Coty (NYSE:COTY) Updates FY24 Earnings Guidance

Coty (NYSE:COTY) issued an update on its FY24 earnings guidance on Monday morning. The company provided earnings per share guidance of $0.44-$0.47 for the period, compared to the consensus earnings per share estimate of $0.45. Coty also updated its FY 2024 guidance to 0.470-0.470 EPS.

Coty Stock Down 3.0 %

COTY traded down $0.35 during trading hours on Tuesday, hitting $11.15. 7,543,550 shares of the company’s stock were exchanged, compared to its average volume of 3,996,872. The firm has a market cap of $9.98 billion, a P/E ratio of 31.94, a price-to-earnings-growth ratio of 6.49 and a beta of 1.83. Coty has a 12-month low of $9.02 and a 12-month high of $13.46. The company has a current ratio of 0.85, a quick ratio of 0.58 and a debt-to-equity ratio of 0.80. The firm has a 50 day moving average of $11.76 and a 200 day moving average of $11.61.

Coty (NYSE:COTY) last announced its quarterly earnings data on Monday, May 6th. The company reported $0.05 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.06 by ($0.01). Coty had a net margin of 5.39% and a return on equity of 11.91%. The company had revenue of $1.39 billion during the quarter, compared to analyst estimates of $1.37 billion. During the same quarter in the previous year, the business posted $0.19 earnings per share. The firm’s revenue was up 7.5% on a year-over-year basis. Analysts predict that Coty will post 0.45 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on COTY shares. Citigroup cut their price objective on shares of Coty from $13.00 to $12.00 and set a neutral rating on the stock in a report on Tuesday, April 16th. Canaccord Genuity Group began coverage on Coty in a report on Monday, April 15th. They set a buy rating and a $14.00 price target on the stock. Wells Fargo & Company increased their price objective on Coty from $11.00 to $12.00 and gave the stock an equal weight rating in a research report on Friday, February 9th. TheStreet upgraded shares of Coty from a c+ rating to a b- rating in a research report on Thursday, February 8th. Finally, DA Davidson lowered their price target on Coty from $17.50 to $16.50 and set a buy rating on the stock in a report on Tuesday. Eight investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, Coty presently has an average rating of Hold and an average price target of $13.14.

Insider Activity at Coty

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

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.