Coty (NYSE:COTY) Updates FY24 Earnings Guidance

Coty (NYSE:COTY) issued an update on its FY24 earnings guidance on Monday morning. The company provided EPS guidance of $0.44-$0.47 for the period, compared to the consensus EPS estimate of $0.45. Coty also updated its FY 2024 guidance to 0.470-0.470 EPS.

Analyst Upgrades and Downgrades

COTY has been the subject of several recent analyst reports. TD Cowen decreased their target price on shares of Coty from $16.00 to $13.00 and set a buy rating for the company in a report on Wednesday, April 17th. Citigroup lowered their price objective on shares of Coty from $13.00 to $12.00 and set a neutral rating on the stock in a research report on Tuesday, April 16th. TheStreet upgraded Coty from a c+ rating to a b- rating in a report on Thursday, February 8th. Wells Fargo & Company lifted their price target on Coty from $11.00 to $12.00 and gave the company an equal weight rating in a report on Friday, February 9th. Finally, Canaccord Genuity Group assumed coverage on Coty in a research report on Monday, April 15th. They set a buy rating and a $14.00 price objective for the company. Eight investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat, the company currently has an average rating of Hold and a consensus target price of $13.20.

Coty Trading Down 0.9 %

COTY stock traded down $0.10 during midday trading on Monday, hitting $11.50. 4,524,476 shares of the company’s stock were exchanged, compared to its average volume of 3,964,375. Coty has a one year low of $9.02 and a one year high of $13.46. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.58 and a current ratio of 0.85. The company has a market cap of $10.29 billion, a PE ratio of 33.14, a price-to-earnings-growth ratio of 6.49 and a beta of 1.83. The stock’s fifty day moving average price is $11.80 and its 200-day moving average price is $11.60.

Coty (NYSE:COTY) last posted its quarterly earnings data on Monday, May 6th. The company reported $0.05 EPS for the quarter, missing the consensus estimate of $0.06 by ($0.01). Coty had a net margin of 5.39% and a return on equity of 11.91%. The company had revenue of $1.39 billion during the quarter, compared to the consensus estimate of $1.37 billion. During the same period in the prior year, the firm posted $0.19 earnings per share. The company’s revenue was up 7.5% compared to the same quarter last year. Research analysts predict that Coty will post 0.45 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Coty news, Director Robert S. Singer sold 30,000 shares of the firm’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 value of $381,000.00. Following the completion of the transaction, the director now directly owns 120,000 shares in the company, valued at $1,524,000. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Coty news, Director Robert S. Singer sold 90,000 shares of the business’s stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $12.56, for a total value of $1,130,400.00. Following the completion of the sale, the director now owns 169,982 shares of the company’s stock, valued at approximately $2,134,973.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Robert S. Singer sold 30,000 shares of the company’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 transaction, the director now owns 120,000 shares of the company’s stock, valued at $1,524,000. The disclosure for this sale can be found here. Insiders own 5.80% of the company’s stock.

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.