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NU Skin Shares Climb 25% Higher on Strong Quarterly Global Customer and Revenue Growth

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NU Skin Enterprises reported that preliminary Q2/20 revenue exceeded previously forecasted estimates and that the company is experiencing stronger than expected global growth along with accelerated digital adoption.

Direct selling company NU Skin Enterprises Inc. (NUS:NYSE) yesterday announced that "it estimates revenue for the second quarter of 2020 to be approximately $603 to $608 million." The company had previously forecast second-quarter revenue to be in the range of $520 to $550 million. The company stated that it will report its full Q2/20 results including earnings per share and provide a revised outlook for the FY/20 on August 5, 2020.

Following yesterday' announcement, today analysts at two separate firms raised their ratings and price targets for the company. Specifically, an analyst at D.A. Davidson raised the shares "to buy from neutral" and raised the target price to "$54 from $35" per share. Additionally, Jefferies raised the company "to buy from hold" and "raised the target price to $50 from $42."

NU Skin CEO Ritch Wood commented, "We are pleased to report that our expected revenue for the second quarter is well ahead of our previous guidance, driven by strong global customer growth with particular strength in the Americas and Europe...The trends we are seeing are a credit to the adaptability and hard work of our global sales force and the enduring value of our products. Nu Skin's investments in technology and our commitment to enhancing the company's digital capabilities have been a critical driver of performance and business continuity in the second quarter, with online transactions accounting for more than 80 percent of volume."

The company indicated that it plans to release its full Q2/20 financial results after the market closes for trading on Wednesday, August 5, 2020. The firm noted that its management team will host a conference call later that same day at 5 p.m. ET with the investment community.

Nu Skin Enterprises is a direct selling company headquartered in Provo, Utah. The company's current product offerings are centered around consumer products, product manufacturing and controlled environment agriculture technology. The firm develops and distributes its comprehensive line of Nu Skin beauty and wellness products globally through network sales channels in the Americas, Africa, Asia, Europe and the Pacific. The company stated that its strategic investment arm, Rhyz, includes a collection of sustainable manufacturing and technology innovation companies. Nu Skin's website lists that in 2019 it had worldwide revenue totaling $2.42 billion.

NU Skin Enterprises began the day with a market capitalization of around $2.0 billion with approximately 51.94 million shares outstanding and a short interest of about 4.70%. NUS shares opened nearly 17% higher today at $44.95 (+$6.50, +16.91%) over yesterday's $38.45 closing price. The stock has traded today between $44.30 and $48.50 per share and is currently trading at $48.526 (+$10.07, +26.19%).


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