Ulta Beauty (ULTA) closed at $394.88 in the latest trading session, marking a -0.63% move from the prior day. This change lagged the S&P 500’s daily gain of 1.03%. Meanwhile, the Dow experienced a rise of 0.46%, and the technology-dominated Nasdaq saw an increase of 1.19%.
Prior to today’s trading, shares of the beauty products retailer had lost 10.65% over the past month. This has lagged the Retail-Wholesale sector’s gain of 0.23% and the S&P 500’s loss of 1.57% in that time.
Investors will be eagerly watching for the performance of Ulta Beauty in its upcoming earnings disclosure. The company’s earnings report is set to be unveiled on May 30, 2024. The company is forecasted to report an EPS of $6.26, showcasing a 9.01% downward movement from the corresponding quarter of the prior year. Meanwhile, the latest consensus estimate predicts the revenue to be $2.75 billion, indicating a 4.36% increase compared to the same quarter of the previous year.
ULTA’s full-year Zacks Consensus Estimates are calling for earnings of $26.55 per share and revenue of $11.82 billion. These results would represent year-over-year changes of +2% and +5.48%, respectively.
Investors should also take note of any recent adjustments to analyst estimates for Ulta Beauty. Such recent modifications usually signify the changing landscape of near-term business trends. Consequently, upward revisions in estimates express analysts’ positivity towards the company’s business operations and its ability to generate profits.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To capitalize on this, we’ve crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.
The Zacks Rank system, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 1.12% decrease. Right now, Ulta Beauty possesses a Zacks Rank of #3 (Hold).
Investors should also note Ulta Beauty’s current valuation metrics, including its Forward P/E ratio of 14.97. This signifies a premium in comparison to the average Forward P/E of 12.84 for its industry.
We can also see that ULTA currently has a PEG ratio of 1.63. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company’s anticipated earnings growth rate. The Retail – Miscellaneous was holding an average PEG ratio of 1.63 at yesterday’s closing price.
The Retail – Miscellaneous industry is part of the Retail-Wholesale sector. Currently, this industry holds a Zacks Industry Rank of 100, positioning it in the top 40% of all 250+ industries.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Don’t forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
