Zacks Investment Research Lowers European Wax Center (NASDAQ:EWCZ) to Sell

Zacks Investment Research cut shares of European Wax Center (NASDAQ:EWCZGet Rating) from a hold rating to a sell rating in a report issued on Wednesday morning, Zacks.com reports.

According to Zacks, “European Wax Center Inc. is a personal care franchise brand. It offer wax services from certified Wax Specialists as well as full collection of proprietary products in the skincare, body and brow categories. European Wax Center Inc. is based in PLANO, Texas. “

Shares of NASDAQ EWCZ opened at $27.06 on Wednesday. European Wax Center has a twelve month low of $18.55 and a twelve month high of $34.67. The company has a quick ratio of 1.75, a current ratio of 2.36 and a debt-to-equity ratio of 0.51. The firm has a 50 day moving average price of $27.58.

European Wax Center (NASDAQ:EWCZGet Rating) last issued its quarterly earnings results on Tuesday, March 15th. The company reported $0.18 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.09 by $0.09. The firm had revenue of $45.11 million during the quarter, compared to the consensus estimate of $44.80 million. On average, equities analysts forecast that European Wax Center will post 0.19 EPS for the current year.

The business also recently disclosed a dividend, which will be paid on Friday, May 6th. Investors of record on Friday, April 22nd will be paid a dividend of $3.30 per share. The ex-dividend date of this dividend is Thursday, April 21st. This represents a yield of 11.14%.

Institutional investors and hedge funds have recently modified their holdings of the stock. Citigroup Inc. bought a new position in European Wax Center during the 3rd quarter worth $40,000. Royal Bank of Canada bought a new position in European Wax Center during the 3rd quarter worth $77,000. Metropolitan Life Insurance Co NY bought a new position in European Wax Center during the 3rd quarter worth $93,000. New York State Common Retirement Fund bought a new position in European Wax Center during the 3rd quarter worth $101,000. Finally, SG Americas Securities LLC bought a new position in shares of European Wax Center in the third quarter worth $138,000. Hedge funds and other institutional investors own 65.25% of the company’s stock.

European Wax Center Company Profile (Get Rating)

European Wax Center, Inc operates as a holding company for EWC Ventures, LLC that franchises and operates out-of-home waxing services in the United States. The company sells facial and body waxing products to franchisees. It offers Brazilian, body, brow, facial hair, and fast waxing services, as well as services related to men; and laser hair removal, sugaring, and threading services, as well as in-home solutions, such as shaving, chemical-based creams, epilators, at-home laser hair removal, and at-home waxing.

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