Q3 EPS Estimate for European Wax Center Increased by Analyst

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

Other research analysts have also recently issued reports about the stock. Citigroup cut shares of European Wax Center from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $16.00 to $5.50 in a report on Thursday, August 15th. Robert W. Baird decreased their price objective on shares of European Wax Center from $13.00 to $7.00 and set a “neutral” rating for the company in a report on Thursday, August 15th. Morgan Stanley reaffirmed an “underweight” rating and issued a $5.00 price objective on shares of European Wax Center in a research report on Friday, November 15th. Bank of America reduced their price objective 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. Finally, Truist Financial decreased their target price 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. 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 stock. According to MarketBeat, European Wax Center presently has an average rating of “Hold” and a consensus price target of $7.64.

European Wax Center Price Performance

EWCZ opened at $5.90 on Monday. The firm has a market cap of $353.88 million, a PE ratio of 25.65, a P/E/G ratio of 2.00 and a beta of 1.11. The stock has a 50-day moving average price of $7.05 and a 200-day moving average price of $8.52. European Wax Center has a 1 year low of $4.80 and a 1 year high of $16.07. The company has a debt-to-equity ratio of 3.18, a current ratio of 3.49 and a quick ratio of 2.72.

Institutional Investors Weigh In On European Wax Center

Large investors have recently made changes to their positions in the company. Vanguard Group Inc. grew its position in European Wax Center by 1.6% during the first quarter. Vanguard Group Inc. now owns 1,889,324 shares of the company’s stock valued at $24,523,000 after buying an additional 29,918 shares during the period. Champlain Investment Partners LLC grew its position in European Wax Center by 13.1% in the first quarter. Champlain Investment Partners LLC now owns 3,745,511 shares of the company’s stock worth $48,617,000 after acquiring an additional 435,270 shares in the last quarter. Bessemer Group Inc. increased its position in shares of 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. Bamco Inc. NY raised its stake in shares of European Wax Center by 8.8% in the first quarter. Bamco Inc. NY now owns 3,265,000 shares of the company’s stock valued at $42,380,000 after acquiring an additional 265,000 shares during the period. Finally, Teachers Retirement System of The State of Kentucky raised its position in European Wax Center by 16.5% in the 1st quarter. Teachers Retirement System of The State of Kentucky now owns 95,514 shares of the company’s stock worth $1,240,000 after purchasing an additional 13,497 shares during the period. 82.14% of the stock is currently owned by institutional investors.

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.