Telsey Advisory Group Analysts Reduce Earnings Estimates for Leslie’s, Inc. (NASDAQ:LESL)

Posted by on Jun 9th, 2022

Leslie’s, Inc. (NASDAQ:LESL – Get Rating) – Equities research analysts at Telsey Advisory Group decreased their Q3 2022 earnings estimates for Leslie’s in a research note issued on Tuesday, June 7th. Telsey Advisory Group analyst D. Telsey now forecasts that the company will earn $0.74 per share for the quarter, down from their previous forecast of $0.81. Telsey Advisory Group currently has a “Outperform” rating and a $28.00 target price on the stock. Telsey Advisory Group also issued estimates for Leslie’s’ FY2022 earnings at $1.00 EPS and FY2023 earnings at $1.13 EPS.

Leslie’s (NASDAQ:LESL – Get Rating) last posted its quarterly earnings data on Thursday, May 5th. The company reported ($0.01) EPS for the quarter, beating analysts’ consensus estimates of ($0.02) by $0.01. The business had revenue of $228.07 million during the quarter, compared to analysts’ expectations of $211.32 million. Leslie’s had a negative return on equity of 69.02% and a net margin of 9.97%. The business’s revenue was up 18.5% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.02) earnings per share.

Other analysts have also issued reports about the company. Robert W. Baird lowered their price target on Leslie’s from $28.00 to $25.00 in a research note on Friday, May 6th. The Goldman Sachs Group raised Leslie’s from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $26.00 to $27.00 in a research note on Monday, April 4th. Finally, Zacks Investment Research raised Leslie’s from a “sell” rating to a “hold” rating and set a $19.00 price target on the stock in a research note on Friday, May 13th. One analyst has rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Buy” and a consensus target price of $29.55.

Leslie’s stock opened at $18.91 on Thursday. The stock has a market capitalization of $3.46 billion, a PE ratio of 26.26, a price-to-earnings-growth ratio of 1.47 and a beta of 0.55. Leslie’s has a 12 month low of $16.40 and a 12 month high of $30.00. The business has a 50 day simple moving average of $19.61 and a 200-day simple moving average of $20.61.

In other news, insider Moyo Labode sold 4,696 shares of the company’s stock in a transaction on Thursday, May 12th. The stock was sold at an average price of $17.48, for a total value of $82,086.08. Following the transaction, the insider now owns 11,554 shares of the company’s stock, valued at approximately $201,963.92. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 3.60% of the company’s stock.

Several hedge funds have recently bought and sold shares of LESL. Spire Wealth Management purchased a new stake in Leslie’s during the 4th quarter worth about $29,000. Captrust Financial Advisors increased its holdings in shares of Leslie’s by 325.3% in the 3rd quarter. Captrust Financial Advisors now owns 4,253 shares of the company’s stock valued at $87,000 after acquiring an additional 3,253 shares during the last quarter. Allworth Financial LP purchased a new position in shares of Leslie’s in the 1st quarter valued at about $97,000. Point72 Hong Kong Ltd purchased a new position in shares of Leslie’s in the 1st quarter valued at about $112,000. Finally, Islay Capital Management LLC acquired a new stake in shares of Leslie’s in the 4th quarter valued at about $138,000.

Leslie’s Company Profile (Get Rating)

Leslie's, Inc operates as a direct-to-consumer pool and spa care brand in the United States. The company markets and sells pool and spa supplies and related products and services. It offers pool chemicals consisting of chlorine, sanitizers, water balancers, specialty chemicals, and algae control; pool covers, including winter, solar and safety covers, leaf nets, cover reels, and cover alternatives; pool equipment, which comprise pool cleaners, pool pumps, pool filters, pool heating, and lighting; and pools, such as above ground pools, soft side pools, above ground pools liners and equipment, ladders and rails, and diving boards.

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