$2.13 Billion in Sales Expected for Coty Inc (NYSE:COTY) This Quarter

Equities analysts forecast that Coty Inc (NYSE:COTY) will post $2.13 billion in sales for the current fiscal quarter, Zacks Investment Research reports. Six analysts have provided estimates for Coty’s earnings, with estimates ranging from $2.11 billion to $2.16 billion. Coty posted sales of $2.30 billion during the same quarter last year, which would indicate a negative year over year growth rate of 7.4%. The company is expected to report its next quarterly earnings report before the market opens on Wednesday, August 28th.

According to Zacks, analysts expect that Coty will report full year sales of $8.65 billion for the current year, with estimates ranging from $8.60 billion to $8.70 billion. For the next fiscal year, analysts anticipate that the business will post sales of $8.53 billion, with estimates ranging from $8.35 billion to $8.65 billion. Zacks’ sales calculations are an average based on a survey of research analysts that that provide coverage for Coty.

Coty (NYSE:COTY) last issued its earnings results on Wednesday, May 8th. The company reported $0.13 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.12 by $0.01. The business had revenue of $1.99 billion during the quarter, compared to analysts’ expectations of $2.06 billion. Coty had a negative net margin of 13.20% and a positive return on equity of 5.78%. The business’s revenue for the quarter was down 10.4% compared to the same quarter last year. During the same period in the previous year, the company earned $0.13 earnings per share.

Several brokerages have issued reports on COTY. Exane BNP Paribas started coverage on shares of Coty in a report on Tuesday, June 4th. They issued an “outperform” rating and a $17.00 target price for the company. BNP Paribas started coverage on shares of Coty in a report on Tuesday, June 4th. They set an “outperform” rating and a $17.00 price objective for the company. DA Davidson decreased their price objective on shares of Coty from $11.00 to $10.00 and set a “neutral” rating for the company in a report on Tuesday, July 2nd. ValuEngine cut shares of Coty from a “hold” rating to a “sell” rating in a report on Tuesday, July 2nd. Finally, Citigroup cut shares of Coty from a “neutral” rating to a “sell” rating and decreased their price objective for the company from $14.00 to $10.00 in a report on Tuesday, July 2nd. Two equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and four have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of $12.77.

Coty stock traded down $0.05 during trading hours on Thursday, hitting $10.37. The stock had a trading volume of 2,034,582 shares, compared to its average volume of 4,377,008. The company has a debt-to-equity ratio of 1.00, a current ratio of 0.95 and a quick ratio of 0.62. The company has a market cap of $7.83 billion, a PE ratio of 15.03, a P/E/G ratio of 2.30 and a beta of 0.69. Coty has a 12-month low of $5.91 and a 12-month high of $14.14. The stock has a 50-day simple moving average of $11.49.

In other Coty news, insider Luc Volatier bought 451,263 shares of the business’s stock in a transaction that occurred on Tuesday, May 14th. The stock was bought at an average cost of $11.51 per share, for a total transaction of $5,194,037.13. Following the completion of the transaction, the insider now owns 434,782 shares of the company’s stock, valued at approximately $5,004,340.82. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Giovanni Pieraccioni bought 93,100 shares of the business’s stock in a transaction that occurred on Wednesday, May 15th. The shares were acquired at an average price of $12.91 per share, with a total value of $1,201,921.00. Following the completion of the transaction, the chief operating officer now directly owns 93,100 shares of the company’s stock, valued at approximately $1,201,921. The disclosure for this purchase can be found here. Insiders have bought 5,528,886 shares of company stock valued at $64,942,223 over the last three months. 1.20% of the stock is owned by corporate insiders.

A number of hedge funds and other institutional investors have recently made changes to their positions in COTY. FIL Ltd bought a new position in shares of Coty in the first quarter worth approximately $1,062,000. Marshall Wace LLP boosted its position in shares of Coty by 3.4% in the first quarter. Marshall Wace LLP now owns 261,290 shares of the company’s stock worth $3,005,000 after purchasing an additional 8,699 shares during the period. SG Americas Securities LLC boosted its position in shares of Coty by 440.0% in the first quarter. SG Americas Securities LLC now owns 2,319,616 shares of the company’s stock worth $26,676,000 after purchasing an additional 1,890,040 shares during the period. Retirement Systems of Alabama boosted its position in shares of Coty by 1.0% in the first quarter. Retirement Systems of Alabama now owns 209,893 shares of the company’s stock worth $2,414,000 after purchasing an additional 2,154 shares during the period. Finally, W.E. Donoghue & Co. LLC bought a new position in shares of Coty in the first quarter worth approximately $2,780,000. Institutional investors own 72.16% of the company’s stock.

Coty Company Profile

Coty Inc, together with its subsidiaries, manufactures, markets, distributes, and sells beauty products worldwide. It operates in three segments: Luxury, Consumer Beauty, and Professional Beauty. The Luxury segment offers prestige fragrances, and skincare and cosmetics products through various retailers, including perfumeries, department stores, and duty-free shops under the Alexander McQueen, Balenciaga, Burberry, Bottega Veneta, Calvin Klein, Cavalli, Chloe, Davidoff, Escada, Gucci, Hugo Boss, Jil Sander, Joop!, Lacoste, Lancaster, Marc Jacobs, Miu Miu, philosophy, Stella McCartney, and Tiffany & Co brands.

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Earnings History and Estimates for Coty (NYSE:COTY)

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