Ulta Salon, Cosmetics & Fragrance, Inc. (NASDAQ:ULTA) Over Priced
Ulta Salon, Cosmetics & Fragrance, Inc. (NASDAQ:ULTA) trading at 40 times earnings and near a 52 week high looks like it is headed for it’s own fiscal cliff.
Ulta Salon, Cosmetics & Fragrance announced its earnings results on Thursday, November 29th. The company reported $0.59 earnings per share (EPS) for the quarter. The company had revenue of $505.60 million for the quarter. During the same quarter in 2011, the company posted $0.42 earnings per share. The company’s quarterly revenue was up 22.4% on a year-over-year basis. Analysts expect that Ulta Salon, Cosmetics & Fragrance, Inc. (ULTA) will post $2.61 EPS for the current fiscal year.
Ulta issued an update on its fourth quarter earnings guidance on Thursday morning. The company provided earnings per share guidance of $0.96-0.98 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $0.97. The company issued revenue guidance of $742-754 million, compared to the consensus revenue estimate of $746.83 million.
I do seem to be alone on this one, Robert W. Baird reiterated an outperform rating on shares of Ulta Salon, Cosmetics & Fragrance and has a $120.00 price target on the stock, Piper Jaffray raised their price target on shares of Ulta Salon, Cosmetics & Fragrance from $116.00 to $118.00 and Oppenheimer raised their price target on shares of Ulta Salon, Cosmetics & Fragrance from $103.00 to $112.00.
My target is lower, I think we will see $80 in early 2013 if not before.
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Heffernan Capital Management
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Shayne Heffernan Ph.D.
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Shayne Heffernan oversees the management of funds for institutions and high net worth individuals. He is also an active consultant working with Corporations around the World.
He is recognized as one of the leading Economists in South East Asia, as well as the preeminent authority on ASEAN. His opinions and forecasts are widely read by decision makers in the region and Internationally.
Shayne Heffernan holds a Ph.D. in Economics and brings with him over 25 years of trading experience in Asia and hands on experience in Venture Capital, he has been involved in several start ups that have seen market capitalization over $500m and 1 that reached a peak of $15b. He has managed and overseen start ups in Mining, Shipping, Technology and Financial Services.
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