Shares of Ulta Salon, Cosmetics & Fragrance, Inc. (ULTA - Free Report) gained over 10% in morning trading Thursday after the company raised its profit and sales outlook for the current quarter. Ulta now expects earnings to come in at $1.35 to $1.38 per share, up from its previously-announced range of $1.25 to $1.30 per share.
The company also raised its same-store sales growth expectations. Ulta believes it will sees comps growth of 14% to 15% this quarter, up from 11% to 13%. Additionally, the cosmetics retailer announced that it expects earnings growth to be in the “low twenties” for the next three fiscal years.
Currently, Ulta holds a Zacks Rank #2 (Buy) and the Zacks Consensus Estimate stands at $1.30 per share, meaning that Ulta’s new forecast could push analysts to move their estimates even higher. Ulta’s projected “low twenties” earnings growth for next year is in line with our current consensus estimates.
Ulta’s latest growth projections should be no surprise for investors following the stock; the company currently has an “A” grade for Growth in our Style Scores system, and it has been one of the strongest retail stocks of 2016. Heading into Thursday, shares of Ulta were up nearly 28% on the year.
You are invited to download the full, up-to-the-minute list of 220 Zacks Rank #1 "Strong Buys" free of charge. Many of these companies are almost unheard of by the general public and just starting to get noticed by Wall Street. They have been pinpointed by the Zacks system that nearly tripled the market from 1988 through 2015 with a stellar average gain of +26% per year. See these high-potential stocks free >>
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
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Shares of Ulta Salon, Cosmetics & Fragrance, Inc. (ULTA - Free Report) gained over 10% in morning trading Thursday after the company raised its profit and sales outlook for the current quarter. Ulta now expects earnings to come in at $1.35 to $1.38 per share, up from its previously-announced range of $1.25 to $1.30 per share.
The company also raised its same-store sales growth expectations. Ulta believes it will sees comps growth of 14% to 15% this quarter, up from 11% to 13%. Additionally, the cosmetics retailer announced that it expects earnings growth to be in the “low twenties” for the next three fiscal years.
Currently, Ulta holds a Zacks Rank #2 (Buy) and the Zacks Consensus Estimate stands at $1.30 per share, meaning that Ulta’s new forecast could push analysts to move their estimates even higher. Ulta’s projected “low twenties” earnings growth for next year is in line with our current consensus estimates.
Ulta’s latest growth projections should be no surprise for investors following the stock; the company currently has an “A” grade for Growth in our Style Scores system, and it has been one of the strongest retail stocks of 2016. Heading into Thursday, shares of Ulta were up nearly 28% on the year.
You are invited to download the full, up-to-the-minute list of 220 Zacks Rank #1 "Strong Buys" free of charge. Many of these companies are almost unheard of by the general public and just starting to get noticed by Wall Street. They have been pinpointed by the Zacks system that nearly tripled the market from 1988 through 2015 with a stellar average gain of +26% per year. See these high-potential stocks free >>
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
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