Q3 EPS Forecast for European Wax Center Increased by Analyst

European Wax Center, Inc. (NASDAQ:EWCZ - Free Report) - Research analysts at Telsey Advisory Group raised their Q3 2024 earnings per share (EPS) estimates for shares of European Wax Center in a research report issued on Friday, November 15th. Telsey Advisory Group analyst D. Telsey now forecasts that the company will post earnings of $0.07 per share for the quarter, up from their previous forecast of $0.05. Telsey Advisory Group currently has a "Outperform" rating and a $8.00 target price on the stock. The consensus estimate for European Wax Center's current full-year earnings is $0.24 per share. Telsey Advisory Group also issued estimates for European Wax Center's Q4 2024 earnings at $0.04 EPS and FY2025 earnings at $0.31 EPS.

EWCZ has been the subject of several other research reports. Citigroup downgraded shares of European Wax Center from a "buy" rating to a "neutral" rating and reduced their target price for the stock from $16.00 to $5.50 in a report on Thursday, August 15th. Bank of America dropped their price target on European Wax Center from $16.00 to $8.00 and set a "buy" rating for the company in a report on Wednesday, August 21st. Morgan Stanley reaffirmed an "underweight" rating and issued a $5.00 price objective on shares of European Wax Center in a report on Friday. Robert W. Baird lowered their target price on shares of European Wax Center from $13.00 to $7.00 and set a "neutral" rating on the stock in a report on Thursday, August 15th. Finally, Truist Financial cut their price objective on shares of European Wax Center from $16.00 to $8.00 and set a "buy" rating for the company in a research report on Thursday, August 15th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and four have assigned a buy rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $7.64.

European Wax Center Stock Performance

Shares of EWCZ traded down $0.39 during midday trading on Monday, reaching $5.50. The stock had a trading volume of 987,517 shares, compared to its average volume of 679,743. The company has a current ratio of 3.49, a quick ratio of 2.72 and a debt-to-equity ratio of 3.18. The firm has a 50 day simple moving average of $7.09 and a 200-day simple moving average of $8.60. The firm has a market cap of $329.89 million, a PE ratio of 25.13, a P/E/G ratio of 2.00 and a beta of 1.11. European Wax Center has a one year low of $4.80 and a one year high of $16.07.

Hedge Funds Weigh In On European Wax Center

Hedge funds and other institutional investors have recently modified their holdings of the business. SG Americas Securities LLC bought a new stake in shares of European Wax Center in the 3rd quarter worth approximately $93,000. Royce & Associates LP bought a new stake in European Wax Center during the 3rd quarter valued at $108,000. Aigen Investment Management LP bought a new stake in European Wax Center during the 3rd quarter valued at $114,000. Dark Forest Capital Management LP bought a new stake in European Wax Center during the 2nd quarter valued at $127,000. Finally, Algert Global LLC bought a new stake in European Wax Center during the 2nd quarter valued at $135,000. Hedge funds and other institutional investors own 82.14% of the company's stock.

About European Wax Center

European Wax Center, Inc operates as the franchisor and operator of out-of-home waxing services in the United States. It offers body and facial waxing services; and pre- and post-service products, including ingrown hair serums, exfoliating gels, brow shapers, and skin treatments. The company was founded in 2004 and is headquartered in Plano, Texas.