Ulta Beauty (NASDAQ:ULTA – Get Free Report) issued an update on its FY 2024 earnings guidance on Saturday morning. The company provided earnings per share guidance of 25.200-26.000 for the period, compared to the consensus earnings per share estimate of 26.330. The company issued revenue guidance of $11.5 billion-$11.6 billion, compared to the consensus revenue estimate of $11.7 billion.
Analysts Set New Price Targets
A number of research firms have recently commented on ULTA. Jefferies Financial Group cut their price target on Ulta Beauty from $438.00 to $412.00 and set a hold rating for the company in a report on Friday, May 24th. Morgan Stanley raised their price target on Ulta Beauty from $480.00 to $525.00 and gave the stock an equal weight rating in a report on Friday, March 15th. Barclays lowered Ulta Beauty from an overweight rating to an equal weight rating and cut their price target for the stock from $612.00 to $434.00 in a report on Monday, April 29th. Deutsche Bank Aktiengesellschaft raised their price target on Ulta Beauty from $574.00 to $627.00 in a report on Friday, March 15th. Finally, UBS Group raised their price target on Ulta Beauty from $575.00 to $690.00 and gave the stock a buy rating in a report on Tuesday, March 5th. One analyst has rated the stock with a sell rating, nine have given a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of Moderate Buy and an average target price of $507.30.
View Our Latest Stock Analysis on Ulta Beauty
Ulta Beauty Price Performance
ULTA stock traded up $5.45 during mid-day trading on Friday, hitting $383.85. 1,348,367 shares of the stock were exchanged, compared to its average volume of 1,006,920. The stock has a market capitalization of $18.32 billion, a price-to-earnings ratio of 14.97, a PEG ratio of 1.65 and a beta of 1.36. The business has a fifty day moving average price of $396.08 and a 200 day moving average price of $466.55. Ulta Beauty has a 12 month low of $368.02 and a 12 month high of $574.76.
Ulta Beauty (NASDAQ:ULTA – Get Free Report) last released its quarterly earnings data on Thursday, May 30th. The specialty retailer reported $6.47 EPS for the quarter, topping the consensus estimate of $6.19 by $0.28. The firm had revenue of $2.73 billion for the quarter, compared to the consensus estimate of $2.72 billion. Ulta Beauty had a return on equity of 58.06% and a net margin of 11.13%. The company’s quarterly revenue was up 3.5% on a year-over-year basis. During the same quarter in the previous year, the business earned $6.88 earnings per share. As a group, equities analysts forecast that Ulta Beauty will post 25.76 EPS for the current fiscal year.
Ulta Beauty declared that its board has approved a stock buyback program on Thursday, March 14th that authorizes the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization authorizes the specialty retailer to buy up to 7.3% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s management believes its shares are undervalued.
About Ulta Beauty
Ulta Beauty, Inc operates as a specialty beauty retailer in the United States. The company offers branded and private label beauty products, including cosmetics, fragrance, haircare, skincare, bath and body products, professional hair products, and salon styling tools through its Ulta Beauty stores, shop-in-shops, Ulta.com website, and its mobile applications.
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