National Vision Holdings, Inc. (NASDAQ:EYE) announced its quarterly earnings on October 11, 2023, revealing a profit of $0.13 earnings per share (EPS) for the third quarter. This figure surpassed analysts’ consensus estimate of $0.12 EPS by $0.01, according to data from Briefing.com. Revenue for the quarter reached $487.33 million, outpacing predictions of $472.98 million. This represents a 7.9% increase compared to the same quarter last year.
The company also provided an update on its fiscal year 2025 guidance, now projecting EPS in the range of $0.620 to $0.700. National Vision’s return on equity stood at 3.58%, while the net margin was at -0.12%.
Stock Performance and Market Activity
On October 11, 2023, shares of National Vision rose by $0.65, reaching $24.13 during midday trading. The trading volume amounted to 2,018,850 shares, above the average daily volume of 1,916,908. The company’s market capitalization is approximately $1.91 billion with a price-to-earnings ratio of -804.07 and a price-to-earnings-growth ratio of 2.51. Over the past year, the stock has fluctuated between a low of $9.93 and a high of $29.59.
In terms of liquidity, National Vision reports a current ratio of 0.53, a quick ratio of 0.31, and a debt-to-equity ratio of 0.28. The 50-day moving average stands at $25.84, while the 200-day moving average is $22.88.
Insider Transactions and Analyst Ratings
In related news, Chairman L Reade Fahs sold 137,400 shares of National Vision on August 28, 2023, at an average price of $24.33. This transaction totaled approximately $3,342,942. Following the sale, Fahs holds 544,795 shares, valued at around $13,254,862.35, reflecting a 20.14% decrease in his ownership stake. This sale was disclosed in a filing with the Securities and Exchange Commission.
Currently, corporate insiders own approximately 2.70% of the stock.
Several analysts have weighed in on National Vision’s stock, providing mixed ratings. Weiss Ratings maintained a “sell (d-)” rating, while Wells Fargo & Company set a price target of $27.00 and rated the stock as “equal weight”. The Goldman Sachs Group raised its price objective from $17.00 to $22.00 with a “neutral” rating. Roth Capital initiated coverage with a “buy” rating and a target price of $36.00. Barclays adjusted its price target from $30.00 to $28.00, maintaining an “overweight” rating.
Overall, six investment analysts have assigned a “buy” rating to National Vision, four have given it a “hold” rating, and one has issued a “sell” rating. According to MarketBeat.com, the stock holds a consensus rating of “hold” with an average price target set at $24.91.
National Vision operates as an optical retailer in the United States, offering a range of eye care products and services through its various brands. These include America’s Best, Eyeglass World, and Vision Center, among others, highlighting its extensive market presence in the optical retail sector.
