Oppenheimer Weighs in on The Estée Lauder Companies Inc.’s Q3 2023 Earnings (NYSE:EL)

The Estée Lauder Companies Inc. (NYSE:ELGet Rating) – Analysts at Oppenheimer reduced their Q3 2023 earnings estimates for shares of Estée Lauder Companies in a note issued to investors on Tuesday, November 15th. Oppenheimer analyst R. Parikh now expects that the company will earn $1.74 per share for the quarter, down from their previous estimate of $1.81. The consensus estimate for Estée Lauder Companies’ current full-year earnings is $5.38 per share. Oppenheimer also issued estimates for Estée Lauder Companies’ Q3 2023 earnings at $1.74 EPS, Q4 2023 earnings at $0.75 EPS, FY2023 earnings at $5.10 EPS and FY2023 earnings at $5.10 EPS.

Estée Lauder Companies (NYSE:ELGet Rating) last posted its earnings results on Thursday, August 18th. The company reported $0.42 EPS for the quarter, topping the consensus estimate of $0.32 by $0.10. The firm had revenue of $3.56 billion during the quarter, compared to analysts’ expectations of $3.48 billion. Estée Lauder Companies had a net margin of 12.66% and a return on equity of 41.46%. Estée Lauder Companies’s quarterly revenue was down 9.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.78 EPS.

Other research analysts have also recently issued reports about the stock. StockNews.com initiated coverage on shares of Estée Lauder Companies in a report on Wednesday, October 12th. They issued a “hold” rating for the company. Canaccord Genuity Group initiated coverage on shares of Estée Lauder Companies in a report on Thursday. They issued a “hold” rating and a $228.00 price objective for the company. Deutsche Bank Aktiengesellschaft decreased their price objective on shares of Estée Lauder Companies from $227.00 to $209.00 in a report on Thursday, November 3rd. Credit Suisse Group decreased their price objective on shares of Estée Lauder Companies from $260.00 to $215.00 and set an “outperform” rating for the company in a report on Thursday, November 3rd. Finally, Telsey Advisory Group decreased their price objective on shares of Estée Lauder Companies from $377.00 to $275.00 and set an “outperform” rating for the company in a report on Thursday, November 3rd. Seven equities research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $262.41.

Estée Lauder Companies Trading Up 2.4 %

Estée Lauder Companies stock opened at $228.16 on Thursday. The firm has a 50 day simple moving average of $220.04 and a 200-day simple moving average of $242.53. The company has a debt-to-equity ratio of 0.93, a current ratio of 1.68 and a quick ratio of 1.11. The stock has a market capitalization of $81.41 billion, a PE ratio of 38.09, a price-to-earnings-growth ratio of 4.46 and a beta of 0.96. Estée Lauder Companies has a 12-month low of $186.47 and a 12-month high of $374.20.

Hedge Funds Weigh In On Estée Lauder Companies

Several institutional investors have recently added to or reduced their stakes in the company. Core Alternative Capital lifted its holdings in Estée Lauder Companies by 23.7% during the 2nd quarter. Core Alternative Capital now owns 193 shares of the company’s stock valued at $49,000 after purchasing an additional 37 shares during the last quarter. Comprehensive Financial Consultants Institutional Inc. lifted its holdings in Estée Lauder Companies by 0.9% during the 2nd quarter. Comprehensive Financial Consultants Institutional Inc. now owns 4,491 shares of the company’s stock valued at $1,097,000 after purchasing an additional 38 shares during the last quarter. Peterson Wealth Services lifted its holdings in Estée Lauder Companies by 5.1% during the 2nd quarter. Peterson Wealth Services now owns 847 shares of the company’s stock valued at $216,000 after purchasing an additional 41 shares during the last quarter. Journey Advisory Group LLC lifted its holdings in Estée Lauder Companies by 3.4% during the 2nd quarter. Journey Advisory Group LLC now owns 1,344 shares of the company’s stock valued at $368,000 after purchasing an additional 44 shares during the last quarter. Finally, RFG Advisory LLC lifted its holdings in Estée Lauder Companies by 5.6% during the 2nd quarter. RFG Advisory LLC now owns 834 shares of the company’s stock valued at $226,000 after purchasing an additional 44 shares during the last quarter. 56.96% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, Director Wei Sun Christianson sold 1,056 shares of the firm’s stock in a transaction dated Monday, August 29th. The shares were sold at an average price of $261.52, for a total transaction of $276,165.12. Following the completion of the transaction, the director now directly owns 10,402 shares of the company’s stock, valued at approximately $2,720,331.04. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, Director Wei Sun Christianson sold 1,056 shares of the firm’s stock in a transaction dated Monday, August 29th. The shares were sold at an average price of $261.52, for a total transaction of $276,165.12. Following the completion of the transaction, the director now directly owns 10,402 shares of the company’s stock, valued at approximately $2,720,331.04. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Barry S. Sternlicht sold 4,736 shares of the firm’s stock in a transaction dated Thursday, August 25th. The stock was sold at an average price of $274.31, for a total transaction of $1,299,132.16. Following the transaction, the director now directly owns 30,982 shares of the company’s stock, valued at $8,498,672.42. The disclosure for this sale can be found here. Insiders have sold 39,727 shares of company stock worth $10,591,510 in the last ninety days. Insiders own 12.75% of the company’s stock.

Estée Lauder Companies Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 15th. Shareholders of record on Wednesday, November 30th will be given a $0.66 dividend. This represents a $2.64 annualized dividend and a yield of 1.16%. This is a positive change from Estée Lauder Companies’s previous quarterly dividend of $0.60. The ex-dividend date is Tuesday, November 29th. Estée Lauder Companies’s dividend payout ratio (DPR) is currently 40.07%.

About Estée Lauder Companies

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The Estée Lauder Companies Inc manufactures, markets, and sells skin care, makeup, fragrance, and hair care products worldwide. It offers a range of skin care products, including moisturizers, serums, cleansers, toners, body care, exfoliators, acne care and oil correctors, facial masks, cleansing devices, and sun care products; and makeup products, such as lipsticks, lip glosses, mascaras, foundations, eyeshadows, nail polishes, and powders, as well as compacts, brushes, and other makeup tools.

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Earnings History and Estimates for Estée Lauder Companies (NYSE:EL)

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