B. Riley Comments on Avon Products Inc.’s Q4 2016 Earnings (AVP)
Avon Products Inc. (NYSE:AVP) – Equities researchers at B. Riley boosted their Q4 2016 earnings per share (EPS) estimates for Avon Products in a research note issued on Monday. B. Riley analyst L. Weiser now anticipates that the brokerage will post earnings of $0.11 per share for the quarter, up from their prior estimate of $0.10. B. Riley has a “Neutral” rating and a $7.00 price objective on the stock. B. Riley also issued estimates for Avon Products’ Q1 2017 earnings at ($0.01) EPS, Q2 2017 earnings at $0.11 EPS, Q3 2017 earnings at $0.08 EPS, Q4 2017 earnings at $0.20 EPS, FY2017 earnings at $0.38 EPS and FY2018 earnings at $0.48 EPS.
Avon Products (NYSE:AVP) last issued its quarterly earnings results on Thursday, November 3rd. The company reported $0.02 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.03 by $0.01. The company earned $1.41 billion during the quarter, compared to analysts’ expectations of $1.42 billion. Avon Products had a negative return on equity of 2.30% and a negative net margin of 7.59%. The company’s revenue for the quarter was down 1.9% compared to the same quarter last year. During the same period in the prior year, the business posted ($0.11) EPS.
Other research analysts also recently issued reports about the company. Zacks Investment Research downgraded Avon Products from a “buy” rating to a “hold” rating in a research note on Monday. Deutsche Bank AG upped their price objective on Avon Products from $7.00 to $8.00 and gave the stock a “buy” rating in a research note on Wednesday, August 3rd. Finally, Piper Jaffray Cos. reiterated a “neutral” rating and set a $4.00 price objective on shares of Avon Products in a research note on Thursday, July 14th. Four research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $7.94.
Avon Products (NYSE:AVP) opened at 5.85 on Tuesday. The stock’s market cap is $2.56 billion. Avon Products has a 52 week low of $2.21 and a 52 week high of $6.96. The company has a 50-day moving average price of $6.15 and a 200-day moving average price of $4.95.
Institutional investors have recently made changes to their positions in the company. Shah Capital Management increased its position in shares of Avon Products by 13.0% in the third quarter. Shah Capital Management now owns 3,098,410 shares of the company’s stock worth $17,537,000 after buying an additional 356,267 shares during the period. BlackRock Inc. boosted its stake in shares of Avon Products by 26.4% in the first quarter. BlackRock Inc. now owns 227,347 shares of the company’s stock worth $1,094,000 after buying an additional 47,456 shares in the last quarter. Riverhead Capital Management LLC purchased a new stake in shares of Avon Products during the first quarter worth about $703,000. Mariner Wealth Advisors LLC purchased a new stake in shares of Avon Products during the first quarter worth about $370,000. Finally, UBS Asset Management Americas Inc. boosted its stake in shares of Avon Products by 72.0% in the first quarter. UBS Asset Management Americas Inc. now owns 2,378,483 shares of the company’s stock worth $11,440,000 after buying an additional 995,651 shares in the last quarter. 88.28% of the stock is currently owned by hedge funds and other institutional investors.
Avon Products Company Profile
Avon Products, Inc is a manufacturer and marketer of beauty and related products. The Company’s product categories are Beauty, and Fashion and Home. Beauty consists of skincare (which includes personal care), fragrance and color (cosmetics). Fashion and Home consists of fashion jewelry, watches, apparel, footwear, accessories, gift and decorative products, housewares, entertainment and leisure products, children’s products and nutritional products.
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