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

Lululemon Athletica (NASDAQ:LULU) issued an update on its third quarter 2024 earnings guidance on Friday morning. The company provided earnings per share guidance of 2.680-2.730 for the period, compared to the consensus earnings per share 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 Price Performance

Shares of LULU opened at $259.47 on Friday. The company has a market capitalization of $32.43 billion, a P/E ratio of 20.81, a PEG ratio of 1.40 and a beta of 1.26. Lululemon Athletica has a one year low of $226.01 and a one year high of $516.39. The business’s 50 day simple moving average is $271.56 and its 200-day simple moving average is $339.02.

Lululemon Athletica (NASDAQ:LULU) last announced its earnings results on Thursday, August 29th. The apparel retailer reported $3.15 EPS for the quarter, topping the consensus estimate of $2.93 by $0.22. The business had revenue of $2.40 billion for the quarter, compared to the consensus estimate of $2.41 billion. Lululemon Athletica had a return on equity of 42.69% and a net margin of 16.34%. Lululemon Athletica’s revenue was up 9.1% compared to the same quarter last year. During the same period in the previous year, the business earned $2.68 EPS. On average, sell-side analysts anticipate that Lululemon Athletica will post 13.9 EPS for the current fiscal year.

Lululemon Athletica declared that its board has initiated a stock repurchase program on Wednesday, June 5th that permits the company to buyback $1.00 billion in outstanding shares. This buyback authorization permits the apparel retailer to buy up to 2.5% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s board believes its shares are undervalued.

Wall Street Analyst Weigh In

Several analysts have commented on LULU shares. Sanford C. Bernstein dropped their target price on shares of Lululemon Athletica from $345.00 to $325.00 and set a market perform rating for the company in a research report on Friday. Guggenheim dropped their target price on shares of Lululemon Athletica from $525.00 to $350.00 and set a buy rating for the company in a research report on Friday. Bank of America dropped their target price on shares of Lululemon Athletica from $440.00 to $355.00 and set a buy rating for the company in a research report on Friday. Wedbush dropped their target price on shares of Lululemon Athletica from $400.00 to $324.00 and set an outperform rating for the company in a research report on Wednesday. Finally, 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. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating and twenty-one have given a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of Moderate Buy and a consensus target price 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.