Lululemon Athletica Inc. (NASDAQ:LULU) is in the spotlight Thursday ahead of second quarter earnings today after the market closes.
What To Know: Analysts estimate earnings per share of $2.88 and revenue of $2.54 billion. The company previously guided net revenue of between $2.53 billion and $2.56 billion.
In the company’s first quarter, it reported earnings per share of $2.60, beating the consensus estimate of $2.58. In addition, Lululemon reported revenue of $2.37 billion, beating the consensus estimate of $2.36 billion.
The company has a strong history of beating the consensus estimate for both revenue and earnings per share in recent quarters.
Analyst Changes: Ahead of the earnings report, multiple analysts issued price target adjustments.
- Needham analyst Tom Nikic maintained a Buy rating on Lululemon and lowered the price target from $317 to $238.
- Citigroup analyst Paul Lejuez maintained a Neutral rating on Lululemon and lowered the price target from $270 to $220.
- BTIG analyst Janine Stichter maintained a Buy rating on Lululemon and lowered the price target from $405 to $375.
- B of A Securities analyst Lorraine Hutchinson maintained a Buy rating on Lululemon and lowered the price target from $370 to $300.
- Morgan Stanley analyst Alexandra Steiger maintained an Equal-Weight rating on Lululemon and lowered the price target from $280 to $223.
The consensus price target for Lululemon is $303.98, with the lowest price target at $200.00 and the highest price target at $500.00.
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LULU Price Action: At the time of publication, Lululemon stock is trading 2.36% higher at $203.22, according to data from Benzinga Pro.
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