Estée Lauder Companies (NYSE:EL) Issues FY24 Earnings Guidance

Estée Lauder Companies (NYSE:EL) updated its FY24 earnings guidance on Wednesday. The company provided EPS guidance of $2.14-2.24 for the period, compared to the consensus EPS estimate of $2.25. The company issued revenue guidance of ~$15.4-15.6 billion, compared to the consensus revenue estimate of $15.81 billion. Estée Lauder Companies also updated its FY 2024 guidance to 2.140-2.240 EPS.

Estée Lauder Companies Stock Down 1.5 %

Shares of NYSE EL traded down $2.00 during midday trading on Friday, hitting $132.94. The company’s stock had a trading volume of 3,791,987 shares, compared to its average volume of 2,776,756. The firm has a market capitalization of $47.66 billion, a price-to-earnings ratio of 74.69, a price-to-earnings-growth ratio of 3.56 and a beta of 1.07. The company has a debt-to-equity ratio of 1.26, a current ratio of 1.58 and a quick ratio of 0.96. Estée Lauder Companies has a 1 year low of $102.22 and a 1 year high of $209.64. The business’s fifty day simple moving average is $145.88 and its two-hundred day simple moving average is $138.18.

Estée Lauder Companies (NYSE:EL) last issued its earnings results on Wednesday, May 1st. The company reported $0.97 EPS for the quarter, topping analysts’ consensus estimates of $0.48 by $0.49. The firm had revenue of $3.94 billion during the quarter, compared to the consensus estimate of $3.92 billion. Estée Lauder Companies had a net margin of 4.18% and a return on equity of 13.08%. The company’s revenue was up 5.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.47 earnings per share. On average, equities analysts predict that Estée Lauder Companies will post 2.22 EPS for the current year.

Estée Lauder Companies Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, June 17th. Shareholders of record on Friday, May 31st will be given a dividend of $0.66 per share. This represents a $2.64 annualized dividend and a yield of 1.99%. The ex-dividend date is Thursday, May 30th. Estée Lauder Companies’s dividend payout ratio (DPR) is 148.31%.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on EL. Canaccord Genuity Group decreased their target price on shares of Estée Lauder Companies from $140.00 to $131.00 and set a hold rating for the company in a research note on Thursday. Wells Fargo & Company increased their price target on shares of Estée Lauder Companies from $155.00 to $175.00 and gave the stock an overweight rating in a report on Tuesday, February 6th. Oppenheimer reaffirmed a market perform rating on shares of Estée Lauder Companies in a report on Monday, April 15th. Royal Bank of Canada increased their target price on shares of Estée Lauder Companies from $115.00 to $131.00 and gave the company a sector perform rating in a report on Tuesday, February 6th. Finally, Morgan Stanley lowered shares of Estée Lauder Companies from an overweight rating to an equal weight rating and lowered their price target for the company from $164.00 to $140.00 in a research report on Friday. Seventeen investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of Hold and an average price target of $160.92.

Estée Lauder Companies Company Profile

The Estée Lauder Companies Inc manufactures, markets, and sells skin care, makeup, fragrance, and hair care products worldwide. It offers skin care products, including moisturizers, serums, cleansers, toners, body care, exfoliators, acne care and oil correctors, facial masks, 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.