DA Davidson Comments on Sally Beauty Holdings, Inc.’s Q1 2018 Earnings (SBH)
Sally Beauty Holdings, Inc. (NYSE:SBH) – Analysts at DA Davidson cut their Q1 2018 earnings per share (EPS) estimates for Sally Beauty Holdings in a research note issued on Thursday. DA Davidson analyst L. Weiser now forecasts that the specialty retailer will earn $0.41 per share for the quarter, down from their previous forecast of $0.45. DA Davidson currently has a “Neutral” rating on the stock. DA Davidson also issued estimates for Sally Beauty Holdings’ Q2 2018 earnings at $0.48 EPS, Q3 2018 earnings at $0.53 EPS, Q4 2018 earnings at $0.48 EPS, FY2018 earnings at $1.90 EPS and FY2019 earnings at $2.05 EPS.
Sally Beauty Holdings (NYSE:SBH) last announced its quarterly earnings data on Wednesday, November 15th. The specialty retailer reported $0.45 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.47 by ($0.02). The company had revenue of $974.20 million for the quarter, compared to analysts’ expectations of $989.96 million. Sally Beauty Holdings had a negative return on equity of 80.60% and a net margin of 5.89%. The company’s revenue was down .2% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.41 earnings per share.
Several other research analysts have also weighed in on SBH. Buckingham Research cut their price objective on shares of Sally Beauty Holdings from $21.00 to $16.00 and set a “neutral” rating on the stock in a report on Thursday. Zacks Investment Research lowered shares of Sally Beauty Holdings from a “hold” rating to a “sell” rating in a report on Saturday. Morgan Stanley cut their price target on shares of Sally Beauty Holdings from $15.00 to $14.00 and set an “underweight” rating on the stock in a report on Thursday. BidaskClub upgraded shares of Sally Beauty Holdings from a “sell” rating to a “hold” rating in a report on Wednesday, August 9th. Finally, Wells Fargo & Company restated a “market perform” rating and issued a $20.00 price target (down previously from $21.50) on shares of Sally Beauty Holdings in a report on Wednesday, August 9th. Three investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and two have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $19.27.
Sally Beauty Holdings (NYSE SBH) opened at $15.44 on Friday. The firm has a market cap of $2,058.63, a PE ratio of 8.90, a PEG ratio of 1.43 and a beta of 0.66. Sally Beauty Holdings has a 1-year low of $14.05 and a 1-year high of $27.71. The company has a current ratio of 2.18, a quick ratio of 0.43 and a debt-to-equity ratio of -5.07.
Several hedge funds have recently added to or reduced their stakes in the company. Janus Henderson Group PLC acquired a new stake in shares of Sally Beauty Holdings during the second quarter worth approximately $179,760,000. Nordea Investment Management AB grew its position in shares of Sally Beauty Holdings by 1.9% during the third quarter. Nordea Investment Management AB now owns 6,169,915 shares of the specialty retailer’s stock worth $120,807,000 after buying an additional 112,801 shares in the last quarter. Fuller & Thaler Asset Management Inc. grew its position in shares of Sally Beauty Holdings by 10.1% during the third quarter. Fuller & Thaler Asset Management Inc. now owns 5,666,809 shares of the specialty retailer’s stock worth $110,956,000 after buying an additional 518,520 shares in the last quarter. State Street Corp grew its position in shares of Sally Beauty Holdings by 0.4% during the second quarter. State Street Corp now owns 4,039,329 shares of the specialty retailer’s stock worth $81,789,000 after buying an additional 14,768 shares in the last quarter. Finally, Kayne Anderson Rudnick Investment Management LLC grew its position in shares of Sally Beauty Holdings by 3.5% during the third quarter. Kayne Anderson Rudnick Investment Management LLC now owns 2,565,526 shares of the specialty retailer’s stock worth $50,233,000 after buying an additional 85,660 shares in the last quarter.
In other news, Director Edward W. Rabin acquired 4,250 shares of the stock in a transaction on Monday, August 21st. The stock was bought 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 of the company’s stock, valued at $300,753.18. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Christian A. Brickman acquired 20,000 shares of the stock in a transaction on Wednesday, August 23rd. The stock was purchased at an average cost of $17.54 per share, with a total value of $350,800.00. Following the transaction, the chief executive officer now directly owns 182,543 shares of the company’s stock, valued at $3,201,804.22. The disclosure for this purchase can be found here. 0.97% of the stock is owned by company insiders.
Sally Beauty Holdings announced that its board has authorized a share repurchase program on Thursday, August 31st that authorizes the company to buyback $1.00 billion in shares. This buyback authorization authorizes the specialty retailer to buy up to 40.7% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s management believes its shares are undervalued.
About Sally Beauty Holdings
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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