Short Interest in Avon Products Rises By 40.4% (AVP)
Shares of Avon Products (NYSE:AVP) saw a significant increase in short interest during the month of July. As of July 31st, there was short interest totalling 36,462,875 shares, an increase of 40.4% from the July 15th total of 25,969,216 shares, AR Network reports. Based on an average trading volume of 5,859,771 shares, the days-to-cover ratio is presently 6.2 days. Currently, 8.4% of the company’s shares are sold short.
Several analysts have recently commented on the stock. Analysts at BMO Capital Markets cut their price target on shares of Avon Products from $15.00 to $14.00 in a research note on Wednesday, August 6th. Separately, analysts at Wedbush cut their price target on shares of Avon Products from $15.00 to $14.00 in a research note on Friday, August 1st. Finally, analysts at Bernstein raised their price target on shares of Avon Products from $15.00 to $16.00 in a research note on Friday, August 1st. Seven research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Avon Products has an average rating of “Hold” and a consensus target price of $17.23.
Shares of Avon Products (NYSE:AVP) opened at 13.69 on Thursday. Avon Products has a 52 week low of $12.80 and a 52 week high of $22.86. The stock has a 50-day moving average of $13.93 and a 200-day moving average of $14.45. The company’s market cap is $5.950 billion.
Avon Products (NYSE:AVP) last issued its quarterly earnings data on Thursday, July 31st. The company reported $0.20 earnings per share for the quarter, missing the analysts’ consensus estimate of $0.21 by $0.01. The company had revenue of $2.20 billion for the quarter, compared to the consensus estimate of $2.23 billion. During the same quarter last year, the company posted $0.29 earnings per share. Avon Products’s revenue was down 12.8% compared to the same quarter last year. On average, analysts predict that Avon Products will post $0.81 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Tuesday, September 2nd. Shareholders of record on Thursday, August 14th will be paid a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a dividend yield of 1.74%. The ex-dividend date is Tuesday, August 12th.
Avon Products, Inc (NYSE:AVP) is a manufacturer and marketer of beauty and related products.
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