B. Riley Cuts Coty Price Target to $14.00 (COTY)
B. Riley reduced their target price on shares of Coty (NYSE:COTY) from $16.00 to $14.00 in a research note issued on Friday. The firm currently has a “neutral” rating on the stock. B. Riley’s price target points to a potential downside of 19.49% from the company’s current price.
Coty (NYSE:COTY) traded down 1.09% during mid-day trading on Friday, hitting $17.20. 109,550 shares of the company’s stock traded hands. Coty has a 1-year low of $12.83 and a 1-year high of $18.95. The stock has a 50-day moving average of $17.49 and a 200-day moving average of $16.26. The company’s market cap is $6.526 billion.
Coty (NYSE:COTY) last issued its quarterly earnings data on Thursday, August 28th. The company reported $0.03 earnings per share for the quarter, missing the analysts’ consensus estimate of $0.05 by $0.02. The company had revenue of $1.04 billion for the quarter, compared to the consensus estimate of $1.06 billion. During the same quarter last year, the company posted $0.03 earnings per share. Coty’s revenue was down 1.6% compared to the same quarter last year. Analysts expect that Coty will post $0.83 EPS for the current fiscal year.
A number of other analysts have also recently weighed in on COTY. Analysts at Deutsche Bank reiterated a “buy” rating on shares of Coty in a research note on Wednesday, July 16th. They now have a $20.00 price target on the stock, up previously from $18.00. Analysts at BMO Capital Markets initiated coverage on shares of Coty in a research note on Monday, June 30th. They set an “outperform” rating and a $19.00 price target on the stock. Six equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $16.78.
Coty Inc is engaged in manufacturing, marketing and distribution of women’s and men’s fragrances, color cosmetics and skin and body care related products globally.
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