$990.77 Million in Sales Expected for Sally Beauty Holdings, Inc. (SBH) This Quarter
Wall Street analysts expect Sally Beauty Holdings, Inc. (NYSE:SBH) to announce sales of $990.77 million for the current fiscal quarter, Zacks Investment Research reports. Seven analysts have provided estimates for Sally Beauty Holdings’ earnings, with the lowest sales estimate coming in at $982.70 million and the highest estimate coming in at $998.00 million. Sally Beauty Holdings reported sales of $976.36 million in the same quarter last year, which would suggest a positive year-over-year growth rate of 1.5%. The company is expected to report its next quarterly earnings results on Tuesday, November 21st.
On average, analysts expect that Sally Beauty Holdings will report full-year sales of $990.77 million for the current financial year, with estimates ranging from $3.95 billion to $3.96 billion. For the next fiscal year, analysts anticipate that the company will report sales of $4.02 billion per share, with estimates ranging from $3.99 billion to $4.05 billion. Zacks’ sales calculations are a mean average based on a survey of research firms that follow Sally Beauty Holdings.
Sally Beauty Holdings (NYSE:SBH) last released its quarterly earnings data on Thursday, August 3rd. The specialty retailer reported $0.52 EPS for the quarter, topping the consensus estimate of $0.49 by $0.03. Sally Beauty Holdings had a net margin of 5.89% and a negative return on equity of 80.60%. The business had revenue of $998.04 million for the quarter, compared to analyst estimates of $1 billion. During the same period in the previous year, the firm earned $0.47 EPS. The business’s revenue for the quarter was up .0% compared to the same quarter last year.
A number of equities analysts recently weighed in on the company. Jefferies Group LLC assumed coverage on Sally Beauty Holdings in a research note on Friday, June 2nd. They issued a “hold” rating on the stock. ValuEngine cut Sally Beauty Holdings from a “buy” rating to a “hold” rating in a research note on Friday, June 2nd. BidaskClub raised Sally Beauty Holdings from a “strong sell” rating to a “sell” rating in a research note on Saturday, June 10th. Zacks Investment Research cut Sally Beauty Holdings from a “hold” rating to a “sell” rating in a research note on Thursday, July 6th. Finally, DA Davidson assumed coverage on Sally Beauty Holdings in a research note on Thursday, July 6th. They issued a “neutral” rating and a $23.00 price target on the stock. Two investment analysts have rated the stock with a sell rating, eleven have given a hold rating and three have given a buy rating to the company’s stock. Sally Beauty Holdings has an average rating of “Hold” and an average price target of $24.50.
Sally Beauty Holdings (NYSE SBH) opened at 18.95 on Friday. Sally Beauty Holdings has a 12-month low of $17.26 and a 12-month high of $30.17. The firm has a 50-day moving average of $19.55 and a 200-day moving average of $19.60. The stock has a market capitalization of $2.51 billion, a price-to-earnings ratio of 11.57 and a beta of 0.66.
Sally Beauty Holdings announced that its Board of Directors has approved a share buyback program on Thursday, August 31st that allows the company to buyback $1.00 billion in shares. This buyback authorization allows the specialty retailer to purchase up to 40.7% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s management believes its stock is undervalued.
In other Sally Beauty Holdings news, CEO Christian A. Brickman acquired 10,000 shares of the firm’s stock in a transaction on Friday, August 18th. The stock was purchased at an average cost of $17.90 per share, for a total transaction of $179,000.00. Following the transaction, the chief executive officer now owns 172,543 shares of the company’s stock, valued at approximately $3,088,519.70. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Edward W. Rabin acquired 4,250 shares of the firm’s stock in a transaction on Monday, August 21st. The shares were acquired at an average price of $18.06 per share, with a total value of $76,755.00. Following the completion of the transaction, the director now directly owns 16,653 shares in the company, valued at approximately $300,753.18. The disclosure for this purchase can be found here. Insiders have acquired a total of 34,250 shares of company stock valued at $606,555 over the last 90 days. Corporate insiders own 0.97% of the company’s stock.
A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Burgundy Asset Management Ltd. acquired a new stake in Sally Beauty Holdings during the 2nd quarter worth about $51,787,000. Lord Abbett & CO. LLC acquired a new stake in Sally Beauty Holdings during the 2nd quarter worth about $21,406,000. Scotia Capital Inc. boosted its position in Sally Beauty Holdings by 0.9% during the 2nd quarter. Scotia Capital Inc. now owns 22,550 shares of the specialty retailer’s stock worth $457,000 after acquiring an additional 200 shares during the period. Timucuan Asset Management Inc. FL boosted its position in Sally Beauty Holdings by 31.7% during the 2nd quarter. Timucuan Asset Management Inc. FL now owns 2,037,920 shares of the specialty retailer’s stock worth $41,268,000 after acquiring an additional 490,932 shares during the period. Finally, State Street Corp boosted its position in Sally Beauty Holdings by 0.4% during the 2nd quarter. State Street Corp now owns 4,039,329 shares of the specialty retailer’s stock worth $81,789,000 after acquiring an additional 14,768 shares during the period.
Sally Beauty Holdings Company Profile
Sally Beauty Holdings, Inc is an international specialty retailer and distributor of professional beauty supplies with operations primarily in North America, South America and Europe. The Company operates through two business segments: Sally Beauty Supply and Beauty Systems Group (BSG). Sally Beauty Supply is a domestic and international chain of cash and carry retail stores, which offers professional beauty supplies to both salon professionals and retail customers primarily in North America, Puerto Rico, and parts of Europe and South America.
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