Sally Beauty Holdings, Inc. (NYSE:SBH – Get Rating) – Research analysts at Oppenheimer reduced their Q3 2022 earnings per share (EPS) estimates for shares of Sally Beauty in a report released on Thursday, August 4th. Oppenheimer analyst R. Parikh now forecasts that the specialty retailer will post earnings per share of $0.55 for the quarter, down from their prior estimate of $0.60. Oppenheimer currently has a “Market Perform” rating on the stock. The consensus estimate for Sally Beauty’s current full-year earnings is $2.29 per share. Oppenheimer also issued estimates for Sally Beauty’s FY2022 earnings at $2.14 EPS and FY2023 earnings at $2.20 EPS.
Sally Beauty (NYSE:SBH – Get Rating) last issued its quarterly earnings results on Thursday, August 4th. The specialty retailer reported $0.55 EPS for the quarter, missing analysts’ consensus estimates of $0.59 by ($0.04). Sally Beauty had a return on equity of 104.07% and a net margin of 6.66%. The firm had revenue of $961.47 million for the quarter, compared to analyst estimates of $950.97 million. During the same period in the prior year, the firm posted $0.68 EPS. The business’s revenue was down 6.0% compared to the same quarter last year.
SBH has been the subject of several other research reports. Cowen cut their price target on Sally Beauty from $30.00 to $20.00 in a research note on Friday, May 6th. Morgan Stanley lowered Sally Beauty from an “equal weight” rating to an “underweight” rating and cut their price target for the company from $19.00 to $12.00 in a research note on Thursday, June 16th. TheStreet lowered Sally Beauty from a “b-” rating to a “c+” rating in a research note on Thursday, June 23rd. Raymond James lowered Sally Beauty from a “market perform” rating to an “underperform” rating in a research note on Wednesday, June 29th. Finally, Cowen cut their price objective on Sally Beauty from $30.00 to $20.00 in a research note on Friday, May 6th. Two investment analysts have rated the stock with a sell rating and two have issued a hold rating to the company. Based on data from MarketBeat.com, Sally Beauty presently has an average rating of “Hold” and an average target price of $18.70.
Sally Beauty Stock Performance
Shares of SBH stock opened at $13.74 on Friday. The stock has a market cap of $1.47 billion, a PE ratio of 6.05 and a beta of 1.38. The business has a 50-day simple moving average of $13.19 and a 200-day simple moving average of $15.20. The company has a quick ratio of 0.59, a current ratio of 2.27 and a debt-to-equity ratio of 5.08. Sally Beauty has a 52-week low of $11.28 and a 52-week high of $21.86.
Institutional Inflows and Outflows
Hedge funds have recently modified their holdings of the business. Landscape Capital Management L.L.C. purchased a new stake in Sally Beauty in the 2nd quarter worth approximately $1,303,000. M&T Bank Corp increased its position in shares of Sally Beauty by 107.0% in the 2nd quarter. M&T Bank Corp now owns 132,819 shares of the specialty retailer’s stock worth $1,583,000 after purchasing an additional 68,642 shares during the last quarter. Assetmark Inc. increased its position in shares of Sally Beauty by 146.0% in the 2nd quarter. Assetmark Inc. now owns 2,423 shares of the specialty retailer’s stock worth $29,000 after purchasing an additional 1,438 shares during the last quarter. First Horizon Advisors Inc. grew its position in shares of Sally Beauty by 1,882.3% during the 2nd quarter. First Horizon Advisors Inc. now owns 2,458 shares of the specialty retailer’s stock valued at $29,000 after buying an additional 2,334 shares during the last quarter. Finally, Counterpoint Mutual Funds LLC grew its position in Sally Beauty by 94.3% in the 2nd quarter. Counterpoint Mutual Funds LLC now owns 8,265 shares of the specialty retailer’s stock worth $99,000 after purchasing an additional 4,011 shares during the last quarter.
Sally Beauty Company Profile
Sally Beauty Holdings, Inc operates as a specialty retailer and distributor of professional beauty supplies. The company operates through two segments, Sally Beauty Supply and Beauty Systems Group. The Sally Beauty Supply segment offers beauty products, including hair color and care products, skin and nail care products, styling tools, and other beauty products for retail customers, salons, and salon professionals.
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