B. Riley Analysts Lift Earnings Estimates for Lululemon Athletica inc. (LULU)

Lululemon Athletica inc. (NASDAQ:LULU) – Research analysts at B. Riley upped their Q2 2019 earnings estimates for Lululemon Athletica in a report issued on Wednesday, August 15th. B. Riley analyst S. Anderson now expects that the apparel retailer will post earnings of $0.49 per share for the quarter, up from their previous forecast of $0.47. B. Riley has a “Neutral” rating and a $128.00 price objective on the stock. B. Riley also issued estimates for Lululemon Athletica’s Q4 2019 earnings at $1.51 EPS, FY2019 earnings at $3.18 EPS and FY2020 earnings at $3.65 EPS.

Lululemon Athletica (NASDAQ:LULU) last posted its quarterly earnings results on Thursday, May 31st. The apparel retailer reported $0.55 EPS for the quarter, beating the Zacks’ consensus estimate of $0.46 by $0.09. Lululemon Athletica had a net margin of 10.89% and a return on equity of 25.46%. The company had revenue of $649.70 million during the quarter, compared to analyst estimates of $616.69 million. During the same period in the prior year, the business posted $0.32 EPS. The firm’s revenue was up 24.9% compared to the same quarter last year.

Several other research analysts have also commented on the stock. Bank of America restated a “buy” rating and issued a $106.00 price objective on shares of Lululemon Athletica in a report on Tuesday, April 24th. BidaskClub upgraded shares of Lululemon Athletica from a “buy” rating to a “strong-buy” rating in a report on Friday, April 27th. Oppenheimer upped their price objective on shares of Lululemon Athletica from $90.00 to $115.00 and gave the stock an “outperform” rating in a report on Tuesday, May 29th. Morgan Stanley upped their price objective on shares of Lululemon Athletica from $85.00 to $108.00 and gave the stock an “equal weight” rating in a report on Monday, June 4th. Finally, SunTrust Banks upped their price objective on shares of Lululemon Athletica from $47.00 to $114.00 and gave the stock a “buy” rating in a report on Monday, May 21st. They noted that the move was a valuation call. Eighteen investment analysts have rated the stock with a hold rating, twenty have given a buy rating and one has given a strong buy rating to the company. The stock presently has an average rating of “Buy” and an average target price of $109.17.

NASDAQ:LULU opened at $129.47 on Thursday. Lululemon Athletica has a 52 week low of $56.56 and a 52 week high of $131.88. The firm has a market cap of $17.71 billion, a P/E ratio of 49.99, a PEG ratio of 2.58 and a beta of -0.03.

Several institutional investors have recently modified their holdings of the stock. BlackRock Inc. increased its stake in shares of Lululemon Athletica by 19.3% in the 2nd quarter. BlackRock Inc. now owns 6,030,449 shares of the apparel retailer’s stock worth $752,900,000 after acquiring an additional 974,511 shares in the last quarter. Laurion Capital Management LP increased its stake in shares of Lululemon Athletica by 6,457.1% in the 2nd quarter. Laurion Capital Management LP now owns 1,606,478 shares of the apparel retailer’s stock worth $200,569,000 after acquiring an additional 1,581,978 shares in the last quarter. Artisan Partners Limited Partnership bought a new position in shares of Lululemon Athletica in the 2nd quarter worth about $130,068,000. Wells Fargo & Company MN increased its stake in shares of Lululemon Athletica by 91.0% in the 2nd quarter. Wells Fargo & Company MN now owns 1,000,498 shares of the apparel retailer’s stock worth $124,912,000 after acquiring an additional 476,803 shares in the last quarter. Finally, BNP Paribas Arbitrage SA increased its stake in shares of Lululemon Athletica by 10,743.2% in the 2nd quarter. BNP Paribas Arbitrage SA now owns 858,676 shares of the apparel retailer’s stock worth $107,206,000 after acquiring an additional 850,757 shares in the last quarter. Institutional investors own 82.31% of the company’s stock.

In related news, major shareholder International Corp/Ma Advent sold 10,000,000 shares of the stock in a transaction dated Thursday, June 7th. The shares were sold at an average price of $121.00, for a total value of $1,210,000,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director David M. Mussafer sold 17,935 shares of the stock in a transaction dated Thursday, June 7th. The stock was sold at an average price of $121.00, for a total transaction of $2,170,135.00. Following the completion of the transaction, the director now owns 18,202 shares of the company’s stock, valued at $2,202,442. The disclosure for this sale can be found here. 0.32% of the stock is owned by company insiders.

Lululemon Athletica Company Profile

lululemon athletica inc., an athletic apparel company, 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 and Estimates for Lululemon Athletica (NASDAQ:LULU)

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