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

Ulta Beauty (NASDAQ:ULTA) issued an update on its FY 2024 earnings guidance on Friday 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 23.340. The company issued revenue guidance of $11.0 billion-$11.2 billion, compared to the consensus revenue estimate of $11.2 billion.

Ulta Beauty Trading Down 0.8 %

Ulta Beauty stock opened at $368.92 on Monday. The firm has a market capitalization of $17.38 billion, a price-to-earnings ratio of 14.80, a P/E/G ratio of 2.12 and a beta of 1.32. Ulta Beauty has a 1-year low of $318.17 and a 1-year high of $574.76. The firm has a 50 day simple moving average of $373.91 and a 200 day simple moving average of $386.02.

Ulta Beauty (NASDAQ:ULTA) last posted its earnings results on Thursday, August 29th. The specialty retailer reported $5.30 earnings per share (EPS) for the quarter, missing the consensus estimate of $5.47 by ($0.17). The firm 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 54.02% and a net margin of 10.68%. The business’s revenue for the quarter was up .9% compared to the same quarter last year. During the same quarter in the prior year, the company earned $6.02 earnings per share. On average, equities research analysts forecast that Ulta Beauty will post 23.06 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on ULTA shares. UBS Group dropped their price target on Ulta Beauty from $550.00 to $505.00 and set a “buy” rating for the company in a research note on Friday, August 30th. Deutsche Bank Aktiengesellschaft reduced their target price on Ulta Beauty from $426.00 to $424.00 and set a “buy” rating on the stock in a research note on Wednesday, October 9th. Telsey Advisory Group reissued an “outperform” rating and issued a $450.00 price target on shares of Ulta Beauty in a research note on Thursday. DA Davidson lowered their price objective on Ulta Beauty from $507.00 to $435.00 and set a “buy” rating for the company in a research report on Friday, August 30th. Finally, The Goldman Sachs Group dropped their price target on Ulta Beauty from $475.00 to $412.00 and set a “neutral” rating on the stock in a research report on Monday, August 12th. Two analysts have rated the stock with a sell rating, eleven have assigned a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat, Ulta Beauty has a consensus rating of “Hold” and a consensus target price of $423.71.

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.