Coty (NYSE:COTY) Updates FY24 Earnings Guidance

Coty (NYSE:COTY) updated its FY24 earnings guidance on Monday. The company provided earnings per share guidance of $0.44-$0.47 for the period, compared to the consensus earnings per share estimate of $0.45. Coty also updated its FY 2024 guidance to 0.470-0.470 EPS.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on COTY shares. Citigroup cut their target price on shares of Coty from $13.00 to $12.00 and set a neutral rating on the stock in a report on Tuesday, April 16th. DA Davidson cut their target price on shares of Coty from $17.50 to $16.50 and set a buy rating on the stock in a report on Tuesday. Royal Bank of Canada reaffirmed an outperform rating and issued a $14.00 target price on shares of Coty in a report on Friday, February 9th. Wells Fargo & Company lifted their target price 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. Finally, TD Cowen cut their target price on shares of Coty from $16.00 to $13.00 and set a buy rating on the stock in a report on Wednesday, April 17th. Eight equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of Hold and an average price target of $13.14.

Coty Trading Up 2.8 %

Shares of NYSE COTY traded up $0.31 during midday trading on Thursday, hitting $11.20. The stock had a trading volume of 933,458 shares, compared to its average volume of 4,020,811. The company has a market capitalization of $10.03 billion, a price-to-earnings ratio of 47.33, a PEG ratio of 6.49 and a beta of 1.83. Coty has a 1-year low of $9.02 and a 1-year high of $13.46. 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 company has a fifty day moving average price of $11.68 and a 200 day moving average price of $11.61.

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

Insider Buying and Selling

In other Coty news, Director Robert S. Singer sold 30,000 shares of the business’s stock in a transaction 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 completion of the transaction, the director now 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 at this hyperlink. In other news, Director Robert S. Singer sold 30,000 shares of the company’s stock in a transaction 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 completion of the sale, the director now directly owns 120,000 shares of the company’s stock, valued at $1,524,000. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Robert S. Singer sold 90,000 shares of the company’s stock in a transaction on 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 directly owns 169,982 shares in the company, valued at $2,134,973.92. The disclosure for this sale can be found here. 5.80% of the stock is owned by company insiders.

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.