Benzinga
Published Mar 15, 2024 12:10
Updated Mar 15, 2024 13:40
These Analysts Boost Their Forecasts On Ulta Beauty Following Q4 Results
Benzinga - by Avi Kapoor, Benzinga Staff Writer.
Ulta Beauty Inc (NASDAQ: ULTA) reported upbeat earnings for its fourth quarter on Thursday.
Ulta Beauty said fourth-quarter revenue increased 10.2% year-over-year to $3.55 billion, which beat the consensus estimate of $3.53 billion. The specialty beauty retailer reported quarterly earnings of $8.08 per share, which beat analyst estimates of 7.53 per share, according to Benzinga Pro.
“We closed out a strong 2023 with better-than-expected fourth quarter financial performance. Our compelling holiday plans and thoughtfully curated assortment resonated with our guests and delivered healthy traffic, record brand awareness, and strong member growth,” said Dave Kimbell, CEO of Ulta Beauty. “We enter 2024 well-positioned to drive strong top and bottom-line growth, build on our foundational capabilities, and unlock further advantages of our differentiated model.”
Ulta Beauty expects fiscal year 2024 revenue to be between $11.7 billion and $11.8 billion versus estimates of $11.14 billion, according to Benzinga Pro. The company sees fiscal year 2024 earnings in the range of $26.20 to $27 per share versus estimates of $25.49 per share.
Ulta Beauty shares fell 6.7% to $527.40 in pre-market trading.
These analysts made changes to their price targets on Ulta Beauty following earnings announcement.
Now Read This: Hibbett Earnings Are Imminent; These Most Accurate Analysts Revise Forecasts Ahead Of Earnings Call
Latest Ratings for ULTA
Mar 2022 | Deutsche Bank | Maintains | Buy | |
Mar 2022 | BMO Capital | Maintains | Market Perform | |
Jan 2022 | Raymond James | Maintains | Outperform |
View the Latest Analyst Ratings
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Read the original article on Benzinga
Written By: Benzinga
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.