Coty (NYSE:COTY) Announces Earnings Results

Coty (NYSE:COTY) announced its quarterly earnings results on Monday. The company reported $0.05 earnings per share for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.01), RTT News reports. 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 quarter in the previous year, the company posted $0.19 earnings per share. The firm’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 Performance

NYSE COTY opened at $11.51 on Tuesday. The company’s fifty day moving average is $11.76 and its two-hundred day moving average is $11.61. 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 current ratio of 0.85 and a quick ratio of 0.58. The firm has a market capitalization of $10.30 billion, a price-to-earnings ratio of 32.89, a P/E/G ratio of 6.49 and a beta of 1.83.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the company. Royal Bank of Canada reiterated an “outperform” rating and set a $14.00 price objective on shares of Coty in a research report on Friday, February 9th. Canaccord Genuity Group began coverage on shares of Coty in a research report on Monday, April 15th. They set a “buy” rating and a $14.00 price target on the stock. TD Cowen decreased their price target on Coty from $16.00 to $13.00 and set a “buy” rating for the company in a research note on Wednesday, April 17th. Canaccord Genuity Group began coverage on Coty in a report on Monday, April 15th. They issued a “buy” rating and a $14.00 price objective for the company. Finally, Barclays dropped their price target on shares of Coty from $13.00 to $12.00 and set an “equal weight” rating on the stock in a research report on Friday, April 12th. Eight equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $13.20.

Insider Activity at Coty

In other news, Director Robert S. Singer sold 30,000 shares of the business’s 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 $1,524,000. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, Director Robert S. Singer sold 30,000 shares of the company’s stock in a transaction dated Wednesday, March 6th. The shares were sold at an average price of $12.70, for a total value of $381,000.00. Following the sale, the director now owns 120,000 shares of the company’s stock, valued at $1,524,000. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Robert S. Singer sold 90,000 shares of the firm’s stock in a transaction dated 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 transaction, 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. 5.80% of the stock is owned by corporate 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.