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

Ulta Beauty (NASDAQ:ULTA) issued an update on its FY 2024 earnings guidance on Saturday morning. The company provided EPS guidance of 23.200-23.750 for the period, compared to the consensus EPS estimate of 23.160. The company issued revenue guidance of $11.1 billion-$11.2 billion, compared to the consensus revenue estimate of $11.2 billion.

Ulta Beauty Trading Up 9.0 %

Shares of ULTA stock traded up $35.30 during trading hours on Friday, reaching $428.17. 3,515,724 shares of the company’s stock were exchanged, compared to its average volume of 943,953. The company has a market cap of $20.18 billion, a price-to-earnings ratio of 17.13, a P/E/G ratio of 2.30 and a beta of 1.32. Ulta Beauty has a fifty-two week low of $318.17 and a fifty-two week high of $574.76. The stock’s 50 day moving average is $373.67 and its 200-day moving average is $376.39.

Ulta Beauty (NASDAQ:ULTA) last issued its quarterly earnings results on Thursday, December 5th. The specialty retailer reported $5.14 earnings per share for the quarter, topping the consensus estimate of $4.45 by $0.69. The business had revenue of $2.53 billion during the quarter, compared to the consensus estimate of $2.50 billion. Ulta Beauty had a return on equity of 54.02% and a net margin of 10.68%. The company’s quarterly revenue was up 1.7% on a year-over-year basis. During the same quarter last year, the company earned $5.07 earnings per share. Equities analysts anticipate that Ulta Beauty will post 23.07 EPS for the current year.

Analyst Ratings Changes

Several equities analysts recently issued reports on ULTA shares. B. Riley upped their target price on Ulta Beauty from $300.00 to $330.00 and gave the company a “sell” rating in a research report on Friday. Canaccord Genuity Group boosted their target price on shares of Ulta Beauty from $442.00 to $476.00 and gave the company a “buy” rating in a research note on Tuesday. Bank of America dropped their price target on shares of Ulta Beauty from $425.00 to $380.00 and set a “neutral” rating on the stock in a research report on Friday, August 30th. Evercore ISI dropped their price target on Ulta Beauty from $500.00 to $430.00 and set an “outperform” rating for the company in a research report on Monday, August 26th. Finally, DA Davidson raised their price objective on Ulta Beauty from $435.00 to $510.00 and gave the company a “buy” rating in a report on Friday. Two research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $438.00.

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.