Analysts Expect Coty Inc. (COTY) Will Announce Quarterly Sales of $2.22 Billion
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.
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%.
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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