Coty (NYSE:COTY) Updates 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 recently weighed in on the company. TheStreet upgraded Coty from a c+ rating to a b- rating in a report on Thursday, February 8th. DA Davidson lowered their price objective on shares of Coty from $17.50 to $16.50 and set a buy rating for the company in a research report on Tuesday. Canaccord Genuity Group initiated coverage on shares of Coty in a report on Monday, April 15th. They issued a buy rating and a $14.00 target price on the stock. Citigroup lowered their target price on Coty from $13.00 to $12.00 and set a neutral rating for the company in a report on Tuesday, April 16th. Finally, Canaccord Genuity Group assumed coverage on Coty in a research note on Monday, April 15th. They issued a buy rating and a $14.00 target price on the stock. Eight research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of Hold and an average price target of $13.14.

Coty Stock Performance

Coty stock traded up $0.31 during mid-day trading on Thursday, reaching $11.20. The company had a trading volume of 996,771 shares, compared to its average volume of 4,021,515. The company has a 50 day moving average of $11.68 and a 200-day moving average of $11.61. Coty has a 52 week low of $9.02 and a 52 week high of $13.46. The company has a quick ratio of 0.58, a current ratio of 0.85 and a debt-to-equity ratio of 0.80. The firm has a market cap of $10.03 billion, a price-to-earnings ratio of 47.33, a PEG ratio of 6.49 and a beta of 1.83.

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

Insider Activity at Coty

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