Coty (NYSE:COTY) Posts Quarterly Earnings Results, Beats Estimates By $0.05 EPS

Coty (NYSE:COTYGet Free Report) announced its quarterly earnings data on Wednesday. The company reported $0.25 EPS for the quarter, beating the consensus estimate of $0.20 by $0.05, Briefing.com reports. The firm had revenue of $1.73 billion for the quarter, compared to analyst estimates of $1.68 billion. Coty had a return on equity of 11.64% and a net margin of 6.57%. The company’s revenue was up 13.4% on a year-over-year basis. During the same period in the prior year, the company earned $0.22 EPS. Coty updated its FY24 guidance to $0.44-0.47 EPS and its FY 2024 guidance to 0.440-0.470 EPS.

Coty Trading Down 0.6 %

COTY opened at $12.20 on Thursday. The business has a 50 day moving average of $12.12 and a 200-day moving average of $11.35. The stock has a market cap of $10.88 billion, a PE ratio of 29.05, a PEG ratio of 6.90 and a beta of 1.89. Coty has a 52 week low of $9.02 and a 52 week high of $13.46. The company has a quick ratio of 0.49, a current ratio of 0.79 and a debt-to-equity ratio of 1.05.

Coty declared that its board has approved a share buyback plan on Monday, November 13th that permits the company to repurchase $600.00 million in shares. This repurchase authorization permits the company to buy up to 7.1% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s leadership believes its stock is undervalued.

Analysts Set New Price Targets

Several equities analysts recently issued reports on COTY shares. DA Davidson raised their price target on Coty from $15.00 to $17.00 and gave the stock a “buy” rating in a research report on Wednesday, November 8th. Citigroup reduced their price target on Coty from $12.00 to $11.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 11th. TD Cowen started coverage on Coty in a research report on Tuesday, October 17th. They set a “market perform” rating and a $11.00 price target on the stock. JPMorgan Chase & Co. reduced their price target on Coty from $13.00 to $12.00 and set a “neutral” rating on the stock in a research report on Thursday, October 12th. Finally, Barclays raised their price target on Coty from $11.00 to $13.00 and gave the stock an “equal weight” rating in a research report on Tuesday, January 16th. Nine equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $12.84.

Get Our Latest Report on COTY

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in COTY. Atlas Capital Advisors LLC purchased a new position in Coty during the second quarter valued at $37,000. Coppell Advisory Solutions LLC purchased a new position in Coty during the second quarter valued at $47,000. Captrust Financial Advisors raised its stake in Coty by 126.2% during the first quarter. Captrust Financial Advisors now owns 8,400 shares of the company’s stock valued at $76,000 after buying an additional 4,686 shares during the last quarter. Mather Group LLC. purchased a new position in Coty during the third quarter valued at $89,000. Finally, Delphia USA Inc. purchased a new position in Coty during the fourth quarter valued at $95,000. Hedge funds and other institutional investors own 37.10% of the company’s stock.

Coty Company Profile

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Coty Inc, together with its subsidiaries, manufactures, markets, distributes, and sells beauty products worldwide. It operates through Prestige and Consumer Beauty segments. The company provides fragrance, color cosmetics, and skin and body care products. It offers Prestige segment products primarily through prestige retailers, including perfumeries, department stores, e-retailers, direct-to-consumer websites, and duty-free shops under the Burberry, Calvin Klein, Chloe, Davidoff, Escada, Gucci, Hugo Boss, Jil Sander, Joop!, Kylie Jenner, Lancaster, Marc Jacobs, Miu Miu, Orveda, philosophy, SKKN BY KIM, and Tiffany & Co brands.

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Earnings History for Coty (NYSE:COTY)

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