Estee Lauder Companies Inc. (EL) Cut to Neutral at Piper Jaffray Cos.
Estee Lauder Companies Inc. (NYSE:EL) was downgraded by research analysts at Piper Jaffray Cos. from an “overweight” rating to a “neutral” rating in a research note issued on Thursday, The Fly reports.
EL has been the topic of a number of other research reports. Zacks Investment Research raised Estee Lauder Companies from a “sell” rating to a “hold” rating in a research report on Tuesday, September 13th. B. Riley reaffirmed a “neutral” rating and set a $94.00 price target on shares of Estee Lauder Companies in a research report on Sunday, August 28th. Berenberg Bank began coverage on Estee Lauder Companies in a research report on Friday, September 9th. They set a “buy” rating and a $105.00 price target on the stock. Stifel Nicolaus reaffirmed a “buy” rating and set a $105.00 price target on shares of Estee Lauder Companies in a research report on Friday, August 19th. Finally, Jefferies Group dropped their price target on Estee Lauder Companies from $98.00 to $95.00 and set a “hold” rating on the stock in a research report on Monday, August 22nd. Seven research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the stock. The company has an average rating of “Buy” and a consensus price target of C$100.97.
Shares of Estee Lauder Companies (NYSE:EL) traded down 0.03% during midday trading on Thursday, reaching $88.15. The company’s stock had a trading volume of 1,196,940 shares. The company has a 50-day moving average price of $88.52 and a 200-day moving average price of $92.04. Estee Lauder Companies has a 12 month low of $80.18 and a 12 month high of $97.48. The firm has a market cap of $32.24 billion, a price-to-earnings ratio of 29.78 and a beta of 0.91.
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Estee Lauder Companies (NYSE:EL) last issued its earnings results on Friday, August 19th. The company reported $0.25 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.40 by $0.15. Estee Lauder Companies had a return on equity of 33.20% and a net margin of 9.90%. The company had revenue of $2.65 billion for the quarter. During the same quarter in the prior year, the business posted $0.40 EPS. The company’s revenue was up 5.0% on a year-over-year basis. Equities analysts expect that Estee Lauder Companies will post ($0.07) earnings per share for the current year.
The company also recently declared a quarterly dividend, which was paid on Thursday, September 15th. Investors of record on Wednesday, August 31st were paid a $0.30 dividend. The ex-dividend date of this dividend was Monday, August 29th. This represents a $1.20 annualized dividend and a yield of 1.36%. Estee Lauder Companies’s dividend payout ratio (DPR) is presently 40.40%.
In other Estee Lauder Companies news, EVP Gregory Polcer sold 15,000 shares of Estee Lauder Companies stock in a transaction on Thursday, August 18th. The stock was sold at an average price of C$95.00, for a total value of C$1,425,000.00. Following the completion of the transaction, the executive vice president now directly owns 84,909 shares of the company’s stock, valued at approximately C$8,066,355. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Chairman Ronald S. Lauder sold 500,000 shares of Estee Lauder Companies stock in a transaction on Thursday, September 1st. The shares were sold at an average price of C$88.91, for a total value of C$44,455,000.00. Following the completion of the transaction, the chairman now directly owns 608,500 shares of the company’s stock, valued at C$54,101,735. The disclosure for this sale can be found here. 16.98% of the stock is owned by corporate insiders.
Institutional investors have recently made changes to their positions in the stock. Mycio Wealth Partners LLC boosted its position in shares of Estee Lauder Companies by 42.8% in the second quarter. Mycio Wealth Partners LLC now owns 1,144 shares of the company’s stock valued at $104,000 after buying an additional 343 shares in the last quarter. Harel Insurance Investments & Financial Services Ltd. bought a new position in shares of Estee Lauder Companies during the second quarter valued at $110,000. Creative Planning boosted its position in shares of Estee Lauder Companies by 151.1% in the second quarter. Creative Planning now owns 1,273 shares of the company’s stock valued at $116,000 after buying an additional 766 shares in the last quarter. Bessemer Group Inc. boosted its position in shares of Estee Lauder Companies by 71.8% in the second quarter. Bessemer Group Inc. now owns 1,347 shares of the company’s stock valued at $123,000 after buying an additional 563 shares in the last quarter. Finally, Advisory Services Network LLC boosted its position in shares of Estee Lauder Companies by 1.1% in the third quarter. Advisory Services Network LLC now owns 1,385 shares of the company’s stock valued at $123,000 after buying an additional 15 shares in the last quarter. 55.36% of the stock is owned by hedge funds and other institutional investors.
Estee Lauder Companies Company Profile
The Estee Lauder Companies Inc, is a manufacturer and marketer of skin care, makeup, fragrance and hair care products. The Company’s products are sold in over 150 countries and territories under a number of brand names, including Estee Lauder, Aramis, Clinique, Origins, Le Labo, M.A.C, Bobbi Brown, La Mer and Aveda.
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