Jefferies Financial Group Analysts Reduce Earnings Estimates for Coty Inc. (NYSE:COTY)

Coty Inc. (NYSE:COTYGet Rating) – Equities research analysts at Jefferies Financial Group cut their Q2 2023 earnings estimates for shares of Coty in a note issued to investors on Tuesday, April 19th. Jefferies Financial Group analyst S. Wissink now expects that the company will earn $0.10 per share for the quarter, down from their previous forecast of $0.11. Jefferies Financial Group also issued estimates for Coty’s FY2023 earnings at $0.28 EPS.

COTY has been the topic of a number of other research reports. DA Davidson upgraded Coty from a “neutral” rating to a “buy” rating in a research report on Friday, January 21st. Raymond James decreased their target price on Coty from $13.00 to $12.00 and set an “outperform” rating on the stock in a research report on Monday. StockNews.com began coverage on Coty in a research report on Thursday, March 31st. They issued a “hold” rating on the stock. Zacks Investment Research upgraded Coty from a “hold” rating to a “buy” rating and set a $10.00 target price on the stock in a research report on Thursday, January 20th. Finally, JPMorgan Chase & Co. decreased their target price on Coty from $12.00 to $10.00 and set a “neutral” rating on the stock in a research report on Wednesday, March 30th. Five research analysts have rated the stock with a hold rating, six have issued a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus price target of $12.21.

Shares of COTY stock opened at $8.61 on Thursday. The company has a market capitalization of $7.05 billion, a P/E ratio of 123.00 and a beta of 2.47. The business’s 50 day moving average is $8.77 and its two-hundred day moving average is $9.13. The company has a current ratio of 0.75, a quick ratio of 0.55 and a debt-to-equity ratio of 1.33. Coty has a 12-month low of $7.24 and a 12-month high of $11.12.

Coty (NYSE:COTYGet Rating) last issued its quarterly earnings results on Tuesday, February 8th. The company reported $0.17 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.12 by $0.05. The company had revenue of $1.58 billion for the quarter, compared to the consensus estimate of $1.60 billion. Coty had a return on equity of 6.43% and a net margin of 2.69%. Coty’s revenue for the quarter was up 11.5% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.17 earnings per share.

Several institutional investors have recently added to or reduced their stakes in COTY. Nisa Investment Advisors LLC purchased a new position in shares of Coty in the 4th quarter worth about $41,000. First Quadrant L P CA purchased a new position in shares of Coty in the 4th quarter worth about $42,000. NN Investment Partners Holdings N.V. purchased a new position in shares of Coty in the 4th quarter worth about $43,000. Amplius Wealth Advisors LLC acquired a new stake in shares of Coty in the fourth quarter valued at about $46,000. Finally, Atlas Capital Advisors LLC acquired a new stake in shares of Coty in the fourth quarter valued at about $52,000. Institutional investors own 34.68% of the company’s stock.

In other news, Director Beatrice Ballini bought 7,000 shares of the stock in a transaction on Thursday, March 10th. The shares were bought at an average price of $7.87 per share, with a total value of $55,090.00. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Bretten Gordon Von bought 12,392 shares of Coty stock in a transaction that occurred on Thursday, March 10th. The shares were acquired at an average price of $7.87 per share, for a total transaction of $97,525.04. The disclosure for this purchase can be found here. Insiders have acquired a total of 37,692 shares of company stock valued at $290,907 over the last ninety days. 3.10% of the stock is owned by company insiders.

Coty Company Profile (Get Rating)

Coty Inc, together with its subsidiaries, engages in the manufacture, marketing, distribution, and sale of beauty products worldwide. The company provides prestige fragrances, skin care, and color cosmetics products through prestige retailers, including perfumeries, department stores, e-retailers, direct-to-consumer websites, and duty-free shops under the Alexander McQueen, Burberry, Bottega Veneta, Calvin Klein, Cavalli, Chloe, Davidoff, Escada, Gucci, Hugo Boss, Jil Sander, Joop!, Kylie Jenner, Lacoste, Lancaster, Marc Jacobs, Miu Miu, Nikos, philosophy, Kim Kardashian West, and Tiffany & Co brands.

Further Reading

Earnings History and Estimates for Coty (NYSE:COTY)

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