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

Coty (NYSE:COTY) announced its quarterly earnings data on Monday. The company reported $0.05 EPS for the quarter, missing the consensus estimate of $0.06 by ($0.01), RTT News reports. 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 analyst estimates of $1.37 billion. During the same quarter last year, the business earned $0.19 EPS. The firm’s revenue for the quarter 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

Coty stock opened at $11.10 on Wednesday. Coty has a 1 year low of $9.02 and a 1 year high of $13.46. The firm has a 50 day moving average price of $11.72 and a 200 day moving average price of $11.62. The company has a market cap of $9.94 billion, a price-to-earnings ratio of 31.72, a PEG ratio of 6.49 and a beta of 1.83. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.58 and a current ratio of 0.85.

Insider Activity at Coty

In related news, Director Robert S. Singer sold 30,000 shares of the business’s stock in a transaction that occurred on Wednesday, March 6th. The shares were sold at an average price of $12.70, for a total value of $381,000.00. Following the completion of the sale, the director now directly owns 120,000 shares in the company, valued at $1,524,000. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, Director Robert S. Singer sold 90,000 shares of the business’s stock in a transaction that occurred on 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 directly owns 169,982 shares in the company, valued at $2,134,973.92. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Robert S. Singer sold 30,000 shares of the business’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 sale, 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. 5.80% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the stock. Canaccord Genuity Group assumed coverage on shares of Coty in a research report on Monday, April 15th. They set a “buy” rating and a $14.00 target price for the company. DA Davidson cut their target price on shares of Coty from $17.50 to $16.50 and set a “buy” rating for the company in a research report on Tuesday. Citigroup cut their target price on shares of Coty from $13.00 to $12.00 and set a “neutral” rating for the company in a research report on Tuesday, April 16th. Canaccord Genuity Group assumed coverage on shares of Coty in a research report on Monday, April 15th. They set a “buy” rating and a $14.00 target price for the company. Finally, Barclays cut their target price on shares of Coty from $13.00 to $12.00 and set an “equal weight” rating for the company in a research report on Friday, April 12th. Eight investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $13.14.

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.