Coty (NYSE:COTY) Updates FY 2024 Earnings Guidance

Coty (NYSE:COTY) updated its FY 2024 earnings guidance on Monday. The company provided earnings per share guidance of 0.470-0.470 for the period, compared to the consensus earnings per share estimate of 0.450. The company issued revenue guidance of -. Coty also updated its FY24 guidance to $0.44-$0.47 EPS.

Coty Stock Down 0.9 %

Shares of NYSE:COTY traded down $0.10 during trading on Monday, hitting $11.50. 4,524,476 shares of the company’s stock traded hands, compared to its average volume of 3,964,375. The company has a current ratio of 0.85, a quick ratio of 0.58 and a debt-to-equity ratio of 0.80. The company has a 50-day moving average price of $11.80 and a 200-day moving average price of $11.60. Coty has a 52 week low of $9.02 and a 52 week high of $13.46. The company has a market cap of $10.29 billion, a price-to-earnings ratio of 33.14, a price-to-earnings-growth ratio of 6.49 and a beta of 1.83.

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

Analysts Set New Price Targets

A number of research analysts recently weighed in on the stock. Canaccord Genuity Group assumed coverage on shares of Coty in a research report on Monday, April 15th. They issued a buy rating and a $14.00 target price for the company. TD Cowen dropped their target price on Coty from $16.00 to $13.00 and set a buy rating on the stock in a report on Wednesday, April 17th. DA Davidson reaffirmed a buy rating and set a $17.50 price target on shares of Coty in a research report on Monday, April 22nd. Citigroup cut their price objective on Coty from $13.00 to $12.00 and set a neutral rating for the company in a report on Tuesday, April 16th. Finally, TheStreet upgraded shares of Coty from a c+ rating to a b- rating in a research note on Thursday, February 8th. Eight equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, Coty currently has a consensus rating of Hold and an average target price of $13.20.

Insider Activity

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

Coty Company Profile

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.