Coty Inc (NYSE:COTY) – Jefferies Financial Group cut their Q2 2019 EPS estimates for shares of Coty in a research report issued on Wednesday, January 16th. Jefferies Financial Group analyst S. Wissink now forecasts that the company will post earnings per share of $0.20 for the quarter, down from their previous estimate of $0.21. Jefferies Financial Group currently has a “Hold” rating and a $10.00 target price on the stock. Jefferies Financial Group also issued estimates for Coty’s Q3 2019 earnings at $0.15 EPS, FY2019 earnings at $0.63 EPS, Q2 2020 earnings at $0.21 EPS, Q3 2020 earnings at $0.15 EPS, Q4 2020 earnings at $0.17 EPS and FY2020 earnings at $0.60 EPS.
Other research analysts also recently issued reports about the company. Zacks Investment Research raised Coty from a “sell” rating to a “hold” rating in a research note on Monday, November 19th. TheStreet downgraded Coty from a “c-” rating to a “d+” rating in a research note on Friday, December 7th. Wells Fargo & Co dropped their price target on Coty from $11.00 to $9.00 and set a “hold” rating on the stock in a research note on Wednesday, November 7th. Morgan Stanley downgraded Coty from an “overweight” rating to a “hold” rating and dropped their price target for the stock from $14.50 to $10.00 in a research note on Wednesday, November 7th. Finally, JPMorgan Chase & Co. raised Coty from an “underweight” rating to a “neutral” rating and set a $7.00 price target on the stock in a research note on Friday, January 4th. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating and five have issued a buy rating to the stock. Coty currently has a consensus rating of “Hold” and an average price target of $12.41.
COTY stock opened at $7.53 on Friday. Coty has a fifty-two week low of $5.91 and a fifty-two week high of $21.68. The company has a debt-to-equity ratio of 0.90, a quick ratio of 0.66 and a current ratio of 0.99. The company has a market cap of $5.58 billion, a P/E ratio of 10.91, a PEG ratio of 1.67 and a beta of 0.71.
Coty (NYSE:COTY) last posted its quarterly earnings results on Wednesday, November 7th. The company reported $0.11 earnings per share for the quarter, topping analysts’ consensus estimates of $0.07 by $0.04. Coty had a positive return on equity of 5.72% and a negative net margin of 1.75%. The business had revenue of $2.03 billion for the quarter, compared to the consensus estimate of $2.17 billion. During the same period in the prior year, the business earned $0.10 EPS. The firm’s revenue for the quarter was down 9.2% on a year-over-year basis.
In other news, major shareholder Cosmetics B.V. Jab acquired 1,470,000 shares of Coty stock in a transaction on Monday, November 19th. The stock was acquired at an average cost of $9.23 per share, with a total value of $13,568,100.00. Following the completion of the acquisition, the insider now owns 299,578,041 shares in the company, valued at $2,765,105,318.43. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Robert S. Singer acquired 45,000 shares of Coty stock in a transaction on Thursday, November 15th. The shares were purchased at an average cost of $8.30 per share, with a total value of $373,500.00. Following the completion of the acquisition, the director now owns 235,000 shares of the company’s stock, valued at approximately $1,950,500. The disclosure for this purchase can be found here. Insiders have acquired a total of 11,023,447 shares of company stock valued at $97,704,004 over the last three months. Corporate insiders own 1.20% of the company’s stock.
A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Dimensional Fund Advisors LP lifted its position in shares of Coty by 3.8% during the second quarter. Dimensional Fund Advisors LP now owns 3,726,595 shares of the company’s stock worth $52,541,000 after acquiring an additional 135,658 shares in the last quarter. FMR LLC lifted its position in shares of Coty by 31.5% during the second quarter. FMR LLC now owns 54,828,166 shares of the company’s stock worth $773,077,000 after acquiring an additional 13,121,191 shares in the last quarter. United Services Automobile Association lifted its position in shares of Coty by 5.4% during the second quarter. United Services Automobile Association now owns 1,379,650 shares of the company’s stock worth $19,453,000 after acquiring an additional 70,471 shares in the last quarter. OppenheimerFunds Inc. lifted its position in shares of Coty by 32.9% during the second quarter. OppenheimerFunds Inc. now owns 57,309 shares of the company’s stock worth $808,000 after acquiring an additional 14,199 shares in the last quarter. Finally, Bank of America Corp DE lifted its position in shares of Coty by 7.6% during the second quarter. Bank of America Corp DE now owns 1,288,319 shares of the company’s stock worth $18,165,000 after acquiring an additional 90,962 shares in the last quarter. 66.19% of the stock is owned by institutional investors and hedge funds.
Coty Inc, together with its subsidiaries, manufactures, markets, distributes, and sells beauty products worldwide. It operates in three segments: Luxury, Consumer Beauty, and Professional Beauty. The Luxury segment offers prestige fragrances, and skincare and cosmetics products through various retailers, including perfumeries, department stores, and duty-free shops under the Alexander McQueen, Balenciaga, Burberry, Bottega Veneta, Calvin Klein, Cavalli, Chloe, Davidoff, Escada, Gucci, Hugo Boss, Jil Sander, Joop!, Lacoste, Lancaster, Marc Jacobs, Miu Miu, philosophy, Stella McCartney, and Tiffany & Co brands.
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