Coty (NYSE:COTY) Releases FY 2024 Earnings Guidance

Coty (NYSE:COTY) issued an update on its FY 2024 earnings guidance on Monday morning. The company provided earnings per share guidance of 0.470-0.470 for the period, compared to the consensus earnings per share estimate of 0.450. The company issued revenue guidance of -. Coty also updated its FY24 guidance to $0.44-$0.47 EPS.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the company. Citigroup decreased their price objective on Coty from $13.00 to $12.00 and set a neutral rating on the stock in a research report on Tuesday, April 16th. TheStreet upgraded Coty from a c+ rating to a b- rating in a report on Thursday, February 8th. DA Davidson lowered their price target on Coty from $17.50 to $16.50 and set a buy rating for the company in a research report on Tuesday. Wells Fargo & Company boosted their price objective on shares of Coty from $11.00 to $12.00 and gave the company an equal weight rating in a research report on Friday, February 9th. Finally, Royal Bank of Canada restated an outperform rating and issued a $14.00 target price on shares of Coty in a report on Friday, February 9th. Eight investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of Hold and an average price target of $13.14.

Coty Trading Down 3.0 %

Shares of NYSE:COTY traded down $0.35 during trading on Tuesday, reaching $11.15. 7,543,550 shares of the company were exchanged, compared to its average volume of 3,996,872. The company has a debt-to-equity ratio of 0.80, a current ratio of 0.85 and a quick ratio of 0.58. The firm has a market capitalization of $9.98 billion, a PE ratio of 31.94, a P/E/G ratio of 6.49 and a beta of 1.83. The business’s fifty day simple moving average is $11.76 and its 200-day simple moving average is $11.61. Coty has a 12-month low of $9.02 and a 12-month high of $13.46.

Coty (NYSE:COTY) last released its quarterly earnings data on Monday, May 6th. The company reported $0.05 EPS for the quarter, missing the consensus estimate of $0.06 by ($0.01). Coty had a return on equity of 11.91% and a net margin of 5.39%. The firm had revenue of $1.39 billion for the quarter, compared to analysts’ expectations of $1.37 billion. During the same quarter in the previous year, the business earned $0.19 earnings per share. The company’s revenue for the quarter was up 7.5% compared to the same quarter last year. On average, research analysts anticipate that Coty will post 0.45 EPS for the current year.

Insider Buying and Selling

In other Coty news, Director Robert S. Singer sold 90,000 shares of the firm’s stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $12.56, for a total transaction of $1,130,400.00. Following the transaction, the director now owns 169,982 shares of the company’s stock, valued at approximately $2,134,973.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, Director Robert S. Singer sold 30,000 shares of the business’s stock in a transaction on Wednesday, March 6th. The stock was sold at an average price of $12.70, for a total value of $381,000.00. Following the completion of the transaction, the director now directly owns 120,000 shares of the company’s stock, valued at approximately $1,524,000. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Robert S. Singer sold 90,000 shares of the firm’s stock in a transaction dated 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 sale, the director now directly owns 169,982 shares in the company, valued at approximately $2,134,973.92. The disclosure for this sale can be found here. 5.80% of the stock is owned by insiders.

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.