SunTrust Banks Weighs in on Lululemon Athletica inc.’s Q1 2019 Earnings (LULU)
Lululemon Athletica inc. (NASDAQ:LULU) – Equities research analysts at SunTrust Banks issued their Q1 2019 earnings estimates for Lululemon Athletica in a note issued to investors on Tuesday. SunTrust Banks analyst P. Quintiliano anticipates that the apparel retailer will post earnings of $0.44 per share for the quarter. SunTrust Banks has a “Buy” rating and a $95.00 price target on the stock. SunTrust Banks also issued estimates for Lululemon Athletica’s Q2 2019 earnings at $0.47 EPS, Q3 2019 earnings at $0.63 EPS and Q4 2019 earnings at $1.50 EPS.
Lululemon Athletica (NASDAQ:LULU) last released its quarterly earnings results on Wednesday, December 6th. The apparel retailer reported $0.56 earnings per share 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 business had revenue of $619.00 million during the quarter, compared to the consensus estimate of $610.56 million. During the same quarter last year, the company earned $0.50 earnings per share. The business’s quarterly revenue was up 13.7% compared to the same quarter last year.
Lululemon Athletica (NASDAQ LULU) traded up $0.48 during mid-day trading on Thursday, hitting $77.15. 2,641,108 shares of the stock were exchanged, compared to its average volume of 1,603,571. Lululemon Athletica has a twelve month low of $47.26 and a twelve month high of $83.31. The firm has a market capitalization of $10,964.34, a P/E ratio of 38.23, a P/E/G ratio of 2.08 and a beta of 0.26.
Lululemon Athletica declared that its Board of Directors has authorized a share buyback program on Wednesday, December 6th that authorizes the company to repurchase $200.00 million in outstanding shares. This repurchase authorization authorizes the apparel retailer to buy shares of its stock through open market purchases. Shares repurchase programs are generally a sign that the company’s management believes its stock is undervalued.
A number of large investors have recently added to or reduced their stakes in the stock. Suntrust Banks Inc. increased its stake in Lululemon Athletica by 5.9% in the 2nd quarter. Suntrust Banks Inc. now owns 4,239 shares of the apparel retailer’s stock worth $252,000 after purchasing an additional 237 shares in the last quarter. Global X Management Co. LLC increased its stake in Lululemon Athletica by 22.4% in the 4th quarter. Global X Management Co. LLC now owns 3,933 shares of the apparel retailer’s stock worth $309,000 after purchasing an additional 719 shares in the last quarter. Scotia Capital Inc. increased its stake in Lululemon Athletica by 23.0% in the 2nd quarter. Scotia Capital Inc. now owns 5,221 shares of the apparel retailer’s stock worth $311,000 after purchasing an additional 978 shares in the last quarter. First Republic Investment Management Inc. increased its stake in Lululemon Athletica by 26.2% in the 3rd quarter. First Republic Investment Management Inc. now owns 5,035 shares of the apparel retailer’s stock worth $313,000 after purchasing an additional 1,046 shares in the last quarter. Finally, Oregon Public Employees Retirement Fund increased its stake in Lululemon Athletica by 7.5% in the 3rd quarter. Oregon Public Employees Retirement Fund now owns 15,390 shares of the apparel retailer’s stock worth $958,000 after purchasing an additional 1,075 shares in the last quarter. 79.70% of the stock is currently owned by hedge funds and other institutional investors.
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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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