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

Lululemon Athletica (NASDAQ:LULU) issued an update on its third quarter 2024 earnings guidance on Friday morning. 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 Trading Up 0.2 %

Shares of LULU opened at $259.47 on Monday. The business’s 50 day moving average is $271.56 and its 200 day moving average is $338.17. Lululemon Athletica has a 12-month low of $226.01 and a 12-month high of $516.39. The company has a market capitalization of $32.43 billion, a PE ratio of 20.81, a price-to-earnings-growth ratio of 1.40 and a beta of 1.26.

Lululemon Athletica (NASDAQ:LULU) last released its quarterly earnings data on Thursday, August 29th. The apparel retailer reported $3.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.93 by $0.22. The firm had revenue of $2.40 billion for the quarter, compared to analysts’ expectations of $2.41 billion. Lululemon Athletica had a net margin of 16.34% and a return on equity of 42.69%. The company’s revenue for the quarter was up 9.1% compared to the same quarter last year. During the same quarter last year, the business posted $2.68 earnings per share. Equities research analysts predict that Lululemon Athletica will post 13.9 earnings per share for the current year.

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

Analyst Upgrades and Downgrades

LULU has been the topic of several recent research reports. Piper Sandler upped their target price on shares of Lululemon Athletica from $250.00 to $260.00 and gave the company a neutral rating in a research report on Friday. Sanford C. Bernstein lowered their price objective on Lululemon Athletica from $345.00 to $325.00 and set a market perform rating for the company in a research note on Friday. TD Securities boosted their target price on Lululemon Athletica from $375.00 to $382.00 and gave the company a buy rating in a research report on Friday. KeyCorp lowered their price target on Lululemon Athletica from $415.00 to $350.00 and set an overweight rating for the company in a research report on Friday. Finally, Stifel Nicolaus cut their price objective on shares of Lululemon Athletica from $416.00 to $370.00 and set a buy rating on the stock in a research report on Thursday, August 22nd. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating and twenty-one have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of Moderate Buy and an average price target of $355.74.

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.