Coty Inc. (COTY) Expected to Post Quarterly Sales of $2.22 Billion
Brokerages predict that Coty Inc. (NYSE:COTY) will report $2.22 billion in sales for the current fiscal quarter, according to Zacks. Seven analysts have issued estimates for Coty’s earnings, with estimates ranging from $2.15 billion to $2.27 billion. Coty posted sales of $1.08 billion in the same quarter last year, which suggests a positive year over year growth rate of 105.6%. The business is scheduled to report its next earnings results before the market opens on Wednesday, November 8th.
According to Zacks, analysts expect that Coty will report full-year sales of $2.22 billion for the current fiscal year, with estimates ranging from $8.78 billion to $9.37 billion. For the next fiscal year, analysts expect that the business will report sales of $9.33 billion per share, with estimates ranging from $8.99 billion to $9.61 billion. Zacks’ sales averages are a mean average based on a survey of sell-side analysts that cover Coty.
COTY has been the subject of a number of recent research reports. Zacks Investment Research downgraded shares of Coty from a “hold” rating to a “sell” rating in a research report on Thursday, July 20th. BidaskClub downgraded shares of Coty from a “sell” rating to a “strong sell” rating in a research report on Wednesday, July 12th. KeyCorp reaffirmed a “hold” rating on shares of Coty in a research report on Monday, October 16th. BMO Capital Markets reaffirmed a “buy” rating and set a $24.00 price objective on shares of Coty in a research report on Thursday, October 5th. Finally, DA Davidson initiated coverage on shares of Coty in a research report on Tuesday, October 17th. They set a “neutral” rating and a $17.50 price objective for the company. Three equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and five have given a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $19.57.
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Shares of Coty (NYSE COTY) opened at 14.91 on Monday. The firm’s market cap is $11.16 billion. Coty has a 52 week low of $14.81 and a 52 week high of $23.11. The stock’s 50 day moving average is $16.38 and its 200 day moving average is $18.06.
In other news, SVP Ayesha Zafar bought 21,570 shares of Coty stock in a transaction on Wednesday, September 13th. The stock was purchased at an average cost of $17.11 per share, with a total value of $369,062.70. Following the purchase, the senior vice president now directly owns 10,000 shares of the company’s stock, valued at approximately $171,100. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Greerson Greene Mcmullen bought 62,218 shares of Coty stock in a transaction on Thursday, September 7th. The shares were purchased at an average cost of $16.50 per share, with a total value of $1,026,597.00. Following the completion of the purchase, the insider now directly owns 161,707 shares in the company, valued at $2,668,165.50. The disclosure for this purchase can be found here. Insiders have acquired a total of 2,979,505 shares of company stock valued at $48,661,242 over the last three months. 1.00% of the stock is currently owned by company insiders.
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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