Estée Lauder Companies (NYSE:EL) Updates 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 Trading Down 1.5 %

Shares of NYSE:EL traded down $2.00 during midday trading on Friday, reaching $132.94. 3,791,987 shares of the company’s stock were exchanged, compared to its average volume of 2,776,756. The stock has a market cap of $47.66 billion, a price-to-earnings ratio of 74.69, a P/E/G ratio of 3.56 and a beta of 1.07. Estée Lauder Companies has a fifty-two week low of $102.22 and a fifty-two week high of $209.64. The firm’s 50 day simple moving average is $145.88 and its two-hundred day simple moving average is $138.18. 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 (NYSE:EL) last announced its quarterly earnings results on Wednesday, May 1st. The company reported $0.97 earnings per share for the quarter, beating analysts’ consensus estimates of $0.48 by $0.49. The business had revenue of $3.94 billion during the quarter, compared to analysts’ expectations of $3.92 billion. Estée Lauder Companies had a net margin of 4.18% and a return on equity of 13.08%. The business’s revenue for the quarter was up 5.0% on a year-over-year basis. During the same period last year, the business earned $0.47 earnings per share. As a group, sell-side analysts forecast that Estée Lauder Companies will post 2.22 EPS for the current fiscal year.

Estée Lauder Companies Announces Dividend

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 paid a dividend of $0.66 per share. This represents a $2.64 dividend on an annualized basis and a yield of 1.99%. The ex-dividend date of this dividend is Thursday, May 30th. Estée Lauder Companies’s dividend payout ratio (DPR) is 148.31%.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the company. Wells Fargo & Company boosted their price objective on Estée Lauder Companies from $155.00 to $175.00 and gave the company an overweight rating in a report on Tuesday, February 6th. DA Davidson reissued a buy rating and set a $191.00 price target on shares of Estée Lauder Companies in a research report on Monday, April 22nd. Citigroup upgraded shares of Estée Lauder Companies from a neutral rating to a buy rating and lifted their price objective for the company from $160.00 to $175.00 in a report on Tuesday, April 2nd. Barclays reduced their target price on shares of Estée Lauder Companies from $150.00 to $140.00 and set an equal weight rating on the stock in a report on Friday. Finally, Royal Bank of Canada boosted their price target on shares of Estée Lauder Companies from $115.00 to $131.00 and gave the stock a sector perform rating in a research note on Tuesday, February 6th. Seventeen investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of Hold and a consensus target price of $160.92.

About Estée Lauder Companies

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.