Helen of Troy (NASDAQ:HELE) to Buyback $500.00 million in Shares

Helen of Troy (NASDAQ:HELE) announced that its board has initiated a share repurchase plan on Thursday, September 5th, RTT News reports. The company plans to repurchase $500.00 million in outstanding shares. This repurchase authorization authorizes the company to repurchase up to 39.8% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s board believes its stock is undervalued.

Helen of Troy Trading Up 0.4 %

Helen of Troy stock opened at $55.03 on Tuesday. Helen of Troy has a 12-month low of $48.05 and a 12-month high of $127.83. The stock has a market capitalization of $1.26 billion, a PE ratio of 8.63, a price-to-earnings-growth ratio of 1.08 and a beta of 0.85. The firm has a 50 day simple moving average of $59.19 and a 200-day simple moving average of $89.71. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.87 and a quick ratio of 0.99.

Helen of Troy (NASDAQ:HELE) last issued its quarterly earnings results on Tuesday, July 9th. The company reported $0.99 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.59 by ($0.60). The firm had revenue of $416.80 million for the quarter, compared to analyst estimates of $445.85 million. Helen of Troy had a net margin of 7.82% and a return on equity of 10.25%. The firm’s revenue for the quarter was down 12.2% compared to the same quarter last year. During the same quarter last year, the business posted $1.58 earnings per share. As a group, equities research analysts expect that Helen of Troy will post 6.33 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on HELE shares. DA Davidson lowered shares of Helen of Troy from a “buy” rating to a “neutral” rating and dropped their price target for the company from $139.00 to $67.00 in a research note on Wednesday, July 10th. UBS Group cut their target price on Helen of Troy from $100.00 to $72.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 10th. StockNews.com cut Helen of Troy from a “buy” rating to a “hold” rating in a research note on Wednesday, July 10th. Finally, Canaccord Genuity Group cut their price objective on shares of Helen of Troy from $137.00 to $84.00 and set a “buy” rating on the stock in a research note on Wednesday, July 10th.

Helen of Troy Company Profile

Helen of Troy Limited provides various consumer products in the United States, Canada, Europe, the Middle East, Africa, the Asia Pacific, and Latin America. The company operates in two segments: Home & Outdoor and Beauty & Wellness. The Home & Outdoor segment offers food storage containers, kitchen utensils for cooking and preparing salads, fruits, vegetables and meats, graters, slicers and choppers, baking essentials, kitchen organization, bath, cleaning, infant and toddler products, and coffee preparation tools and electronics; and insulated beverageware, including bottles, travel tumblers, drinkware, mugs, food and lunch containers, insulated totes, soft coolers, outdoor kitchenware, and accessories.