$1.61 Billion in Sales Expected for Coty Inc. (NYSE:COTY) This Quarter

Wall Street brokerages expect Coty Inc. (NYSE:COTY) to post $1.61 billion in sales for the current fiscal quarter, Zacks reports. Five analysts have provided estimates for Coty’s earnings, with the highest sales estimate coming in at $1.63 billion and the lowest estimate coming in at $1.60 billion. Coty reported sales of $1.42 billion in the same quarter last year, which indicates a positive year-over-year growth rate of 13.4%. The business is expected to report its next quarterly earnings report on Tuesday, February 8th.

According to Zacks, analysts expect that Coty will report full-year sales of $5.32 billion for the current year, with estimates ranging from $5.22 billion to $5.44 billion. For the next fiscal year, analysts anticipate that the business will report sales of $5.61 billion, with estimates ranging from $5.52 billion to $5.71 billion. Zacks’ sales averages are an average based on a survey of sell-side research firms that follow Coty.

Coty (NYSE:COTY) last released its earnings results on Sunday, November 7th. The company reported $0.08 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.03 by $0.05. The company had revenue of $1.37 billion for the quarter, compared to analyst estimates of $1.36 billion. Coty had a positive return on equity of 4.16% and a negative net margin of 7.75%. Coty’s quarterly revenue was up 22.0% on a year-over-year basis. During the same period in the prior year, the firm posted $0.11 EPS.

COTY has been the topic of several analyst reports. Jefferies Financial Group increased their target price on Coty from $14.00 to $15.00 and gave the stock a “buy” rating in a report on Tuesday, December 14th. Wells Fargo & Company raised Coty from an “underweight” rating to an “equal weight” rating and increased their target price for the stock from $8.00 to $11.00 in a report on Wednesday, November 17th. Zacks Investment Research lowered Coty from a “buy” rating to a “hold” rating and set a $11.00 target price on the stock. in a report on Tuesday, December 28th. Royal Bank of Canada increased their target price on Coty from $12.00 to $14.00 and gave the stock an “outperform” rating in a report on Thursday, November 11th. Finally, Deutsche Bank Aktiengesellschaft upped their price objective on Coty from $12.00 to $13.00 and gave the stock a “buy” rating in a research report on Friday, November 19th. Five analysts have rated the stock with a hold rating, five have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average price target of $12.23.

In related news, Director Maria Asunicion Aramburuzabala purchased 586,307 shares of the firm’s stock in a transaction dated Monday, November 15th. The stock was bought at an average price of $10.90 per share, with a total value of $6,390,746.30. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Robert S. Singer sold 25,000 shares of the stock in a transaction dated Monday, December 13th. The shares were sold at an average price of $10.00, for a total value of $250,000.00. The disclosure for this sale can be found here. Insiders sold 65,000 shares of company stock valued at $671,400 over the last quarter. Corporate insiders own 3.10% of the company’s stock.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. World Asset Management Inc grew its stake in Coty by 11.2% during the third quarter. World Asset Management Inc now owns 11,378 shares of the company’s stock worth $89,000 after purchasing an additional 1,143 shares during the period. Federated Hermes Inc. grew its stake in Coty by 2.3% during the second quarter. Federated Hermes Inc. now owns 58,720 shares of the company’s stock worth $548,000 after purchasing an additional 1,323 shares during the period. Stifel Financial Corp grew its stake in Coty by 13.1% during the second quarter. Stifel Financial Corp now owns 19,483 shares of the company’s stock worth $182,000 after purchasing an additional 2,250 shares during the period. CIBC Asset Management Inc grew its stake in Coty by 8.6% during the third quarter. CIBC Asset Management Inc now owns 30,695 shares of the company’s stock worth $241,000 after purchasing an additional 2,424 shares during the period. Finally, Cambridge Investment Research Advisors Inc. grew its stake in Coty by 9.8% during the second quarter. Cambridge Investment Research Advisors Inc. now owns 28,055 shares of the company’s stock worth $262,000 after purchasing an additional 2,499 shares during the period. 34.68% of the stock is owned by institutional investors and hedge funds.

COTY opened at $8.93 on Friday. The firm has a market cap of $7.31 billion, a P/E ratio of -17.17 and a beta of 2.52. Coty has a 52-week low of $6.20 and a 52-week high of $11.12. The company has a debt-to-equity ratio of 1.52, a quick ratio of 0.46 and a current ratio of 0.67. The business’s fifty day moving average is $10.14 and its 200-day moving average is $9.06.

Coty Company Profile

Coty, Inc engages in the manufacture, market, sale, and distribution of branded beauty products. It operates through the following segments: Americas, EMEA, and Asia Pacific. The segments Americas, EMEA, and Asia Pacific focuses on prestige fragrances, prestige skin care, prestige cosmetics, mass color cosmetics, mass fragrance, mass skin care and body care.

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Earnings History and Estimates for Coty (NYSE:COTY)

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