Wall Street brokerages forecast that Coty Inc. (NYSE:COTY) will post $2.22 billion in sales for the current quarter, Zacks Investment Research reports. Six analysts have provided estimates for Coty’s earnings, with the highest sales estimate coming in at $2.27 billion and the lowest estimate coming in at $2.16 billion. Coty reported sales of $1.08 billion in the same quarter last year, which indicates a positive year-over-year growth rate of 105.6%. The business is expected to announce its next quarterly earnings results on Wednesday, November 8th.

On average, analysts expect that Coty will report full-year sales of $2.22 billion for the current financial year, with estimates ranging from $8.78 billion to $9.29 billion. For the next financial year, analysts anticipate that the business will report sales of $9.25 billion per share, with estimates ranging from $8.99 billion to $9.56 billion. Zacks Investment Research’s sales averages are an average based on a survey of research analysts that that provide coverage for Coty.

COTY has been the topic of a number of analyst reports. Barclays PLC set a $19.00 price objective on shares of Coty and gave the company a “hold” rating in a research report on Saturday, May 13th. Bank of America Corporation cut their price objective on shares of Coty from $23.00 to $21.00 and set a “buy” rating on the stock in a research report on Wednesday, August 23rd. Stifel Nicolaus set a $25.00 price objective on shares of Coty and gave the company a “buy” rating in a research report on Monday, August 21st. Jefferies Group LLC reiterated a “hold” rating and set a $18.00 price objective (up previously from $17.00) on shares of Coty in a research report on Wednesday, August 23rd. Finally, BMO Capital Markets set a $24.00 price objective on shares of Coty and gave the company a “buy” rating in a research report on Tuesday, August 22nd. Five analysts have rated the stock with a sell rating, eight have issued a hold rating and five have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $20.54.

ILLEGAL ACTIVITY NOTICE: “Analysts Expect Coty Inc. (COTY) Will Announce Quarterly Sales of $2.22 Billion” was first published by American Banking News and is the property of of American Banking News. If you are viewing this article on another site, it was illegally stolen and reposted in violation of US & international copyright laws. The legal version of this article can be viewed at https://www.americanbankingnews.com/2017/09/04/analysts-expect-coty-inc-coty-will-announce-quarterly-sales-of-2-22-billion.html.

In other Coty news, insider Laurent Kleitman bought 4,400 shares of the company’s stock in a transaction on Friday, June 9th. The shares were bought at an average cost of $18.63 per share, for a total transaction of $81,972.00. Following the acquisition, the insider now directly owns 35,400 shares in the company, valued at $659,502. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder Cosmetics B.V. Jab bought 2,600,000 shares of the company’s stock in a transaction on Monday, August 28th. The shares were acquired at an average price of $16.30 per share, for a total transaction of $42,380,000.00. Following the completion of the acquisition, the insider now owns 276,408,041 shares in the company, valued at $4,505,451,068.30. The disclosure for this purchase can be found here. Over the last quarter, insiders have acquired 2,880,038 shares of company stock worth $47,216,712. 16.10% of the stock is owned by company insiders.

Coty (COTY) opened at 16.55 on Monday. The company’s market cap is $12.39 billion. The company’s 50 day moving average is $18.80 and its 200 day moving average is $18.67. Coty has a 12-month low of $15.83 and a 12-month high of $26.63.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 14th. Shareholders of record on Friday, September 1st will be issued a dividend of $0.125 per share. This represents a $0.50 annualized dividend and a yield of 3.02%. The ex-dividend date is Wednesday, August 30th. Coty’s payout ratio is -87.72%.

About Coty

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.

Get a free copy of the Zacks research report on Coty (COTY)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for Coty Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Coty Inc. and related companies with MarketBeat.com's FREE daily email newsletter.