Revlon (REV) Sets New 1-Year High on Better-Than-Expected Earnings

Shares of Revlon Inc (NYSE:REV) reached a new 52-week high on Friday following a stronger than expected earnings report. The company traded as high as $29.62 and last traded at $28.39, with a volume of 807760 shares changing hands. The stock had previously closed at $21.80.

The company reported $0.14 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.40) by $0.54. The company had revenue of $655.40 million for the quarter, compared to analyst estimates of $639.60 million. Revlon’s revenue was down 1.7% on a year-over-year basis. During the same period in the prior year, the business earned ($0.38) earnings per share.

Several research analysts have weighed in on REV shares. ValuEngine raised shares of Revlon from a “hold” rating to a “buy” rating in a report on Wednesday, August 22nd. Jefferies Financial Group reissued a “hold” rating and set a $18.00 price objective on shares of Revlon in a report on Friday, August 10th. Finally, Zacks Investment Research lowered shares of Revlon from a “hold” rating to a “strong sell” rating in a report on Wednesday, August 15th.

In other Revlon news, Director Ronald O. Perelman purchased 35,000 shares of the firm’s stock in a transaction dated Tuesday, September 25th. The stock was acquired at an average cost of $21.50 per share, with a total value of $752,500.00. The purchase was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Ronald O. Perelman purchased 75,000 shares of the firm’s stock in a transaction dated Tuesday, August 14th. The stock was acquired at an average cost of $17.30 per share, with a total value of $1,297,500.00. The disclosure for this purchase can be found here. Insiders bought a total of 290,000 shares of company stock valued at $5,618,400 over the last ninety days. Company insiders own 85.00% of the company’s stock.

Hedge funds and other institutional investors have recently bought and sold shares of the company. Symons Capital Management Inc. acquired a new position in shares of Revlon in the 3rd quarter valued at about $206,000. Allianz Asset Management GmbH boosted its holdings in shares of Revlon by 104.7% in the 1st quarter. Allianz Asset Management GmbH now owns 13,464 shares of the company’s stock valued at $277,000 after buying an additional 300,000 shares during the period. Paloma Partners Management Co acquired a new position in shares of Revlon in the 2nd quarter valued at about $295,000. Russell Investments Group Ltd. acquired a new position in shares of Revlon in the 2nd quarter valued at about $300,000. Finally, Alliancebernstein L.P. boosted its holdings in shares of Revlon by 18.4% in the 3rd quarter. Alliancebernstein L.P. now owns 19,300 shares of the company’s stock valued at $430,000 after buying an additional 3,000 shares during the period. 14.70% of the stock is owned by institutional investors and hedge funds.

The company has a market cap of $1.17 billion, a PE ratio of -14.82 and a beta of 0.45.

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About Revlon (NYSE:REV)

Revlon, Inc, through its subsidiaries, manufactures, markets, distributes, and sells beauty and personal care products worldwide. The company's Consumer segment offers cosmetics under the Revlon, Almay, SinfulColors, and Pure Ice brands; women's hair color products under the Revlon ColorSilk brand; beauty tools under the Revlon brand; nail care products under the Cutex brand; and anti-perspirant deodorants under the Mitchum name, as well as skin care line under the Natural Honey brand and hair color line under the Llongueras brand.

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