Lululemon Athletica (NASDAQ:LULU) Releases FY 2024 Earnings Guidance

Lululemon Athletica (NASDAQ:LULU) updated its FY 2024 earnings guidance on Thursday. The company provided earnings per share guidance of 14.080-14.160 for the period, compared to the consensus earnings per share estimate of 14.020. The company issued revenue guidance of $10.5 billion-$10.5 billion, compared to the consensus revenue estimate of $10.4 billion. Lululemon Athletica also updated its Q4 guidance to $5.56-$5.64 EPS.

Lululemon Athletica Stock Performance

Shares of LULU stock traded up $2.54 on Thursday, hitting $344.81. The stock had a trading volume of 4,350,702 shares, compared to its average volume of 2,085,386. The firm has a market capitalization of $42.34 billion, a price-to-earnings ratio of 26.44, a P/E/G ratio of 2.49 and a beta of 1.23. The stock’s 50 day moving average is $301.88 and its 200-day moving average is $287.41. Lululemon Athletica has a 52-week low of $226.01 and a 52-week high of $516.39.

Lululemon Athletica (NASDAQ:LULU) last posted its quarterly earnings results on Thursday, December 5th. The apparel retailer reported $2.87 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.69 by $0.18. The firm had revenue of $2.40 billion for the quarter, compared to analysts’ expectations of $2.36 billion. Lululemon Athletica had a net margin of 16.34% and a return on equity of 42.59%. The firm’s quarterly revenue was up 9.1% on a year-over-year basis. During the same period in the prior year, the company posted $2.53 earnings per share. Equities analysts expect that Lululemon Athletica will post 13.94 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of analysts have commented on the stock. KeyCorp reduced their price objective on shares of Lululemon Athletica from $415.00 to $350.00 and set an “overweight” rating for the company in a research note on Friday, August 30th. Oppenheimer lowered their price objective on shares of Lululemon Athletica from $445.00 to $380.00 and set an “outperform” rating on the stock in a research note on Wednesday, November 27th. Piper Sandler raised their price objective on shares of Lululemon Athletica from $250.00 to $260.00 and gave the stock a “neutral” rating in a research note on Friday, August 30th. Guggenheim lowered their price objective on shares of Lululemon Athletica from $525.00 to $350.00 and set a “buy” rating on the stock in a research note on Friday, August 30th. Finally, Evercore ISI raised their price objective on shares of Lululemon Athletica from $300.00 to $355.00 and gave the stock an “outperform” rating in a research note on Monday. Two investment analysts have rated the stock with a sell rating, ten have given a hold rating and nineteen have issued a buy rating to the company. Based on data from MarketBeat, Lululemon Athletica presently has a consensus rating of “Moderate Buy” and an average price target of $359.56.

Insider Transactions at Lululemon Athletica

In related news, insider Nicole Neuburger sold 486 shares of the firm’s stock in a transaction dated Thursday, September 26th. The shares were sold at an average price of $269.59, for a total value of $131,020.74. Following the transaction, the insider now owns 6,198 shares of the company’s stock, valued at approximately $1,670,918.82. This trade represents a 7.27 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.48% of the company’s stock.

About Lululemon Athletica

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.