European Wax Center, Inc. (EWCZ) shares rallied 8% in the last trading session to close at $6.87. This move can be attributable to notable volume with a higher number of shares being traded than in a typical session. This compares to the stock's 23.5% gain over the past four weeks.

European Wax Center has been benefiting from its focus on implementing innovative marketing and technology solutions, which helps the company attract new guests while strengthening engagement with current ones.  The company’s franchise partners remain highly committed to long-term development, providing a solid foundation for continued expansion. European Wax Center recently offered an update on its anticipated performance for fiscal 2024, wherein it envisions system-wide sales to be near the top end of its earlier provided view, backed by solid fourth-quarter Wax Pass sales and continued loyalty of key guests.

This company is expected to post quarterly earnings of $0.05 per share in its upcoming report, which represents a year-over-year change of -50%. Revenues are expected to be $52.13 million, down 7.5% from the year-ago quarter.

While earnings and revenue growth expectations are important in evaluating the potential strength in a stock, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.

For European Wax Center, the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on EWCZ going forward to see if this recent jump can turn into more strength down the road.

The stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>

European Wax Center belongs to the Zacks Cosmetics industry. Another stock from the same industry, e.l.f. Beauty (ELF), closed the last trading session 6.7% lower at $118.49. Over the past month, ELF has returned -1.6%.

e.l.f. Beauty's consensus EPS estimate for the upcoming report has changed +2.6% over the past month to $0.76. Compared to the company's year-ago EPS, this represents a change of +2.7%. e.l.f. Beauty currently boasts a Zacks Rank of #3 (Hold).

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