Ulta Beauty (NASDAQ:ULTA) Updates FY 2024 Earnings Guidance

by · The Cerbat Gem

Ulta Beauty (NASDAQ:ULTA – Get Free Report) issued an update on its FY 2024 earnings guidance on Friday morning. The company provided EPS guidance of 22.600-23.500 for the period, compared to the consensus EPS estimate of 23.340. The company issued revenue guidance of $11.0 billion-$11.2 billion, compared to the consensus revenue estimate of $11.2 billion.

Wall Street Analysts Forecast Growth

ULTA has been the subject of a number of research analyst reports. Raymond James cut their price target on Ulta Beauty from $450.00 to $440.00 and set an “outperform” rating for the company in a report on Monday, October 14th. Piper Sandler raised their price target on Ulta Beauty from $356.00 to $357.00 and gave the stock a “neutral” rating in a research report on Thursday. Canaccord Genuity Group decreased their price objective on shares of Ulta Beauty from $522.00 to $500.00 and set a “buy” rating for the company in a report on Tuesday, August 27th. StockNews.com raised Ulta Beauty from a “sell” rating to a “hold” rating in a research note on Saturday, September 28th. Finally, Oppenheimer reissued an “outperform” rating and set a $435.00 price objective on shares of Ulta Beauty in a research report on Wednesday. Two investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat.com, Ulta Beauty has an average rating of “Hold” and an average target price of $423.71.

View Our Latest Report on Ulta Beauty

Ulta Beauty Stock Down 0.8 %

ULTA opened at $368.92 on Friday. Ulta Beauty has a twelve month low of $318.17 and a twelve month high of $574.76. The stock has a market capitalization of $17.60 billion, a price-to-earnings ratio of 14.39, a P/E/G ratio of 2.12 and a beta of 1.32. The company has a 50-day simple moving average of $373.91 and a 200 day simple moving average of $386.40.

Ulta Beauty (NASDAQ:ULTA – Get Free Report) last released its quarterly earnings data on Thursday, August 29th. The specialty retailer reported $5.30 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $5.47 by ($0.17). Ulta Beauty had a return on equity of 54.02% and a net margin of 10.68%. The company had revenue of $2.55 billion for the quarter, compared to analyst estimates of $2.61 billion. During the same quarter in the prior year, the company earned $6.02 earnings per share. Ulta Beauty’s revenue for the quarter was up .9% compared to the same quarter last year. Sell-side analysts anticipate that Ulta Beauty will post 23.1 EPS for the current fiscal year.

About Ulta Beauty

(Get Free Report)

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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