Coty (NYSE:COTY) Hits New 52-Week Low After Earnings Miss

Coty Inc. (NYSE:COTY) reached a new 52-week low during mid-day trading on Tuesday following a weaker than expected earnings announcement. The stock traded as low as $6.50 and last traded at $6.47, with a volume of 788997 shares. The stock had previously closed at $6.77.

The company reported $0.11 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.22 by ($0.11). Coty had a net margin of 2.78% and a return on equity of 9.16%.

Wall Street Analysts Forecast Growth

COTY has been the topic of a number of recent analyst reports. The Goldman Sachs Group decreased their target price on Coty from $9.00 to $8.00 and set a “neutral” rating on the stock in a research report on Wednesday. Canaccord Genuity Group cut their price target on Coty from $10.00 to $8.00 and set a “buy” rating on the stock in a research note on Wednesday. Wells Fargo & Company cut their price target on Coty from $9.00 to $7.00 and set an “equal weight” rating on the stock in a research note on Tuesday, January 7th. TD Cowen lowered Coty from a “buy” rating to a “hold” rating and cut their price target for the company from $11.00 to $8.50 in a research note on Wednesday, November 13th. Finally, Raymond James cut their price target on Coty from $13.00 to $11.00 and set an “outperform” rating on the stock in a research note on Friday, November 8th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $10.17.

Hedge Funds Weigh In On Coty

Several institutional investors have recently added to or reduced their stakes in the business. Banco Santander S.A. lifted its stake in Coty by 0.3% in the third quarter. Banco Santander S.A. now owns 23,112,758 shares of the company’s stock valued at $217,029,000 after buying an additional 79,180 shares during the period. State Street Corp lifted its stake in Coty by 2.3% in the third quarter. State Street Corp now owns 11,043,208 shares of the company’s stock valued at $103,696,000 after buying an additional 251,964 shares during the period. Clearbridge Investments LLC lifted its stake in Coty by 0.4% in the fourth quarter. Clearbridge Investments LLC now owns 9,824,638 shares of the company’s stock valued at $68,379,000 after buying an additional 37,412 shares during the period. Thrivent Financial for Lutherans lifted its stake in Coty by 25.5% in the fourth quarter. Thrivent Financial for Lutherans now owns 8,096,912 shares of the company’s stock valued at $56,354,000 after buying an additional 1,646,839 shares during the period. Finally, Norges Bank acquired a new position in Coty in the fourth quarter valued at approximately $44,401,000. 42.36% of the stock is owned by institutional investors and hedge funds.

Coty Stock Performance

The company has a quick ratio of 0.55, a current ratio of 0.85 and a debt-to-equity ratio of 0.93. The company has a 50 day simple moving average of $7.13 and a 200-day simple moving average of $8.08. The stock has a market capitalization of $4.94 billion, a price-to-earnings ratio of 33.41, a price-to-earnings-growth ratio of 0.72 and a beta of 1.89.

Coty Company Profile

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.