Estée Lauder Companies (NYSE:EL) Releases FY 2024 Earnings Guidance

Estée Lauder Companies (NYSE:EL) issued an update on its FY 2024 earnings guidance on Wednesday morning. The company provided earnings per share (EPS) guidance of 2.140-2.240 for the period, compared to the consensus estimate of 2.250. The company issued revenue guidance of $15.4 billion-$15.6 billion, compared to the consensus revenue estimate of $15.8 billion. Estée Lauder Companies also updated its FY24 guidance to $2.14-2.24 EPS.

Wall Street Analysts Forecast Growth

EL has been the subject of a number of recent research reports. Barclays reduced their price objective on Estée Lauder Companies from $150.00 to $140.00 and set an equal weight rating for the company in a research note on Friday. DA Davidson reissued a buy rating and issued a $191.00 price target on shares of Estée Lauder Companies in a report on Monday, April 22nd. Wells Fargo & Company lifted their target price on shares of Estée Lauder Companies from $155.00 to $175.00 and gave the company an overweight rating in a report on Tuesday, February 6th. Citigroup upgraded shares of Estée Lauder Companies from a neutral rating to a buy rating and upped their price objective for the stock from $160.00 to $175.00 in a research report on Tuesday, April 2nd. Finally, Bank of America upgraded Estée Lauder Companies from a neutral rating to a buy rating and raised their target price for the company from $160.00 to $170.00 in a research report on Thursday, March 28th. Seventeen equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Estée Lauder Companies has a consensus rating of Hold and an average price target of $160.92.

Estée Lauder Companies Trading Down 1.5 %

Shares of EL stock traded down $2.00 on Friday, hitting $132.94. 3,791,987 shares of the stock traded hands, compared to its average volume of 2,776,756. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.96 and a current ratio of 1.58. Estée Lauder Companies has a twelve month low of $102.22 and a twelve month high of $209.64. The firm’s 50-day moving average price is $145.88 and its two-hundred day moving average price is $138.18. The stock has a market capitalization of $47.66 billion, a PE ratio of 74.69, a PEG ratio of 3.56 and a beta of 1.07.

Estée Lauder Companies (NYSE:EL) last posted its quarterly earnings results on Wednesday, May 1st. The company reported $0.97 earnings per share for the quarter, beating the consensus estimate of $0.48 by $0.49. The business had revenue of $3.94 billion during the quarter, compared to analysts’ expectations of $3.92 billion. Estée Lauder Companies had a net margin of 4.18% and a return on equity of 13.08%. The business’s revenue for the quarter was up 5.0% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.47 EPS. As a group, analysts anticipate that Estée Lauder Companies will post 2.22 EPS for the current year.

Estée Lauder Companies Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 17th. Shareholders of record on Friday, May 31st will be given a $0.66 dividend. The ex-dividend date of this dividend is Thursday, May 30th. This represents a $2.64 dividend on an annualized basis and a yield of 1.99%. Estée Lauder Companies’s payout ratio is currently 148.31%.

About Estée Lauder Companies

The Estée Lauder Companies Inc manufactures, markets, and sells skin care, makeup, fragrance, and hair care products worldwide. It offers skin care products, including moisturizers, serums, cleansers, toners, body care, exfoliators, acne care and oil correctors, facial masks, and sun care products; and makeup products, such as lipsticks, lip glosses, mascaras, foundations, eyeshadows, nail polishes, and powders, as well as compacts, brushes, and other makeup tools.