Coty (NYSE:COTY) Announces Quarterly Earnings Results

Coty (NYSE:COTY) announced its earnings results on Monday. The company reported $0.05 EPS for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.01), RTT News reports. The firm had revenue of $1.39 billion for the quarter, compared to analyst estimates of $1.37 billion. Coty had a net margin of 5.39% and a return on equity of 11.91%. Coty’s revenue was up 7.5% compared to the same quarter last year. During the same period in the previous year, the company earned $0.19 EPS. Coty updated its FY24 guidance to $0.44-$0.47 EPS.

Coty Trading Down 0.9 %

Shares of COTY traded down $0.10 during midday trading on Monday, hitting $11.50. 4,507,700 shares of the stock were exchanged, compared to its average volume of 3,964,183. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.58 and a current ratio of 0.85. The firm has a market cap of $10.29 billion, a P/E ratio of 33.14, a P/E/G ratio of 6.49 and a beta of 1.83. Coty has a 52-week low of $9.02 and a 52-week high of $13.46. The stock has a fifty day simple moving average of $11.80 and a 200 day simple moving average of $11.60.

Analysts Set New Price Targets

A number of research analysts have weighed in on COTY shares. Barclays decreased their target price on shares of Coty from $13.00 to $12.00 and set an “equal weight” rating on the stock in a research note on Friday, April 12th. Royal Bank of Canada reissued an “outperform” rating and set a $14.00 price objective on shares of Coty in a research note on Friday, February 9th. DA Davidson reaffirmed a “buy” rating and issued a $17.50 target price on shares of Coty in a research note on Monday, April 22nd. Canaccord Genuity Group initiated coverage on shares of Coty in a research report on Monday, April 15th. They set a “buy” rating and a $14.00 price target on the stock. Finally, TD Cowen dropped their price objective on shares of Coty from $16.00 to $13.00 and set a “buy” rating for the company in a report on Wednesday, April 17th. 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 an average rating of “Hold” and an average price target of $13.20.

Insider Activity at Coty

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

About Coty

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.