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

Ulta Beauty (NASDAQ:ULTA) issued an update on its FY 2024 earnings guidance on Thursday morning. The company provided earnings per share guidance of 22.600-23.500 for the period, compared to the consensus earnings per share estimate of 25.280. The company issued revenue guidance of $11.0 billion-$11.2 billion, compared to the consensus revenue estimate of $11.5 billion. Ulta Beauty also updated its FY25 guidance to $22.60-23.50 EPS.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on ULTA. Robert W. Baird cut their target price on Ulta Beauty from $525.00 to $485.00 and set an outperform rating on the stock in a research note on Friday, August 23rd. Canaccord Genuity Group reduced their price objective on shares of Ulta Beauty from $522.00 to $500.00 and set a buy rating for the company in a research note on Tuesday. JPMorgan Chase & Co. raised their target price on shares of Ulta Beauty from $530.00 to $544.00 and gave the company an overweight rating in a research note on Friday, May 31st. Wells Fargo & Company reduced their price target on Ulta Beauty from $325.00 to $300.00 and set an underweight rating on the stock in a research report on Friday. Finally, Piper Sandler reissued a neutral rating and issued a $356.00 price objective (down previously from $404.00) on shares of Ulta Beauty in a research report on Friday. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and thirteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of Moderate Buy and a consensus target price of $445.09.

Ulta Beauty Price Performance

NASDAQ:ULTA traded down $10.48 during mid-day trading on Friday, hitting $357.10. The company’s stock had a trading volume of 2,473,169 shares, compared to its average volume of 902,805. The business’s fifty day moving average is $373.05 and its two-hundred day moving average is $427.73. The stock has a market cap of $17.04 billion, a price-to-earnings ratio of 13.93, a PEG ratio of 1.75 and a beta of 1.37. Ulta Beauty has a 1 year low of $318.17 and a 1 year high of $574.76.

Ulta Beauty (NASDAQ:ULTA) last issued its earnings results on Thursday, August 29th. The specialty retailer reported $5.30 EPS for the quarter, missing analysts’ consensus estimates of $5.47 by ($0.17). The company had revenue of $2.55 billion during the quarter, compared to analysts’ expectations of $2.61 billion. Ulta Beauty had a return on equity of 58.06% and a net margin of 11.13%. The firm’s quarterly revenue was up .9% compared to the same quarter last year. During the same quarter in the previous year, the company earned $6.02 EPS. Analysts anticipate that Ulta Beauty will post 25.48 EPS for the current fiscal year.

Insider Activity

In related news, Director Catherine Ann Halligan sold 100 shares of the stock in a transaction on Tuesday, July 2nd. The shares were sold at an average price of $390.08, for a total transaction of $39,008.00. Following the sale, the director now directly owns 2,017 shares of the company’s stock, valued at $786,791.36. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other news, insider Jodi J. Caro sold 650 shares of the stock in a transaction that occurred on Tuesday, June 25th. The stock was sold at an average price of $388.68, for a total transaction of $252,642.00. Following the transaction, the insider now owns 6,801 shares in the company, valued at approximately $2,643,412.68. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Catherine Ann Halligan sold 100 shares of the business’s stock in a transaction on Tuesday, July 2nd. The stock was sold at an average price of $390.08, for a total transaction of $39,008.00. Following the completion of the sale, the director now directly owns 2,017 shares of the company’s stock, valued at approximately $786,791.36. The disclosure for this sale can be found here. Insiders own 0.39% of the company’s stock.

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.