Coty (NYSE:COTY) Releases Quarterly Earnings Results, Misses Estimates By $0.01 EPS

Coty (NYSE:COTY) issued its quarterly earnings results on Monday. The company reported $0.05 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.01), RTT News reports. Coty had a net margin of 5.39% and a return on equity of 11.91%. The business had revenue of $1.39 billion for the quarter, compared to analysts’ expectations of $1.37 billion. During the same period last year, the business earned $0.19 earnings per share. The company’s revenue was up 7.5% on a year-over-year basis. Coty updated its FY24 guidance to $0.44-$0.47 EPS and its FY 2024 guidance to 0.470-0.470 EPS.

Coty Trading Up 3.0 %

COTY traded up $0.33 during trading on Thursday, reaching $11.22. The company had a trading volume of 821,654 shares, compared to its average volume of 4,018,247. The company has a quick ratio of 0.58, a current ratio of 0.85 and a debt-to-equity ratio of 0.80. The business has a 50 day simple moving average of $11.68 and a 200-day simple moving average of $11.61. The stock has a market cap of $10.04 billion, a P/E ratio of 47.33, a PEG ratio of 6.49 and a beta of 1.83. Coty has a 52 week low of $9.02 and a 52 week high of $13.46.

Insider Buying and Selling at Coty

In other news, Director Robert S. Singer sold 30,000 shares of the 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 sale, the director now directly owns 120,000 shares in the company, valued at $1,524,000. The sale was disclosed in a document filed with the SEC, which is available at this link. In other Coty news, Director Robert S. Singer sold 30,000 shares of the company’s stock in a transaction dated Wednesday, March 6th. The shares were sold at an average price of $12.70, for a total value of $381,000.00. Following the transaction, the director now directly owns 120,000 shares in the company, valued at approximately $1,524,000. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Robert S. Singer sold 90,000 shares of the firm’s stock in a transaction on Monday, March 4th. The stock was 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. Company insiders own 5.80% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the company. Citigroup dropped their target price on Coty from $13.00 to $12.00 and set a “neutral” rating on the stock in a report on Tuesday, April 16th. TheStreet raised shares of Coty from a “c+” rating to a “b-” rating in a research report on Thursday, February 8th. Royal Bank of Canada restated an “outperform” rating and set a $14.00 price objective on shares of Coty in a research note on Friday, February 9th. DA Davidson dropped their target price on shares of Coty from $17.50 to $16.50 and set a “buy” rating on the stock in a research note on Tuesday. Finally, Barclays reduced their price target on shares of Coty from $13.00 to $12.00 and set an “equal weight” rating for the company in a research report on Friday, April 12th. Eight investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $13.14.

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.