Shares of Ulta Salon, Cosmetics & Fragrance, Inc. ULTA rose more than 3 percent on Wednesday, ahead of its first-quarter financial results, scheduled for Thursday afternoon.
The company guided an 18 percent year-over-year earnings growth rate to $0.91 per share, compared to $0.77 reported in the same quarter last year. In the revenue front, management also expects to see growth of approximately 18 percent, to $840 million.
Wall Street analysts, for their part, anticipate results below guidance. Estimize publicized that consensus points towards $0.86 per share, on revenue of $799.27 million.
Meanwhile, the crowd is the most bullish, projecting earnings of $0.94 per share on revenue of $841.79 million.
It should be noted, however, that Ulta Salon has a history of reporting earnings above both guidance and estimates. So, a beat in this quarter could come as no surprise.
What Wall Street Thinks
Several major Wall Street research firms have weighed in on Ulta Salon recently. On Wednesday, Buckingham Research initiated coverage on the stock with a Buy rating and a $182 price target.
Last month, Nomura upgraded the shares to Buy and issued a $177 price target, while Piper Jaffray boosted its rating to Overweight and Evercore Partners assumed coverage with a Buy.
Other firms that also rated Ulta Salon as an Overweight case this year are JPMorgan and KeyBanc. Finally, in March, Cleveland Research gave the stock a Buy and a $165 price target.
The stock currently trades just shy of $155.
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