Estee Lauder Companies Inc. (EL) Raised to “Hold” at Zacks Investment Research
Estee Lauder Companies Inc. (NYSE:EL) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report issued on Wednesday.
According to Zacks, “Estimates have been revised upward since the last 7 days for the Estee Lauder stock. aggressive marketing investments and continued product innovation are encouraging. The company has been reporting higher top line and margins backed by its strategic initiatives. Going ahead, the company’s strategic initiatives to boost sales and the growing global beauty sector are expected to boost results. Though Estee Lauder expects growth opportunities in product categories in fiscal 2017, economic challenges will likely persist. slower retail growth in Hong Kong and China, a decline in spending by Russian and Brazilian travelers, the impact of the MERS virus on its travel retail business in Korea and unfavorable currency are expected to affect sales negatively. Hence the company remained cautious while providing its guidance for the year. “
EL has been the subject of several other research reports. Credit Agricole SA reissued a “buy” rating and set a $110.00 price objective on shares of Estee Lauder Companies in a report on Friday, September 16th. Goldman Sachs Group Inc. started coverage on Estee Lauder Companies in a report on Sunday, September 11th. They set a “buy” rating and a $105.00 price objective for the company. Vetr raised Estee Lauder Companies from a “hold” rating to a “buy” rating and set a $94.06 price objective for the company in a report on Tuesday, August 30th. Bank of America Corp. reissued a “buy” rating and set a $103.00 price objective on shares of Estee Lauder Companies in a report on Tuesday, August 23rd. Finally, Piper Jaffray Cos. reissued an “overweight” rating and set a $100.00 price objective on shares of Estee Lauder Companies in a report on Saturday, August 13th. Seven analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus price target of C$100.42.
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Shares of Estee Lauder Companies (NYSE:EL) opened at 87.67 on Wednesday. The company’s 50-day moving average is $88.15 and its 200 day moving average is $91.83. Estee Lauder Companies has a 52-week low of $80.18 and a 52-week high of $97.48. The company has a market cap of $32.06 billion, a PE ratio of 29.62 and a beta of 0.91.
Estee Lauder Companies (NYSE:EL) last posted its earnings results on Friday, August 19th. The company reported $0.25 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.40 by $0.15. The company had revenue of $2.65 billion for the quarter. Estee Lauder Companies had a net margin of 9.90% and a return on equity of 33.20%. The firm’s quarterly revenue was up 5.0% on a year-over-year basis. During the same period in the previous year, the firm earned $0.40 earnings per share. On average, analysts anticipate that Estee Lauder Companies will post ($0.07) EPS for the current year.
In other Estee Lauder Companies news, Chairman Ronald S. Lauder sold 500,000 shares of the business’s stock in a transaction that occurred on Thursday, September 1st. The stock was sold at an average price of C$88.91, for a total value of C$44,455,000.00. Following the completion of the sale, the chairman now owns 608,500 shares in the company, valued at C$54,101,735. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Charlene Barshefsky sold 2,216 shares of the business’s stock in a transaction that occurred on Monday, August 22nd. The shares were sold at an average price of C$91.39, for a total value of C$202,520.24. Following the completion of the sale, the director now owns 4,000 shares of the company’s stock, valued at approximately C$365,560. The disclosure for this sale can be found here. 16.98% of the stock is owned by company insiders.
A number of hedge funds have recently made changes to their positions in EL. Wendell David Associates Inc. increased its stake in shares of Estee Lauder Companies by 287.1% in the third quarter. Wendell David Associates Inc. now owns 13,348 shares of the company’s stock valued at $1,182,000 after buying an additional 9,900 shares during the last quarter. National Pension Service increased its position in shares of Estee Lauder Companies by 8.2% in the third quarter. National Pension Service now owns 171,338 shares of the company’s stock worth $15,174,000 after buying an additional 13,017 shares in the last quarter. Stock Yards Bank & Trust Co. increased its position in shares of Estee Lauder Companies by 810.9% in the third quarter. Stock Yards Bank & Trust Co. now owns 66,786 shares of the company’s stock worth $5,914,000 after buying an additional 59,454 shares in the last quarter. MSI Financial Services Inc increased its position in shares of Estee Lauder Companies by 14.0% in the third quarter. MSI Financial Services Inc now owns 4,186 shares of the company’s stock worth $371,000 after buying an additional 513 shares in the last quarter. Finally, Capstone Asset Management Co. increased its position in shares of Estee Lauder Companies by 6.3% in the third quarter. Capstone Asset Management Co. now owns 29,894 shares of the company’s stock worth $2,647,000 after buying an additional 1,760 shares in the last quarter. Hedge funds and other institutional investors own 55.38% of the company’s stock.
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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