Coty (NYSE:COTY) Releases Earnings Results

Coty (NYSE:COTY) announced its quarterly earnings data 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 firm had revenue of $1.39 billion during the quarter, compared to analysts’ expectations of $1.37 billion. During the same period in the prior year, the company posted $0.19 EPS. The company’s revenue for the quarter was up 7.5% compared to the same quarter last year. Coty updated its FY24 guidance to $0.44-$0.47 EPS and its FY 2024 guidance to 0.470-0.470 EPS.

Coty Stock Down 0.9 %

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

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on COTY shares. Wells Fargo & Company lifted their price objective on shares of Coty from $11.00 to $12.00 and gave the company an “equal weight” rating in a report on Friday, February 9th. DA Davidson restated a “buy” rating and set a $17.50 price target on shares of Coty in a report on Monday, April 22nd. Royal Bank of Canada reaffirmed an “outperform” rating and set a $14.00 price objective on shares of Coty in a research report on Friday, February 9th. 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. Finally, TheStreet raised Coty from a “c+” rating to a “b-” rating in a research report 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’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $13.20.

Insider Activity at Coty

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

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.