Lululemon Athletica inc. (NASDAQ:LULU) – Investment analysts at KeyCorp increased their FY2018 EPS estimates for shares of Lululemon Athletica in a research note issued on Wednesday. KeyCorp analyst E. Yruma now expects that the apparel retailer will post earnings of $2.52 per share for the year, up from their prior forecast of $2.48. KeyCorp currently has a “Hold” rating on the stock. KeyCorp also issued estimates for Lululemon Athletica’s Q4 2018 earnings at $1.26 EPS, Q1 2019 earnings at $0.38 EPS, Q3 2019 earnings at $0.65 EPS, Q4 2019 earnings at $1.43 EPS and FY2019 earnings at $2.90 EPS.
A number of other equities research analysts also recently issued reports on the stock. Cowen reissued a “buy” rating and issued a $68.00 price target on shares of Lululemon Athletica in a research note on Friday, November 3rd. Citigroup raised shares of Lululemon Athletica from a “neutral” rating to a “buy” rating and reduced their price target for the company from $61.50 to $60.09 in a research note on Friday, October 20th. SunTrust Banks set a $69.00 price target on shares of Lululemon Athletica and gave the company a “buy” rating in a research note on Monday, October 16th. Needham & Company LLC set a $69.00 price target on shares of Lululemon Athletica and gave the company a “buy” rating in a research note on Monday, October 16th. Finally, Robert W. Baird reissued a “buy” rating and issued a $72.00 price target on shares of Lululemon Athletica in a research note on Wednesday, October 4th. Two equities research analysts have rated the stock with a sell rating, nineteen have given a hold rating, nineteen have given a buy rating and one has issued a strong buy rating to the stock. Lululemon Athletica presently has an average rating of “Hold” and a consensus target price of $72.95.
Lululemon Athletica (NASDAQ:LULU) last issued its earnings results on Wednesday, December 6th. The apparel retailer reported $0.56 EPS for the quarter, topping analysts’ consensus estimates of $0.52 by $0.04. Lululemon Athletica had a net margin of 10.96% and a return on equity of 22.52%. The company had revenue of $619.00 million for the quarter, compared to the consensus estimate of $610.56 million. During the same period in the previous year, the firm earned $0.50 earnings per share. Lululemon Athletica’s quarterly revenue was up 13.7% compared to the same quarter last year.
Lululemon Athletica declared that its board has approved a stock repurchase program on Wednesday, December 6th that permits the company to buyback $200.00 million in shares. This buyback authorization permits the apparel retailer to reacquire shares of its stock through open market purchases. Stock buyback programs are often a sign that the company’s leadership believes its stock is undervalued.
A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Winslow Asset Management Inc. grew its holdings in Lululemon Athletica by 2.3% during the 4th quarter. Winslow Asset Management Inc. now owns 112,202 shares of the apparel retailer’s stock worth $8,818,000 after acquiring an additional 2,570 shares in the last quarter. Jaffetilchin Investment Partners LLC acquired a new position in Lululemon Athletica during the 4th quarter worth approximately $489,000. Piedmont Investment Advisors LLC acquired a new position in Lululemon Athletica during the 3rd quarter worth approximately $1,197,000. California Public Employees Retirement System grew its holdings in Lululemon Athletica by 0.8% during the 3rd quarter. California Public Employees Retirement System now owns 216,882 shares of the apparel retailer’s stock worth $13,501,000 after acquiring an additional 1,782 shares in the last quarter. Finally, Cubist Systematic Strategies LLC grew its holdings in Lululemon Athletica by 152.5% during the 3rd quarter. Cubist Systematic Strategies LLC now owns 19,331 shares of the apparel retailer’s stock worth $1,203,000 after acquiring an additional 11,676 shares in the last quarter. Institutional investors own 79.31% of the company’s stock.
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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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