Lululemon Athletica inc. (NASDAQ:LULU) – Research analysts at SunTrust Banks boosted their FY2018 earnings estimates for shares of Lululemon Athletica in a research report issued on Monday, Zacks Investment Research reports. SunTrust Banks analyst P. Quintiliano now anticipates that the apparel retailer will earn $2.53 per share for the year, up from their previous forecast of $2.48. SunTrust Banks has a “Buy” rating and a $90.00 price objective on the stock. SunTrust Banks also issued estimates for Lululemon Athletica’s Q4 2018 earnings at $1.27 EPS and FY2019 earnings at $2.96 EPS.
Lululemon Athletica (NASDAQ:LULU) last announced its earnings results on Wednesday, December 6th. The apparel retailer reported $0.56 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.52 by $0.04. The firm had revenue of $619.00 million during the quarter, compared to analyst estimates of $610.56 million. Lululemon Athletica had a net margin of 10.96% and a return on equity of 22.52%. The company’s revenue for the quarter was up 13.7% compared to the same quarter last year. During the same period in the prior year, the business earned $0.50 EPS.
Shares of Lululemon Athletica (NASDAQ:LULU) traded down $2.14 during midday trading on Wednesday, reaching $76.70. 1,525,800 shares of the company were exchanged, compared to its average volume of 1,681,160. The firm has a market cap of $10,570.00, a price-to-earnings ratio of 38.16, a PEG ratio of 2.43 and a beta of 0.19. Lululemon Athletica has a 12-month low of $47.26 and a 12-month high of $81.92.
Several hedge funds have recently added to or reduced their stakes in the company. Bank of Montreal Can raised its stake in shares of Lululemon Athletica by 11.6% during the fourth quarter. Bank of Montreal Can now owns 34,246 shares of the apparel retailer’s stock valued at $2,691,000 after acquiring an additional 3,550 shares during the last quarter. Winslow Asset Management Inc. raised its stake in shares of Lululemon Athletica by 2.3% during the fourth quarter. Winslow Asset Management Inc. now owns 112,202 shares of the apparel retailer’s stock valued at $8,818,000 after acquiring an additional 2,570 shares during the last quarter. Jaffetilchin Investment Partners LLC bought a new position in shares of Lululemon Athletica during the fourth quarter valued at $489,000. Piedmont Investment Advisors LLC bought a new position in shares of Lululemon Athletica during the third quarter valued at $1,197,000. Finally, California Public Employees Retirement System raised its stake in shares of Lululemon Athletica by 0.8% during the third quarter. California Public Employees Retirement System now owns 216,882 shares of the apparel retailer’s stock valued at $13,501,000 after acquiring an additional 1,782 shares during the last quarter. 79.42% of the stock is owned by hedge funds and other institutional investors.
Lululemon Athletica declared that its board has initiated a stock buyback plan on Wednesday, December 6th that allows the company to buyback $200.00 million in shares. This buyback authorization allows the apparel retailer to reacquire shares of its stock through open market purchases. Shares buyback plans are typically a sign that the company’s board believes its shares are undervalued.
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About Lululemon Athletica
lululemon athletica inc. is a designer, distributor and retailer of athletic apparel. The Company operates through two segments: Company-operated stores and Direct to consumer. It is also engaged in the sale from outlets, showrooms, sales from temporary locations, sales to wholesale accounts, warehouse sales, and license and supply arrangements.
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