Ulta Beauty (NASDAQ:ULTA) Releases FY 2024 Earnings Guidance

Ulta Beauty (NASDAQ:ULTAGet Free Report) issued an update on its FY 2024 earnings guidance on Saturday morning. The company provided earnings per share (EPS) guidance of 25.200-26.000 for the period, compared to the consensus estimate of 26.330. The company issued revenue guidance of $11.5 billion-$11.6 billion, compared to the consensus revenue estimate of $11.7 billion.

Ulta Beauty Stock Performance

NASDAQ ULTA opened at $383.85 on Monday. Ulta Beauty has a twelve month low of $368.02 and a twelve month high of $574.76. The stock has a market cap of $18.32 billion, a price-to-earnings ratio of 14.97, a PEG ratio of 1.65 and a beta of 1.36. The firm’s 50 day moving average price is $396.08 and its two-hundred day moving average price is $466.25.

Ulta Beauty (NASDAQ:ULTAGet Free Report) last posted its quarterly earnings data on Thursday, May 30th. The specialty retailer reported $6.47 earnings per share for the quarter, topping the consensus estimate of $6.19 by $0.28. Ulta Beauty had a net margin of 11.13% and a return on equity of 58.06%. The firm had revenue of $2.73 billion for the quarter, compared to analysts’ expectations of $2.72 billion. During the same period in the previous year, the company posted $6.88 EPS. The company’s quarterly revenue was up 3.5% compared to the same quarter last year. On average, research analysts forecast that Ulta Beauty will post 25.76 EPS for the current fiscal year.

Ulta Beauty declared that its board has authorized a stock repurchase program on Thursday, March 14th that permits the company to buyback $2.00 billion in outstanding shares. This buyback authorization permits the specialty retailer to repurchase up to 7.3% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s board believes its stock is undervalued.

Analyst Ratings Changes

A number of brokerages have issued reports on ULTA. Wells Fargo & Company decreased their target price on shares of Ulta Beauty from $450.00 to $350.00 and set an underweight rating for the company in a research note on Wednesday, April 24th. Morgan Stanley lifted their target price on shares of Ulta Beauty from $480.00 to $525.00 and gave the company an equal weight rating in a research note on Friday, March 15th. Jefferies Financial Group decreased their target price on shares of Ulta Beauty from $438.00 to $412.00 and set a hold rating for the company in a research note on Friday, May 24th. Bank of America decreased their target price on shares of Ulta Beauty from $575.00 to $425.00 and set a neutral rating for the company in a research note on Tuesday, May 28th. Finally, Oppenheimer decreased their target price on shares of Ulta Beauty from $500.00 to $475.00 and set an outperform rating for the company in a research note on Tuesday, May 7th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of Moderate Buy and a consensus target price of $507.30.

View Our Latest Stock Analysis on Ulta Beauty

About Ulta Beauty

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Ulta Beauty, Inc operates as a specialty beauty retailer in the United States. The company offers branded and private label beauty products, including cosmetics, fragrance, haircare, skincare, bath and body products, professional hair products, and salon styling tools through its Ulta Beauty stores, shop-in-shops, Ulta.com website, and its mobile applications.

See Also

Earnings History and Estimates for Ulta Beauty (NASDAQ:ULTA)

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