Sally Beauty Holdings, Inc. (NYSE:SBH) announced its quarterly earnings results on Wednesday. The specialty retailer reported $0.45 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.47 by ($0.02), Bloomberg Earnings reports. The company had revenue of $974.20 million during the quarter, compared to analyst estimates of $989.96 million. Sally Beauty Holdings had a net margin of 5.89% and a negative return on equity of 80.60%. The firm’s revenue for the quarter was down .2% compared to the same quarter last year. During the same quarter last year, the business earned $0.41 EPS.
Sally Beauty Holdings (NYSE SBH) opened at $15.16 on Thursday. Sally Beauty Holdings has a 1 year low of $14.22 and a 1 year high of $27.71. The company has a quick ratio of 0.43, a current ratio of 2.18 and a debt-to-equity ratio of -5.07. The company has a market cap of $1,989.00, a PE ratio of 8.60, a price-to-earnings-growth ratio of 1.37 and a beta of 0.66.
Sally Beauty Holdings declared that its board has approved a stock repurchase program on Thursday, August 31st that permits the company to repurchase $1.00 billion in shares. This repurchase authorization permits the specialty retailer to reacquire up to 40.7% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s management believes its shares are undervalued.
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In other Sally Beauty Holdings news, Director Edward W. Rabin bought 4,250 shares of the business’s stock in a transaction that occurred on Monday, August 21st. The stock was acquired at an average cost of $18.06 per share, with a total value of $76,755.00. Following the completion of the purchase, the director now directly owns 16,653 shares in the company, valued at $300,753.18. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Christian A. Brickman bought 20,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 23rd. The shares were acquired at an average cost of $17.54 per share, with a total value of $350,800.00. Following the completion of the purchase, the chief executive officer now owns 182,543 shares of the company’s stock, valued at $3,201,804.22. The disclosure for this purchase can be found here. In the last 90 days, insiders acquired 34,250 shares of company stock valued at $606,555. 0.97% of the stock is owned by insiders.
Several research firms recently weighed in on SBH. BMO Capital Markets restated a “hold” rating and set a $16.00 target price on shares of Sally Beauty Holdings in a report on Wednesday. DA Davidson upgraded shares of Sally Beauty Holdings from a “neutral” rating to a “buy” rating and set a $21.00 target price on the stock in a report on Monday, October 16th. BidaskClub upgraded shares of Sally Beauty Holdings from a “sell” rating to a “hold” rating in a report on Monday, July 31st. KeyCorp restated a “hold” rating on shares of Sally Beauty Holdings in a report on Wednesday, September 6th. Finally, Oppenheimer Holdings, Inc. restated a “hold” rating on shares of Sally Beauty Holdings in a report on Friday, November 10th. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating and three have issued a buy rating to the stock. Sally Beauty Holdings currently has an average rating of “Hold” and a consensus target price of $22.13.
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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