Analysts forecast that Coty Inc (NYSE:COTY) will announce $2.32 billion in sales for the current quarter, according to Zacks. Six analysts have issued estimates for Coty’s earnings, with the lowest sales estimate coming in at $2.23 billion and the highest estimate coming in at $2.39 billion. Coty posted sales of $2.24 billion in the same quarter last year, which suggests a positive year over year growth rate of 3.6%. The firm is scheduled to announce its next earnings results on Tuesday, August 28th.
According to Zacks, analysts expect that Coty will report full year sales of $9.41 billion for the current fiscal year, with estimates ranging from $9.33 billion to $9.49 billion. For the next financial year, analysts expect that the business will report sales of $9.47 billion per share, with estimates ranging from $9.09 billion to $9.76 billion. Zacks Investment Research’s sales calculations are an average based on a survey of analysts that follow Coty.
Coty (NYSE:COTY) last posted its quarterly earnings data on Wednesday, May 9th. The company reported $0.13 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.12 by $0.01. The firm had revenue of $2.22 billion for the quarter, compared to the consensus estimate of $2.17 billion. Coty had a positive return on equity of 4.31% and a negative net margin of 3.13%. The business’s revenue for the quarter was up 9.4% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.15 EPS.
A number of equities analysts have recently weighed in on the company. Zacks Investment Research upgraded Coty from a “sell” rating to a “hold” rating in a report on Tuesday, June 26th. Barclays set a $16.00 target price on Coty and gave the company a “hold” rating in a report on Thursday, May 10th. Morgan Stanley dropped their target price on Coty from $18.00 to $17.00 and set an “equal weight” rating on the stock in a report on Thursday, June 21st. Citigroup set a $18.00 target price on Coty and gave the company a “buy” rating in a report on Thursday, May 31st. Finally, DA Davidson dropped their target price on Coty from $19.50 to $15.50 and set a “neutral” rating on the stock in a report on Friday, May 11th. Three investment analysts have rated the stock with a sell rating, nine have given a hold rating and six have given a buy rating to the company. Coty presently has a consensus rating of “Hold” and an average target price of $17.96.
Coty traded down $0.01, hitting $14.16, on Friday, according to Marketbeat. 2,743,067 shares of the company were exchanged, compared to its average volume of 5,258,803. The company has a market cap of $10.62 billion, a PE ratio of 22.48, a PEG ratio of 1.45 and a beta of 0.30. Coty has a twelve month low of $12.92 and a twelve month high of $21.68. The company has a current ratio of 0.99, a quick ratio of 0.67 and a debt-to-equity ratio of 0.80.
The company also recently declared a quarterly dividend, which was paid on Thursday, June 14th. Investors of record on Thursday, May 31st were paid a $0.125 dividend. The ex-dividend date of this dividend was Wednesday, May 30th. This represents a $0.50 annualized dividend and a dividend yield of 3.53%. Coty’s payout ratio is 79.37%.
In other news, insider Daniel E. Ramos purchased 46,700 shares of the stock in a transaction that occurred on Tuesday, May 15th. The stock was acquired at an average price of $14.34 per share, with a total value of $669,678.00. Following the purchase, the insider now owns 89,815 shares in the company, valued at approximately $1,287,947.10. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Robert S. Singer purchased 15,000 shares of the stock in a transaction that occurred on Friday, May 11th. The stock was purchased at an average cost of $14.12 per share, with a total value of $211,800.00. Following the purchase, the director now owns 155,000 shares in the company, valued at approximately $2,188,600. The disclosure for this purchase can be found here. In the last three months, insiders purchased 81,700 shares of company stock valued at $1,167,878. 1.00% of the stock is currently owned by company insiders.
Institutional investors have recently made changes to their positions in the business. Norinchukin Bank The boosted its position in Coty by 20.1% during the first quarter. Norinchukin Bank The now owns 48,465 shares of the company’s stock worth $887,000 after purchasing an additional 8,104 shares during the period. BlackRock Inc. boosted its position in Coty by 0.4% during the first quarter. BlackRock Inc. now owns 29,143,968 shares of the company’s stock worth $533,336,000 after purchasing an additional 121,163 shares during the period. JPMorgan Chase & Co. boosted its position in Coty by 4.1% during the first quarter. JPMorgan Chase & Co. now owns 16,040,453 shares of the company’s stock worth $293,542,000 after purchasing an additional 636,583 shares during the period. PNC Financial Services Group Inc. boosted its position in Coty by 15.5% during the first quarter. PNC Financial Services Group Inc. now owns 33,010 shares of the company’s stock worth $606,000 after purchasing an additional 4,418 shares during the period. Finally, Hsbc Holdings PLC boosted its position in Coty by 174.7% during the first quarter. Hsbc Holdings PLC now owns 785,080 shares of the company’s stock worth $14,367,000 after purchasing an additional 499,276 shares during the period. 65.65% of the stock is owned by hedge funds and other institutional investors.
Coty Inc, together with its subsidiaries, manufactures, markets, sells, and distributes beauty products worldwide. It operates in three segments: Consumer Beauty, Luxury, and Professional Beauty. The Consumer Beauty segment offers color cosmetics, retail hair coloring and styling products, body care products, and mass fragrances primarily through hypermarkets, supermarkets, drug stores and pharmacies, mid-tier department stores, and traditional food and drug retailers, as well as own branded e-commerce and direct to consumer Websites.
Get a free copy of the Zacks research report on Coty (COTY)
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Coty Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Coty and related companies with MarketBeat.com's FREE daily email newsletter.