Estée Lauder Companies (NYSE:EL) Price Target Lowered to $60.00 at Wells Fargo & Company

Estée Lauder Companies (NYSE:EL) had its target price reduced by Wells Fargo & Company from $70.00 to $60.00 in a research report report published on Wednesday,Benzinga reports. Wells Fargo & Company currently has an equal weight rating on the stock.

A number of other research analysts have also issued reports on the company. Piper Sandler lifted their target price on Estée Lauder Companies from $91.00 to $98.00 and gave the company an “overweight” rating in a report on Wednesday, January 29th. UBS Group boosted their price objective on Estée Lauder Companies from $74.00 to $80.00 and gave the stock a “neutral” rating in a research report on Thursday, January 16th. Barclays reduced their target price on shares of Estée Lauder Companies from $71.00 to $64.00 and set an “equal weight” rating on the stock in a report on Thursday, February 6th. Canaccord Genuity Group lowered their price target on shares of Estée Lauder Companies from $76.00 to $70.00 and set a “hold” rating for the company in a report on Wednesday, February 5th. Finally, JPMorgan Chase & Co. reduced their price objective on shares of Estée Lauder Companies from $72.00 to $61.00 and set a “neutral” rating on the stock in a report on Friday, April 11th. Nineteen research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, Estée Lauder Companies has an average rating of “Hold” and an average price target of $82.52.

Estée Lauder Companies Trading Down 3.0 %

EL opened at $52.76 on Wednesday. The company has a quick ratio of 0.97, a current ratio of 1.37 and a debt-to-equity ratio of 1.75. The firm has a market cap of $18.94 billion, a P/E ratio of -27.06, a P/E/G ratio of 6.09 and a beta of 1.10. Estée Lauder Companies has a 52 week low of $48.37 and a 52 week high of $149.91. The business has a fifty day simple moving average of $65.72 and a 200-day simple moving average of $73.95.

Estée Lauder Companies (NYSE:EL) last announced its earnings results on Tuesday, February 4th. The company reported $0.62 EPS for the quarter, beating analysts’ consensus estimates of $0.32 by $0.30. The company had revenue of $4 billion during the quarter, compared to analysts’ expectations of $3.98 billion. Estée Lauder Companies had a positive return on equity of 16.82% and a negative net margin of 4.61%. Estée Lauder Companies’s revenue for the quarter was down 6.4% on a year-over-year basis. During the same period last year, the business posted $0.88 EPS. On average, equities analysts expect that Estée Lauder Companies will post 1.36 earnings per share for the current year.

Estée Lauder Companies Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Friday, February 28th were issued a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a dividend yield of 2.65%. The ex-dividend date was Friday, February 28th. Estée Lauder Companies’s dividend payout ratio is presently -71.79%.

Insider Activity at Estée Lauder Companies

In other Estée Lauder Companies news, Director Paul J. Fribourg bought 43,000 shares of the company’s stock in a transaction on Wednesday, February 5th. The shares were bought at an average price of $66.35 per share, for a total transaction of $2,853,050.00. Following the transaction, the director now owns 430,800 shares of the company’s stock, valued at approximately $28,583,580. This trade represents a 11.09 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Akhil Shrivastava purchased 700 shares of Estée Lauder Companies stock in a transaction dated Wednesday, February 5th. The stock was acquired at an average cost of $65.79 per share, with a total value of $46,053.00. Following the completion of the acquisition, the chief financial officer now directly owns 2,381 shares in the company, valued at approximately $156,645.99. This trade represents a 41.64 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 12.78% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its stake in Estée Lauder Companies by 9.5% in the 4th quarter. Vanguard Group Inc. now owns 27,014,303 shares of the company’s stock valued at $2,025,532,000 after purchasing an additional 2,344,210 shares in the last quarter. FMR LLC boosted its position in shares of Estée Lauder Companies by 163.8% in the 4th quarter. FMR LLC now owns 14,382,579 shares of the company’s stock worth $1,078,406,000 after buying an additional 8,930,011 shares in the last quarter. Independent Franchise Partners LLP grew its stake in Estée Lauder Companies by 45.5% in the 4th quarter. Independent Franchise Partners LLP now owns 7,858,158 shares of the company’s stock valued at $589,205,000 after acquiring an additional 2,458,379 shares during the last quarter. Capital World Investors purchased a new position in Estée Lauder Companies during the 4th quarter valued at about $554,509,000. Finally, Invesco Ltd. raised its position in Estée Lauder Companies by 148.9% during the fourth quarter. Invesco Ltd. now owns 5,481,248 shares of the company’s stock worth $410,984,000 after acquiring an additional 3,278,632 shares during the last quarter. 55.15% of the stock is owned by hedge funds and other institutional investors.

Estée Lauder Companies Company Profile

The Estée Lauder Companies Inc manufactures, markets, and sells skin care, makeup, fragrance, and hair care products worldwide. It offers skin care products, including moisturizers, serums, cleansers, toners, body care, exfoliators, acne care and oil correctors, facial masks, and sun care products; and makeup products, such as lipsticks, lip glosses, mascaras, foundations, eyeshadows, and powders, as well as compacts, brushes, and other makeup tools.