{"id":116668,"date":"2021-03-12T15:38:00","date_gmt":"2021-03-12T15:38:00","guid":{"rendered":"https:\/\/precoinnews.com\/?p=116668"},"modified":"2021-03-12T15:38:00","modified_gmt":"2021-03-12T15:38:00","slug":"stock-alert-ulta-beauty-trading-down-11","status":"publish","type":"post","link":"https:\/\/precoinnews.com\/bitcoin\/stock-alert-ulta-beauty-trading-down-11\/","title":{"rendered":"Stock Alert: Ulta Beauty Trading Down 11%"},"content":{"rendered":"
Shares of beauty retailer Ulta Beauty, Inc. (ULTA) are down more than 11% Friday morning.<\/p>\n
In a statement, the company said, it named Dave Kimbell, current president, as Chief Executive Officer, to succeed Mary Dillon.<\/p>\n
Separately, the company announced better-than-expected fourth-quarter results.<\/p>\n
Quarterly net income was $171.5 million or $3.03 per share compared to $222.7 million or $3.89 per share in the same period a year ago.<\/p>\n
Excluding items, adjusted earnings were $3.41, that beat the average estimate of analysts surveyed by Thomson Reuters at $2.35 per share. Analysts’ estimates typically exclude special items.<\/p>\n
Net sales decreased 4.6% to $2.2 billion compared to $2.3 billion in the fourth quarter of last year due to the impact of Covid-19.<\/p>\n
For fiscal year 2021, the company expects to report earnings in the range of $8.85 per share to $9.30 per share and revenues to be in the range of $7.2 billion and $7.3 billion. Analysts expect the company to report earnings of $10.61 per share on revenue of $7.32 billion for the period.<\/p>\n
ULTA, currently at $307.18, has been trading in the range of $124.05- $351 in the last one year. <\/p>\n