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E.l.f. Beauty (ELF) Gains As Market Dips: What You Should Know
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In the latest trading session, e.l.f. Beauty (ELF - Free Report) closed at $93.03, marking a +0.49% move from the previous day. This change outpaced the S&P 500's 0.01% loss on the day. Elsewhere, the Dow lost 0.23%, while the tech-heavy Nasdaq added 0.97%.
Heading into today, shares of the cosmetics company had gained 24.59% over the past month, outpacing the Consumer Staples sector's gain of 6.25% and the S&P 500's gain of 6.23% in that time.
e.l.f. Beauty will be looking to display strength as it nears its next earnings release, which is expected to be May 24, 2023. On that day, e.l.f. Beauty is projected to report earnings of $0.19 per share, which would represent year-over-year growth of 46.15%. Our most recent consensus estimate is calling for quarterly revenue of $155.06 million, up 47.48% from the year-ago period.
Investors might also notice recent changes to analyst estimates for e.l.f. Beauty. These revisions help to show the ever-changing nature of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 2.89% higher. e.l.f. Beauty is currently sporting a Zacks Rank of #2 (Buy).
Valuation is also important, so investors should note that e.l.f. Beauty has a Forward P/E ratio of 57.31 right now. Its industry sports an average Forward P/E of 36.78, so we one might conclude that e.l.f. Beauty is trading at a premium comparatively.
It is also worth noting that ELF currently has a PEG ratio of 1.79. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. The Cosmetics industry currently had an average PEG ratio of 2.39 as of yesterday's close.
The Cosmetics industry is part of the Consumer Staples sector. This group has a Zacks Industry Rank of 61, putting it in the top 25% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow ELF in the coming trading sessions, be sure to utilize Zacks.com.
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E.l.f. Beauty (ELF) Gains As Market Dips: What You Should Know
In the latest trading session, e.l.f. Beauty (ELF - Free Report) closed at $93.03, marking a +0.49% move from the previous day. This change outpaced the S&P 500's 0.01% loss on the day. Elsewhere, the Dow lost 0.23%, while the tech-heavy Nasdaq added 0.97%.
Heading into today, shares of the cosmetics company had gained 24.59% over the past month, outpacing the Consumer Staples sector's gain of 6.25% and the S&P 500's gain of 6.23% in that time.
e.l.f. Beauty will be looking to display strength as it nears its next earnings release, which is expected to be May 24, 2023. On that day, e.l.f. Beauty is projected to report earnings of $0.19 per share, which would represent year-over-year growth of 46.15%. Our most recent consensus estimate is calling for quarterly revenue of $155.06 million, up 47.48% from the year-ago period.
Investors might also notice recent changes to analyst estimates for e.l.f. Beauty. These revisions help to show the ever-changing nature of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 2.89% higher. e.l.f. Beauty is currently sporting a Zacks Rank of #2 (Buy).
Valuation is also important, so investors should note that e.l.f. Beauty has a Forward P/E ratio of 57.31 right now. Its industry sports an average Forward P/E of 36.78, so we one might conclude that e.l.f. Beauty is trading at a premium comparatively.
It is also worth noting that ELF currently has a PEG ratio of 1.79. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. The Cosmetics industry currently had an average PEG ratio of 2.39 as of yesterday's close.
The Cosmetics industry is part of the Consumer Staples sector. This group has a Zacks Industry Rank of 61, putting it in the top 25% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow ELF in the coming trading sessions, be sure to utilize Zacks.com.