Herbalife (NYSE:HLF) Issues Quarterly Earnings Results

Herbalife (NYSE:HLF) issued its earnings results on Wednesday. The company reported $0.54 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.43 by $0.11, Briefing.com reports. Herbalife had a negative return on equity of 19.97% and a net margin of 2.70%. The business had revenue of $1.28 billion during the quarter, compared to the consensus estimate of $1.33 billion. During the same period in the prior year, the business posted $0.74 EPS. The company’s revenue for the quarter was down 2.5% on a year-over-year basis. Herbalife updated its FY 2024 guidance to EPS and its Q3 2024 guidance to EPS.

Herbalife Stock Down 8.6 %

Shares of Herbalife stock traded down $1.05 during trading on Thursday, hitting $11.23. 3,772,331 shares of the company were exchanged, compared to its average volume of 2,201,950. Herbalife has a fifty-two week low of $6.68 and a fifty-two week high of $19.48. The firm has a 50 day moving average price of $11.13 and a 200 day moving average price of $10.33. The stock has a market capitalization of $1.12 billion, a price-to-earnings ratio of 8.30 and a beta of 1.25.

Insider Buying and Selling at Herbalife

In related news, Director Donal L. Mulligan acquired 30,000 shares of the company’s stock in a transaction that occurred on Friday, May 3rd. The stock was purchased at an average price of $9.65 per share, for a total transaction of $289,500.00. Following the transaction, the director now owns 60,000 shares in the company, valued at approximately $579,000. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other Herbalife news, Director Juan Miguel Mendoza purchased 7,000 shares of Herbalife stock in a transaction on Friday, May 10th. The shares were bought at an average price of $10.65 per share, with a total value of $74,550.00. Following the purchase, the director now directly owns 93,279 shares in the company, valued at approximately $993,421.35. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Donal L. Mulligan acquired 30,000 shares of the firm’s stock in a transaction dated Friday, May 3rd. The shares were acquired at an average price of $9.65 per share, for a total transaction of $289,500.00. Following the acquisition, the director now directly owns 60,000 shares of the company’s stock, valued at $579,000. The disclosure for this purchase can be found here. In the last 90 days, insiders have purchased 42,500 shares of company stock worth $418,485. 0.94% of the stock is owned by insiders.

Analyst Ratings Changes

Several research analysts have issued reports on HLF shares. StockNews.com cut Herbalife from a “buy” rating to a “hold” rating in a research report on Wednesday. DA Davidson raised their price objective on shares of Herbalife from $9.50 to $13.00 and gave the company a “neutral” rating in a research note on Thursday. B. Riley upped their target price on shares of Herbalife from $16.00 to $17.00 and gave the stock a “buy” rating in a research report on Thursday. Finally, Mizuho lifted their price target on shares of Herbalife from $10.00 to $11.00 and gave the company a “neutral” rating in a research report on Friday, June 7th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat.com, Herbalife currently has an average rating of “Hold” and an average price target of $12.33.

About Herbalife

Herbalife Ltd. provides health and wellness products in North America, Mexico, South and Central America, Europe, the Middle East, Africa, China, and the Asia Pacific. It offers products in the areas of weight management; targeted nutrition; energy, sports, and fitness; outer nutrition; and literature and promotional items.