$2.17 Billion in Sales Expected for Coty Inc. (COTY) This Quarter
Equities analysts expect Coty Inc. (NYSE:COTY) to announce $2.17 billion in sales for the current quarter, Zacks Investment Research reports. Six analysts have made estimates for Coty’s earnings, with the lowest sales estimate coming in at $2.05 billion and the highest estimate coming in at $2.24 billion. Coty posted sales of $1.08 billion during the same quarter last year, which would suggest a positive year-over-year growth rate of 100.9%. The business is expected to issue its next earnings report before the market opens on Tuesday, August 22nd.
On average, analysts expect that Coty will report full year sales of $2.17 billion for the current financial year, with estimates ranging from $7.45 billion to $7.65 billion. For the next fiscal year, analysts forecast that the company will post sales of $8.85 billion per share, with estimates ranging from $8.37 billion to $9.28 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of research firms that that provide coverage for Coty.
A number of research firms have commented on COTY. BidaskClub upgraded shares of Coty from a “sell” rating to a “hold” rating in a research note on Wednesday, August 2nd. Societe Generale started coverage on shares of Coty in a report on Monday, June 12th. They set a “buy” rating and a $21.00 target price on the stock. Barclays PLC set a $19.00 target price on shares of Coty and gave the stock a “hold” rating in a report on Saturday, May 13th. Jefferies Group LLC started coverage on shares of Coty in a report on Friday, June 2nd. They issued a “hold” rating and a $17.00 price objective on the stock. Finally, Royal Bank Of Canada reissued a “hold” rating and set a $22.00 target price on shares of Coty in a research note on Thursday, June 8th. Four research analysts have rated the stock with a sell rating, eight have issued a hold rating and five have issued a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $23.17.
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In related news, insider Sebastien Froidefond bought 13,461 shares of Coty stock in a transaction dated Thursday, June 15th. The shares were bought at an average cost of $18.95 per share, with a total value of $255,085.95. Following the acquisition, the insider now owns 62,640 shares in the company, valued at approximately $1,187,028. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Greerson Greene Mcmullen bought 11,300 shares of Coty stock in a transaction dated Thursday, May 25th. The shares were bought at an average cost of $18.87 per share, for a total transaction of $213,231.00. Following the completion of the acquisition, the insider now owns 79,307 shares in the company, valued at approximately $1,496,523.09. The disclosure for this purchase can be found here. In the last 90 days, insiders purchased 188,620 shares of company stock worth $3,588,363. 16.10% of the stock is owned by company insiders.
Shares of Coty (NYSE:COTY) opened at 19.56 on Wednesday. The stock’s market capitalization is $14.62 billion. Coty has a 52-week low of $16.95 and a 52-week high of $29.30. The stock’s 50 day moving average is $19.25 and its 200 day moving average is $18.82.
Coty Company Profile
Coty Inc is a beauty company. The Company operates through four segments: Fragrances, Color Cosmetics, Skin & Body Care and Brazil Acquisition. Its fragrance products include a range of men’s and women’s products. Its fragrance brands include Calvin Klein, Marc Jacobs, Davidoff, Chloe, Balenciaga, Beyonce, Bottega Veneta, Miu Miu and Roberto Cavalli.
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