Sally Beauty Holdings, Inc. (NYSE:SBH – Get Rating) – Stock analysts at Oppenheimer reduced their Q3 2022 earnings per share estimates for shares of Sally Beauty in a research report issued on Thursday, May 5th. Oppenheimer analyst R. Parikh now forecasts that the specialty retailer will earn $0.66 per share for the quarter, down from their prior estimate of $0.75. Oppenheimer currently has a “Market Perform” rating on the stock. Oppenheimer also issued estimates for Sally Beauty’s Q4 2022 earnings at $0.56 EPS and FY2022 earnings at $2.32 EPS.
Sally Beauty (NYSE:SBH – Get Rating) last released its earnings results on Thursday, May 5th. The specialty retailer reported $0.47 earnings per share for the quarter, missing analysts’ consensus estimates of $0.51 by ($0.04). The business had revenue of $911.40 million during the quarter, compared to analysts’ expectations of $951.20 million. Sally Beauty had a return on equity of 104.07% and a net margin of 6.66%. The firm’s quarterly revenue was down 1.6% compared to the same quarter last year. During the same period in the prior year, the company earned $0.57 earnings per share.
Other equities analysts also recently issued research reports about the stock. StockNews.com started coverage on shares of Sally Beauty in a report on Thursday, March 31st. They issued a “buy” rating on the stock. DA Davidson lowered their price target on shares of Sally Beauty from $22.00 to $19.50 in a report on Friday, February 4th. Cowen lowered their price target on shares of Sally Beauty from $30.00 to $20.00 in a report on Friday. Finally, Cowen lowered their target price on shares of Sally Beauty from $30.00 to $20.00 in a report on Friday. Four research analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of “Buy” and a consensus target price of $21.42.
Shares of SBH stock opened at $15.05 on Monday. The company has a 50 day moving average price of $16.15 and a 200-day moving average price of $17.61. Sally Beauty has a 52 week low of $14.28 and a 52 week high of $25.66. The firm has a market capitalization of $1.70 billion, a PE ratio of 6.63 and a beta of 1.34. The company has a quick ratio of 0.60, a current ratio of 2.27 and a debt-to-equity ratio of 5.08.
Several hedge funds have recently added to or reduced their stakes in SBH. Fisher Asset Management LLC lifted its position in shares of Sally Beauty by 97.2% during the fourth quarter. Fisher Asset Management LLC now owns 3,629,631 shares of the specialty retailer’s stock valued at $67,003,000 after buying an additional 1,789,399 shares during the last quarter. Norges Bank acquired a new position in Sally Beauty in the 4th quarter worth approximately $18,587,000. Millennium Management LLC increased its holdings in Sally Beauty by 302.9% in the 3rd quarter. Millennium Management LLC now owns 763,107 shares of the specialty retailer’s stock worth $12,858,000 after buying an additional 573,719 shares during the period. Arrowstreet Capital Limited Partnership increased its holdings in Sally Beauty by 33.3% in the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 1,773,613 shares of the specialty retailer’s stock worth $29,885,000 after buying an additional 443,239 shares during the period. Finally, ArrowMark Colorado Holdings LLC grew its stake in shares of Sally Beauty by 2.9% during the 3rd quarter. ArrowMark Colorado Holdings LLC now owns 15,406,794 shares of the specialty retailer’s stock worth $259,604,000 after purchasing an additional 432,093 shares during the period.
About Sally Beauty (Get Rating)
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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