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Regis Corp. (NYSE:RGS)‘s stock had its “underperform” rating restated by Zacks in a research report issued to clients and investors on Friday. They currently have a $13.00 target price on the stock. Zacks‘s price objective indicates a potential downside of 5.93% from the company’s current price.

Zacks’ analyst wrote, “Regis Corp.’s fiscal third-quarter 2014 adjusted loss of $0.15 was wider than the Zacks Consensus Estimate of a loss of $0.06 and compared unfavorably with the year-ago earnings of $0.01 per share. Cost savings initiatives and lower marketing costs could not offset the impact of weak same-store sales and an increase in depreciation expenses. Despite beating the consensus mark by 1.2%, revenues of $471.6 million went down 6.0% year over year due to weak same-store sales. Same-store sales declined 5.7% owing to a 6.7% decline in guest count. The company has been witnessing declining comps for the past few years due to a continued fall in guest count. We are concerned that the sluggish comps trend will continue to affect its performance until customer-visit patterns completely rebound. A limited consumer spending environment has also added to the woes. “

Shares of Regis Corp. (NYSE:RGS) traded down 0.51% on Friday, hitting $13.75. 37,707 shares of the company’s stock traded hands. Regis Corp. has a 52 week low of $11.48 and a 52 week high of $17.97. The stock has a 50-day moving average of $13.51 and a 200-day moving average of $13.87. The company’s market cap is $776.5 million.

Regis Corp. (NYSE:RGS) last issued its quarterly earnings data on Wednesday, April 30th. The company reported ($0.15) earnings per share for the quarter, missing the analysts’ consensus estimate of ($0.06) by $0.09. The company had revenue of $471.60 million for the quarter, compared to the consensus estimate of $468.06 million. During the same quarter last year, the company posted $0.01 earnings per share. Regis Corp.’s revenue was down 6.6% compared to the same quarter last year. On average, analysts predict that Regis Corp. will post $-0.12 earnings per share for the current fiscal year.

Regis Corporation business is engaged in owning, operating and franchising hair and retail product salons.

To view Zacks’ full report, visit Zacks’ official website.

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