Oppenheimer Brokers Raise Earnings Estimates for Lululemon Athletica inc. (LULU)

Lululemon Athletica inc. (NASDAQ:LULU) – Oppenheimer lifted their FY2019 earnings estimates for Lululemon Athletica in a report issued on Friday, February 8th. Oppenheimer analyst B. Nagel now anticipates that the apparel retailer will post earnings per share of $3.75 for the year, up from their prior forecast of $3.71. Oppenheimer also issued estimates for Lululemon Athletica’s Q4 2019 earnings at $1.74 EPS, Q1 2020 earnings at $0.71 EPS, Q2 2020 earnings at $0.92 EPS, Q4 2020 earnings at $1.99 EPS and FY2020 earnings at $4.48 EPS.

Lululemon Athletica (NASDAQ:LULU) last posted its quarterly earnings results on Thursday, December 6th. The apparel retailer reported $0.75 EPS for the quarter, beating the consensus estimate of $0.69 by $0.06. The business had revenue of $747.70 million during the quarter, compared to analysts’ expectations of $736.10 million. Lululemon Athletica had a return on equity of 30.28% and a net margin of 12.63%. The company’s quarterly revenue was up 20.8% compared to the same quarter last year. During the same period last year, the firm earned $0.56 EPS.

Several other analysts have also recently commented on LULU. Canaccord Genuity raised Lululemon Athletica from a “hold” rating to a “buy” rating and raised their price target for the company from $152.00 to $160.00 in a report on Wednesday, October 24th. BidaskClub cut Lululemon Athletica from a “buy” rating to a “hold” rating in a report on Tuesday, November 20th. ValuEngine cut Lululemon Athletica from a “strong-buy” rating to a “buy” rating in a report on Wednesday, November 21st. MKM Partners raised their price target on Lululemon Athletica from $174.00 to $177.00 and gave the company a “buy” rating in a report on Monday, December 3rd. Finally, Wolfe Research raised their price target on Lululemon Athletica from $174.00 to $176.00 and gave the company an “outperform” rating in a report on Monday, December 3rd. Seven equities research analysts have rated the stock with a hold rating, twenty-seven have given a buy rating and one has issued a strong buy rating to the company. Lululemon Athletica has an average rating of “Buy” and an average target price of $159.78.

LULU opened at $157.32 on Monday. The company has a market capitalization of $19.83 billion, a PE ratio of 60.74, a price-to-earnings-growth ratio of 1.75 and a beta of 0.55. Lululemon Athletica has a 12 month low of $76.60 and a 12 month high of $164.79.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in LULU. Schroder Investment Management Group acquired a new position in shares of Lululemon Athletica in the second quarter worth $1,417,000. United Services Automobile Association raised its holdings in shares of Lululemon Athletica by 32.5% in the second quarter. United Services Automobile Association now owns 26,744 shares of the apparel retailer’s stock worth $3,339,000 after acquiring an additional 6,553 shares during the last quarter. Atria Investments LLC acquired a new position in shares of Lululemon Athletica in the third quarter worth $794,000. DNB Asset Management AS acquired a new position in shares of Lululemon Athletica in the third quarter worth $1,793,000. Finally, Bank of Montreal Can raised its holdings in shares of Lululemon Athletica by 2.4% in the third quarter. Bank of Montreal Can now owns 77,248 shares of the apparel retailer’s stock worth $12,551,000 after acquiring an additional 1,827 shares during the last quarter. 81.48% of the stock is owned by institutional investors.

In other news, major shareholder Dennis J. Wilson sold 847,000 shares of the business’s stock in a transaction on Wednesday, January 9th. The stock was sold at an average price of $136.53, for a total value of $115,640,910.00. Following the completion of the transaction, the insider now directly owns 3,852 shares of the company’s stock, valued at $525,913.56. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, major shareholder Dennis J. Wilson sold 1,379,000 shares of the business’s stock in a transaction on Wednesday, January 30th. The stock was sold at an average price of $145.00, for a total value of $199,955,000.00. Following the completion of the transaction, the insider now directly owns 3,852 shares of the company’s stock, valued at $558,540. The disclosure for this sale can be found here. Over the last three months, insiders sold 2,914,928 shares of company stock valued at $414,622,960. Insiders own 0.32% of the company’s stock.

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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