Companies and Brands
Why Analysts Are Chasing Lululemon Even Higher
Published:
Last Updated:
When Lululemon Athletica Inc. (NASDAQ: LULU) reported its most recent quarterly results late on Tuesday, overall the yoga apparel manufacturer had a solid report. Analysts have rewarded the firm by hiking their price targets.
24/7 Wall St. has included some brief highlights from the earnings report, as well as what analysts are saying after the fact.
The firm posted $1.33 in earnings per share (EPS) on $928.8 million in revenue. Consensus estimates had called for $1.27 in EPS on revenue of $911.42 million. The same period of last year reportedly had EPS of $1.00 and $789.94 million in revenue.
During the quarter, total comparable sales increased 12%, or increased 11% on a constant dollar basis. Separately, comparable store sales increased 2%, or increased 1% on a constant dollar basis, and direct to consumer net revenue increased 44%, or increased 42%.
Looking ahead to the fiscal first quarter, the firm expects net revenue to be in the range of $612 million to $617 million, based on a total comparable sales increase in the low double digits on a constant dollar basis. Also, EPS is expected to be between $0.44 and $0.46. The consensus estimates call for EPS of $0.40 and $585.9 million in revenue for the quarter.
Here’s what analysts had to say after the announcement:
Shares of Lululemon were last seen up about 10% at $86.80 on Wednesday, with a consensus analyst price target of $84.33 and a 52-week trading range of $47.26 to $87.98.
Are you ready for retirement? Planning for retirement can be overwhelming, that’s why it could be a good idea to speak to a fiduciary financial advisor about your goals today.
Start by taking this retirement quiz right here from SmartAsset that will match you with up to 3 financial advisors that serve your area and beyond in 5 minutes. Smart Asset is now matching over 50,000 people a month.
Click here now to get started.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.