, skincare and haircare products, bath and body products, and salon styling tools; professional hair products; salon services, including hair, skin, makeup, and brow services; and nail services.

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