Coty (NYSE:COTY) Posts Quarterly Earnings Results, Misses Expectations By $0.01 EPS

Coty (NYSE:COTY) issued its earnings results on Monday. The company reported $0.05 earnings per share for the quarter, missing the consensus estimate 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 business had revenue of $1.39 billion for the quarter, compared to analyst estimates of $1.37 billion. During the same period last year, the business posted $0.19 EPS. Coty’s revenue was up 7.5% on a year-over-year basis. Coty updated its FY24 guidance to $0.44-$0.47 EPS and its FY 2024 guidance to 0.470-0.470 EPS.

Coty Price Performance

Shares of COTY traded up $0.33 during trading hours on Thursday, hitting $11.22. 821,654 shares of the company were exchanged, compared to its average volume of 4,018,247. The company has a market capitalization of $10.04 billion, a PE ratio of 47.33, a PEG ratio of 6.49 and a beta of 1.83. 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 fifty day simple moving average of $11.68 and a 200-day simple moving average of $11.61. Coty has a one year low of $9.02 and a one year high of $13.46.

Wall Street Analyst Weigh In

Several research analysts have commented on COTY shares. Royal Bank of Canada reaffirmed an “outperform” rating and set a $14.00 price target on shares of Coty in a research report on Friday, February 9th. TheStreet raised Coty from a “c+” rating to a “b-” rating in a research report on Thursday, February 8th. TD Cowen dropped their target price on Coty from $16.00 to $13.00 and set a “buy” rating on the stock in a report on Wednesday, April 17th. Canaccord Genuity Group assumed coverage on Coty in a report on Monday, April 15th. They issued a “buy” rating and a $14.00 target price on the stock. Finally, Citigroup decreased their price target on Coty from $13.00 to $12.00 and set a “neutral” rating on the stock in a research note on Tuesday, April 16th. Eight research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $13.14.

Insider Transactions at Coty

In other news, Director Robert S. Singer sold 90,000 shares of the firm’s stock in a transaction on Monday, March 4th. The stock was 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 $2,134,973.92. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, Director Robert S. Singer sold 90,000 shares of Coty stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $12.56, for a total value of $1,130,400.00. Following the transaction, the director now directly owns 169,982 shares in the company, valued at $2,134,973.92. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Robert S. Singer sold 30,000 shares of Coty stock in a transaction dated Wednesday, March 6th. The stock was sold at an average price of $12.70, for a total value of $381,000.00. Following the sale, the director now directly owns 120,000 shares in the company, valued at $1,524,000. The disclosure for this sale can be found here. Corporate 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.