Coty (NYSE:COTY) Issues FY24 Earnings Guidance

Coty (NYSE:COTY) issued an update on its FY24 earnings guidance on Monday morning. The company provided earnings per share guidance of $0.44-$0.47 for the period, compared to the consensus earnings per share estimate of $0.45. Coty also updated its FY 2024 guidance to 0.470-0.470 EPS.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the stock. Canaccord Genuity Group assumed coverage on shares of Coty in a report on Monday, April 15th. They set a buy rating and a $14.00 target price on the stock. Royal Bank of Canada reaffirmed an outperform rating and set a $14.00 price objective on shares of Coty in a research note on Friday, February 9th. TheStreet raised shares of Coty from a c+ rating to a b- rating in a report on Thursday, February 8th. Citigroup reduced their target price on Coty from $13.00 to $12.00 and set a neutral rating for the company in a research report on Tuesday, April 16th. Finally, Wells Fargo & Company lifted their price target on Coty from $11.00 to $12.00 and gave the company an equal weight rating in a research report on Friday, February 9th. Eight equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of Hold and an average target price of $13.20.

Coty Price Performance

NYSE:COTY traded down $0.10 on Monday, reaching $11.50. 4,524,476 shares of the company’s stock traded hands, compared to its average volume of 3,964,375. The stock has a 50-day simple moving average of $11.80 and a 200-day simple moving average of $11.60. Coty has a 12 month low of $9.02 and a 12 month high of $13.46. The firm has a market cap of $10.29 billion, a PE ratio of 33.14, a P/E/G ratio of 6.49 and a beta of 1.83. The company has a quick ratio of 0.58, a current ratio of 0.85 and a debt-to-equity ratio of 0.80.

Coty (NYSE:COTY) last announced its quarterly earnings results on Monday, May 6th. The company reported $0.05 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.01). Coty had a net margin of 5.39% and a return on equity of 11.91%. The company had revenue of $1.39 billion during the quarter, compared to the consensus estimate of $1.37 billion. During the same quarter in the prior year, the firm posted $0.19 earnings per share. The business’s revenue was up 7.5% on a year-over-year basis. Equities research analysts forecast that Coty will post 0.45 earnings per share for the current year.

Insider Buying and Selling

In other Coty news, Director Robert S. Singer sold 30,000 shares of Coty stock in a transaction dated Wednesday, March 6th. The stock was sold at an average price of $12.70, for a total transaction of $381,000.00. Following the completion of the sale, the director now owns 120,000 shares of the company’s stock, valued at approximately $1,524,000. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, Director Robert S. Singer sold 30,000 shares of the business’s stock in a transaction that occurred on Wednesday, March 6th. The stock was sold at an average price of $12.70, for a total value of $381,000.00. Following the completion of the sale, the director now directly owns 120,000 shares in the company, valued at $1,524,000. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Robert S. Singer sold 90,000 shares of Coty stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $12.56, for a total transaction of $1,130,400.00. Following the completion of the sale, the director now owns 169,982 shares in the company, valued at approximately $2,134,973.92. The disclosure for this sale can be found here. 5.80% of the stock is currently owned by company insiders.

About Coty

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.