Sally Beauty Holdings, Inc. (NYSE:SBH) to Post FY2024 Earnings of $1.83 Per Share, DA Davidson Forecasts

Sally Beauty Holdings, Inc. (NYSE:SBHFree Report) – Stock analysts at DA Davidson cut their FY2024 earnings per share estimates for Sally Beauty in a report released on Wednesday, February 7th. DA Davidson analyst L. Weiser now forecasts that the specialty retailer will post earnings of $1.83 per share for the year, down from their prior estimate of $1.92. DA Davidson currently has a “Neutral” rating and a $13.00 target price on the stock. The consensus estimate for Sally Beauty’s current full-year earnings is $1.89 per share.

Sally Beauty (NYSE:SBHGet Free Report) last posted its quarterly earnings data on Thursday, February 1st. The specialty retailer reported $0.39 EPS for the quarter, beating the consensus estimate of $0.36 by $0.03. The firm had revenue of $931.30 million during the quarter, compared to the consensus estimate of $929.49 million. Sally Beauty had a return on equity of 37.78% and a net margin of 4.66%. The firm’s revenue was down 2.7% compared to the same quarter last year. During the same period in the prior year, the business earned $0.52 EPS.

Several other equities analysts also recently weighed in on the company. StockNews.com downgraded Sally Beauty from a “buy” rating to a “hold” rating in a research note on Tuesday, November 21st. Morgan Stanley dropped their price objective on Sally Beauty from $10.00 to $8.00 and set an “underweight” rating for the company in a research note on Wednesday, November 15th.

Check Out Our Latest Stock Analysis on Sally Beauty

Sally Beauty Stock Performance

NYSE SBH opened at $12.99 on Friday. The company has a current ratio of 2.20, a quick ratio of 0.45 and a debt-to-equity ratio of 1.97. The business’s 50 day moving average is $12.34 and its two-hundred day moving average is $10.44. Sally Beauty has a 12-month low of $7.21 and a 12-month high of $17.56. The stock has a market capitalization of $1.36 billion, a price-to-earnings ratio of 8.27 and a beta of 1.48.

Hedge Funds Weigh In On Sally Beauty

Hedge funds have recently bought and sold shares of the stock. BlackRock Inc. boosted its holdings in shares of Sally Beauty by 0.7% during the second quarter. BlackRock Inc. now owns 16,913,070 shares of the specialty retailer’s stock worth $208,876,000 after purchasing an additional 113,658 shares during the last quarter. FMR LLC boosted its holdings in shares of Sally Beauty by 3.2% during the third quarter. FMR LLC now owns 16,165,414 shares of the specialty retailer’s stock worth $135,466,000 after purchasing an additional 493,923 shares during the last quarter. Vanguard Group Inc. boosted its holdings in shares of Sally Beauty by 6.0% during the third quarter. Vanguard Group Inc. now owns 13,732,079 shares of the specialty retailer’s stock worth $115,075,000 after purchasing an additional 780,329 shares during the last quarter. Alliancebernstein L.P. boosted its holdings in shares of Sally Beauty by 7.5% during the fourth quarter. Alliancebernstein L.P. now owns 8,610,218 shares of the specialty retailer’s stock worth $107,800,000 after purchasing an additional 597,088 shares during the last quarter. Finally, State Street Corp boosted its holdings in shares of Sally Beauty by 3.6% during the second quarter. State Street Corp now owns 4,529,832 shares of the specialty retailer’s stock worth $55,943,000 after purchasing an additional 159,040 shares during the last quarter.

Insider Activity at Sally Beauty

In related news, CEO Denise Paulonis purchased 4,000 shares of the company’s stock in a transaction on Tuesday, December 12th. The stock was bought at an average price of $11.29 per share, with a total value of $45,160.00. Following the completion of the transaction, the chief executive officer now owns 170,826 shares of the company’s stock, valued at approximately $1,928,625.54. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 1.36% of the stock is currently owned by company insiders.

Sally Beauty Company Profile

(Get Free Report)

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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