Q3 EPS Estimates for EWCZ Lifted by Telsey Advisory Group

European Wax Center, Inc. (NASDAQ:EWCZ) – Telsey Advisory Group upped their Q3 2024 earnings per share estimates for shares of European Wax Center in a report issued on Friday, November 15th. Telsey Advisory Group analyst D. Telsey now anticipates that the company will earn $0.07 per share for the quarter, up from their prior forecast of $0.05. Telsey Advisory Group has a “Outperform” rating and a $8.00 price objective 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.

A number of other research firms have also recently issued reports on EWCZ. Citigroup cut European Wax Center from a “buy” rating to a “neutral” rating and cut their price objective for the stock from $16.00 to $5.50 in a report on Thursday, August 15th. Morgan Stanley restated an “underweight” rating and set a $5.00 target price on shares of European Wax Center in a report on Friday. Bank of America lowered their price target on European Wax Center from $16.00 to $8.00 and set a “buy” rating for the company in a research report on Wednesday, August 21st. Truist Financial lowered their price target on 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. Finally, Robert W. Baird decreased their target price on European Wax Center from $13.00 to $7.00 and set a “neutral” rating for the company in a research report on Thursday, August 15th. One research analyst has rated the stock with a sell rating, two have given a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $7.64.

European Wax Center Price Performance

Shares of NASDAQ EWCZ opened at $5.50 on Monday. The firm has a market capitalization of $329.89 million, a P/E ratio of 23.91, a P/E/G ratio of 2.00 and a beta of 1.11. The company has a quick ratio of 2.72, a current ratio of 3.49 and a debt-to-equity ratio of 3.18. The stock’s 50-day simple moving average is $7.06 and its two-hundred day simple moving average is $8.56. European Wax Center has a twelve month low of $4.80 and a twelve month high of $16.07.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Bessemer Group Inc. boosted its stake in European Wax Center by 14.2% during the 1st quarter. Bessemer Group Inc. now owns 49,570 shares of the company’s stock valued at $643,000 after purchasing an additional 6,170 shares during the last quarter. Quantbot Technologies LP boosted its stake in shares of European Wax Center by 52.3% in the 3rd quarter. Quantbot Technologies LP now owns 22,454 shares of the company’s stock worth $153,000 after buying an additional 7,709 shares during the last quarter. Creative Planning lifted its position in European Wax Center by 72.6% during the third quarter. Creative Planning now owns 21,501 shares of the company’s stock valued at $146,000 after purchasing an additional 9,044 shares in the last quarter. Canada Pension Plan Investment Board lifted its position in European Wax Center by 15.5% during the second quarter. Canada Pension Plan Investment Board now owns 84,200 shares of the company’s stock valued at $836,000 after purchasing an additional 11,300 shares in the last quarter. Finally, Victory Capital Management Inc. lifted its position in European Wax Center by 25.7% during the second quarter. Victory Capital Management Inc. now owns 57,000 shares of the company’s stock valued at $566,000 after purchasing an additional 11,650 shares in the last quarter. Institutional investors own 82.14% of the company’s stock.

European Wax Center Company Profile

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.