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E.l.f. Beauty (ELF) Stock Sinks As Market Gains: What You Should Know
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e.l.f. Beauty (ELF - Free Report) closed at $92.85 in the latest trading session, marking a -1.07% move from the prior day. This move lagged the S&P 500's daily gain of 1.96%. Elsewhere, the Dow gained 1.57%, while the tech-heavy Nasdaq lost 3.03%.
Prior to today's trading, shares of the cosmetics company had gained 16.7% over the past month. This has outpaced the Consumer Staples sector's gain of 4.57% and the S&P 500's gain of 2.19% in that time.
Wall Street will be looking for positivity from e.l.f. Beauty as it approaches its next earnings report date. This is expected to be May 24, 2023. In that report, analysts expect e.l.f. Beauty to post earnings of $0.19 per share. This would mark year-over-year growth of 46.15%. Meanwhile, our latest consensus estimate is calling for revenue of $156.81 million, up 49.15% from the prior-year quarter.
Any recent changes to analyst estimates for e.l.f. Beauty should also be noted by investors. These recent revisions tend to reflect the evolving nature of short-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. The Zacks Consensus EPS estimate has moved 3.05% higher within the past month. e.l.f. Beauty is currently a Zacks Rank #2 (Buy).
Looking at its valuation, e.l.f. Beauty is holding a Forward P/E ratio of 57.87. For comparison, its industry has an average Forward P/E of 36.11, which means e.l.f. Beauty is trading at a premium to the group.
It is also worth noting that ELF currently has a PEG ratio of 1.81. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. The Cosmetics industry currently had an average PEG ratio of 2.26 as of yesterday's close.
The Cosmetics industry is part of the Consumer Staples sector. This group has a Zacks Industry Rank of 49, putting it in the top 20% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our 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) Stock Sinks As Market Gains: What You Should Know
e.l.f. Beauty (ELF - Free Report) closed at $92.85 in the latest trading session, marking a -1.07% move from the prior day. This move lagged the S&P 500's daily gain of 1.96%. Elsewhere, the Dow gained 1.57%, while the tech-heavy Nasdaq lost 3.03%.
Prior to today's trading, shares of the cosmetics company had gained 16.7% over the past month. This has outpaced the Consumer Staples sector's gain of 4.57% and the S&P 500's gain of 2.19% in that time.
Wall Street will be looking for positivity from e.l.f. Beauty as it approaches its next earnings report date. This is expected to be May 24, 2023. In that report, analysts expect e.l.f. Beauty to post earnings of $0.19 per share. This would mark year-over-year growth of 46.15%. Meanwhile, our latest consensus estimate is calling for revenue of $156.81 million, up 49.15% from the prior-year quarter.
Any recent changes to analyst estimates for e.l.f. Beauty should also be noted by investors. These recent revisions tend to reflect the evolving nature of short-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. The Zacks Consensus EPS estimate has moved 3.05% higher within the past month. e.l.f. Beauty is currently a Zacks Rank #2 (Buy).
Looking at its valuation, e.l.f. Beauty is holding a Forward P/E ratio of 57.87. For comparison, its industry has an average Forward P/E of 36.11, which means e.l.f. Beauty is trading at a premium to the group.
It is also worth noting that ELF currently has a PEG ratio of 1.81. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. The Cosmetics industry currently had an average PEG ratio of 2.26 as of yesterday's close.
The Cosmetics industry is part of the Consumer Staples sector. This group has a Zacks Industry Rank of 49, putting it in the top 20% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our 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.