$2.16 Billion in Sales Expected for Coty Inc (COTY) This Quarter

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Wall Street analysts expect that Coty Inc (NYSE:COTY) will post sales of $2.16 billion for the current quarter, according to Zacks Investment Research. Six analysts have made estimates for Coty’s earnings, with estimates ranging from $2.10 billion to $2.22 billion. Coty reported sales of $2.24 billion during the same quarter last year, which would suggest a negative year-over-year growth rate of 3.6%. The business is expected to issue its next earnings results on Thursday, November 8th.

According to Zacks, analysts expect that Coty will report full year sales of $9.08 billion for the current financial year, with estimates ranging from $8.92 billion to $9.37 billion. For the next financial year, analysts expect that the company will report sales of $9.29 billion, with estimates ranging from $9.08 billion to $9.57 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side research analysts that that provide coverage for Coty.

Coty (NYSE:COTY) last posted its quarterly earnings data on Tuesday, August 21st. The company reported $0.14 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.13 by $0.01. The business had revenue of $2.30 billion during the quarter, compared to analysts’ expectations of $2.31 billion. Coty had a negative net margin of 1.80% and a positive return on equity of 5.55%. Coty’s revenue for the quarter was up 2.6% compared to the same quarter last year.

Several research analysts have recently issued reports on COTY shares. JPMorgan Chase & Co. decreased their price objective on shares of Coty from $13.00 to $11.00 and set an “underweight” rating for the company in a report on Friday, August 10th. Wells Fargo & Co reiterated a “hold” rating on shares of Coty in a report on Tuesday, July 17th. Morgan Stanley decreased their price objective on shares of Coty from $18.00 to $17.00 and set an “equal weight” rating for the company in a report on Thursday, June 21st. Barclays set a $15.00 price objective on shares of Coty and gave the company a “hold” rating in a report on Wednesday, August 22nd. Finally, Zacks Investment Research upgraded shares of Coty from a “sell” rating to a “hold” rating in a report on Tuesday, June 26th. Four research analysts have rated the stock with a sell rating, eight have assigned a hold rating and five have assigned a buy rating to the stock. Coty presently has a consensus rating of “Hold” and an average price target of $15.40.

Shares of Coty stock traded down $0.31 on Friday, hitting $10.53. The company had a trading volume of 10,431,300 shares, compared to its average volume of 6,118,799. The company has a debt-to-equity ratio of 0.82, a current ratio of 0.90 and a quick ratio of 0.62. The stock has a market capitalization of $8.42 billion, a PE ratio of 15.32, a price-to-earnings-growth ratio of 1.45 and a beta of 0.21. Coty has a 52 week low of $10.48 and a 52 week high of $21.68.

In other Coty news, major shareholder Cosmetics B.V. Jab bought 2,600,000 shares of Coty stock in a transaction that occurred on Tuesday, August 28th. The stock was purchased at an average cost of $12.29 per share, for a total transaction of $31,954,000.00. Following the completion of the acquisition, the insider now owns 291,138,041 shares of the company’s stock, valued at approximately $3,578,086,523.89. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Robert S. Singer bought 20,000 shares of Coty stock in a transaction that occurred on Thursday, August 23rd. The shares were acquired at an average price of $11.50 per share, with a total value of $230,000.00. Following the completion of the acquisition, the director now directly owns 175,000 shares of the company’s stock, valued at approximately $2,012,500. The disclosure for this purchase can be found here. Insiders have purchased 3,655,000 shares of company stock valued at $44,583,400 over the last 90 days. 1.20% of the stock is currently owned by insiders.

Large investors have recently modified their holdings of the stock. Dimensional Fund Advisors LP lifted its position in shares of Coty by 1.7% in the 1st quarter. Dimensional Fund Advisors LP now owns 3,590,937 shares of the company’s stock valued at $65,713,000 after acquiring an additional 60,358 shares in the last quarter. PNC Financial Services Group Inc. lifted its position in shares of Coty by 15.5% in the 1st quarter. PNC Financial Services Group Inc. now owns 33,010 shares of the company’s stock valued at $606,000 after acquiring an additional 4,418 shares in the last quarter. GSA Capital Partners LLP purchased a new stake in shares of Coty in the 1st quarter valued at approximately $873,000. Achmea Investment Management B.V. purchased a new stake in shares of Coty in the 1st quarter valued at approximately $878,000. Finally, Crawford Investment Counsel Inc. purchased a new stake in shares of Coty in the 1st quarter valued at approximately $184,000. Hedge funds and other institutional investors own 66.84% of the company’s stock.

About Coty

Coty Inc, together with its subsidiaries, manufactures, markets, distributes, and sells beauty products worldwide. It operates in three segments: Luxury, Consumer Beauty, and Professional Beauty. The Luxury segment offers prestige fragrances, and skincare and cosmetics products through various retailers, including perfumeries, department stores, and duty-free shops under the Alexander McQueen, Balenciaga, Burberry, Bottega Veneta, Calvin Klein, Cavalli, Chloe, Davidoff, Escada, Gucci, Hugo Boss, Jil Sander, Joop!, Lacoste, Lancaster, Marc Jacobs, Miu Miu, philosophy, Stella McCartney, and Tiffany & Co brands.

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