Ulta Beauty (NASDAQ:ULTA – Get Free Report) issued an update on its FY 2024 earnings guidance on Saturday morning. The company provided EPS guidance of 25.200-26.000 for the period, compared to the consensus EPS 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.
Wall Street Analysts Forecast Growth
Several research firms recently commented on ULTA. Deutsche Bank Aktiengesellschaft increased their price target on Ulta Beauty from $574.00 to $627.00 in a report on Friday, March 15th. UBS Group lifted 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. DA Davidson reissued a buy rating and issued a $595.00 price objective on shares of Ulta Beauty in a report on Friday, March 15th. Jefferies Financial Group cut their price objective on shares of Ulta Beauty from $438.00 to $412.00 and set a hold rating for the company in a research report on Friday, May 24th. Finally, Wells Fargo & Company decreased their target price on shares of Ulta Beauty from $450.00 to $350.00 and set an underweight rating on the stock in a report on Wednesday, April 24th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of Moderate Buy and an average price target of $507.30.
View Our Latest Analysis on Ulta Beauty
Ulta Beauty Stock Up 1.4 %
Shares of ULTA opened at $383.85 on Friday. The company has a market cap of $18.32 billion, a P/E ratio of 14.97, a PEG ratio of 1.65 and a beta of 1.36. Ulta Beauty has a fifty-two week low of $368.02 and a fifty-two week high of $574.76. The firm’s 50 day moving average price is $396.08 and its 200 day moving average price is $466.55.
Ulta Beauty (NASDAQ:ULTA – Get Free Report) last posted its quarterly earnings data on Thursday, May 30th. The specialty retailer reported $6.47 earnings per share for the quarter, topping analysts’ consensus estimates of $6.19 by $0.28. The business had revenue of $2.73 billion for the quarter, compared to analyst estimates of $2.72 billion. Ulta Beauty had a return on equity of 58.06% and a net margin of 11.13%. The company’s revenue was up 3.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $6.88 earnings per share. Research analysts forecast that Ulta Beauty will post 25.76 earnings per share for the current year.
Ulta Beauty announced that its board has initiated a stock buyback program on Thursday, March 14th that permits the company to buyback $2.00 billion in shares. This buyback authorization permits the specialty retailer to repurchase up to 7.3% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s management believes its shares are undervalued.
Ulta Beauty Company Profile
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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