Sally Beauty (NYSE:SBH) Releases Earnings Results, Misses Expectations By $0.04 EPS

Sally Beauty (NYSE:SBH – Get Rating) released its earnings results on Thursday. The specialty retailer reported $0.55 EPS for the quarter, missing analysts’ consensus estimates of $0.59 by ($0.04), Briefing.com reports. Sally Beauty had a return on equity of 90.85% and a net margin of 5.99%. The firm had revenue of $961.47 million for the quarter, compared to analyst estimates of $950.97 million. During the same period last year, the firm earned $0.68 EPS. The company’s revenue for the quarter was down 6.0% compared to the same quarter last year. Sally Beauty updated its FY 2022 guidance to EPS.

Sally Beauty Price Performance

Shares of Sally Beauty stock traded up $0.14 on Friday, reaching $13.74. The company’s stock had a trading volume of 1,195,757 shares, compared to its average volume of 1,160,752. The company has a market capitalization of $1.47 billion, a P/E ratio of 6.74 and a beta of 1.38. Sally Beauty has a 52-week low of $11.28 and a 52-week high of $21.86. The stock has a 50-day moving average price of $13.19 and a 200-day moving average price of $15.20. The company has a quick ratio of 0.59, a current ratio of 1.60 and a debt-to-equity ratio of 3.66.

Institutional Trading of Sally Beauty

Institutional investors and hedge funds have recently made changes to their positions in the business. Captrust Financial Advisors increased its position in shares of Sally Beauty by 34.2% during the first quarter. Captrust Financial Advisors now owns 5,036 shares of the specialty retailer’s stock worth $79,000 after purchasing an additional 1,282 shares in the last quarter. Royal Bank of Canada increased its position in shares of Sally Beauty by 18.3% during the first quarter. Royal Bank of Canada now owns 7,037 shares of the specialty retailer’s stock worth $110,000 after purchasing an additional 1,091 shares in the last quarter. Ergoteles LLC purchased a new stake in shares of Sally Beauty during the first quarter worth approximately $236,000. Hsbc Holdings PLC increased its position in shares of Sally Beauty by 47.3% during the first quarter. Hsbc Holdings PLC now owns 38,583 shares of the specialty retailer’s stock worth $601,000 after purchasing an additional 12,396 shares in the last quarter. Finally, Edgestream Partners L.P. increased its position in shares of Sally Beauty by 14.4% during the first quarter. Edgestream Partners L.P. now owns 43,706 shares of the specialty retailer’s stock worth $683,000 after purchasing an additional 5,487 shares in the last quarter.

Analyst Ratings Changes

A number of brokerages have issued reports on SBH. Morgan Stanley downgraded Sally Beauty from an “equal weight” rating to an “underweight” rating and decreased their price target for the company from $19.00 to $12.00 in a report on Thursday, June 16th. Cowen decreased their price target on Sally Beauty from $30.00 to $20.00 in a report on Friday, May 6th. Cowen decreased their price target on Sally Beauty from $30.00 to $20.00 in a report on Friday, May 6th. StockNews.com downgraded Sally Beauty from a “buy” rating to a “hold” rating in a report on Friday. Finally, Raymond James downgraded Sally Beauty from a “market perform” rating to an “underperform” rating in a report on Wednesday, June 29th. Two research analysts have rated the stock with a sell rating and two have issued a hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $18.70.

Sally Beauty Company Profile

(Get Rating)

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.