Lululemon Athletica (NASDAQ:LULU) Releases Quarterly Earnings Results, Beats Estimates By $0.04 EPS

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Lululemon Athletica (NASDAQ:LULU) issued its quarterly earnings data on Wednesday. The apparel retailer reported $0.74 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.70 by $0.04, RTT News reports. Lululemon Athletica had a return on equity of 35.49% and a net margin of 14.71%. The business had revenue of $782.30 million during the quarter, compared to analyst estimates of $755.92 million. During the same period in the previous year, the firm earned $0.55 EPS. Lululemon Athletica’s quarterly revenue was up 20.4% compared to the same quarter last year.

Shares of Lululemon Athletica stock traded down $0.74 on Wednesday, reaching $170.89. 3,748,842 shares of the company were exchanged, compared to its average volume of 2,151,594. Lululemon Athletica has a one year low of $110.71 and a one year high of $179.49. The stock has a market cap of $22.53 billion, a P/E ratio of 44.50, a P/E/G ratio of 2.04 and a beta of 0.60.

A number of equities analysts have weighed in on LULU shares. Nomura reaffirmed a “neutral” rating and set a $157.00 price target (up previously from $140.00) on shares of Lululemon Athletica in a research report on Tuesday, February 19th. They noted that the move was a valuation call. BidaskClub downgraded Lululemon Athletica from a “hold” rating to a “sell” rating in a research report on Friday, March 15th. Wedbush downgraded Lululemon Athletica from an “outperform” rating to a “neutral” rating and reduced their price target for the stock from $176.00 to $155.00 in a research report on Friday, March 22nd. Credit Suisse Group upped their price target on Lululemon Athletica from $172.00 to $190.00 and gave the stock an “outperform” rating in a research report on Thursday, March 28th. Finally, DA Davidson upped their price target on Lululemon Athletica from $146.00 to $155.00 and gave the stock a “neutral” rating in a research report on Thursday, March 28th. Eleven analysts have rated the stock with a hold rating, twenty-two have issued a buy rating and one has given a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and an average target price of $177.70.

In related news, COO Stuart Haselden sold 49,319 shares of the stock in a transaction on Friday, March 29th. The stock was sold at an average price of $164.62, for a total value of $8,118,893.78. Following the sale, the chief operating officer now owns 24,685 shares in the company, valued at approximately $4,063,644.70. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Michelle Sun Choe sold 6,170 shares of the stock in a transaction on Thursday, April 4th. The shares were sold at an average price of $170.92, for a total value of $1,054,576.40. Following the completion of the sale, the insider now owns 11,294 shares in the company, valued at approximately $1,930,370.48. The disclosure for this sale can be found here. In the last quarter, insiders have sold 519,344 shares of company stock worth $79,873,942. Company insiders own 0.32% of the company’s stock.

Lululemon Athletica announced that its Board of Directors has initiated a share repurchase program on Wednesday, March 27th that authorizes the company to buyback $500.00 million in outstanding shares. This buyback authorization authorizes the apparel retailer to reacquire up to 2.6% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s leadership believes its stock is undervalued.

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Lululemon Athletica Company Profile

lululemon athletica inc., together with its subsidiaries, designs, distributes, and retails athletic apparel and accessories for women, men, and female youth. It operates through two segments, Company-Operated Stores and Direct to Consumer. The company offers pants, shorts, tops, and jackets for healthy lifestyle and athletic activities, such as yoga, running, and training, as well as other sweaty pursuits; and athletic wear for female youth.

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Earnings History for Lululemon Athletica (NASDAQ:LULU)

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