Coty Inc (NYSE:COTY) – Equities research analysts at DA Davidson lifted their Q2 2019 earnings per share (EPS) estimates for Coty in a research note issued on Monday. DA Davidson analyst L. Weiser now anticipates that the company will post earnings of $0.32 per share for the quarter, up from their prior estimate of $0.29. DA Davidson currently has a “Neutral” rating and a $18.00 target price on the stock.
Several other research firms have also weighed in on COTY. BidaskClub lowered shares of Coty from a “sell” rating to a “strong sell” rating in a research note on Thursday, October 26th. Wells Fargo & Co set a $17.00 price objective on shares of Coty and gave the stock a “hold” rating in a research note on Monday, December 11th. BMO Capital Markets increased their price objective on shares of Coty from $22.00 to $24.00 and gave the stock a “buy” rating in a research note on Friday, February 9th. Citigroup upgraded shares of Coty from a “neutral” rating to a “buy” rating and set a $21.00 price objective on the stock in a research note on Tuesday, December 12th. Finally, Stifel Nicolaus reiterated a “buy” rating on shares of Coty in a research note on Friday, February 9th. Three investment analysts have rated the stock with a sell rating, eight have issued a hold rating and seven have assigned a buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $19.63.
Coty (NYSE:COTY) last released its quarterly earnings data on Thursday, February 8th. The company reported $0.32 earnings per share for the quarter, topping the consensus estimate of $0.24 by $0.08. The firm had revenue of $2.64 billion for the quarter, compared to analyst estimates of $2.48 billion. Coty had a negative net margin of 4.15% and a positive return on equity of 4.45%. Coty’s quarterly revenue was up 14.8% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.30 earnings per share.
In related news, major shareholder Cosmetics B.V. Jab acquired 2,800,000 shares of the firm’s stock in a transaction dated Friday, November 17th. The stock was acquired at an average cost of $16.94 per share, for a total transaction of $47,432,000.00. Following the completion of the acquisition, the insider now directly owns 285,008,041 shares of the company’s stock, valued at approximately $4,828,036,214.54. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Edgar O. Huber acquired 4,000 shares of the firm’s stock in a transaction dated Monday, December 11th. The stock was bought at an average price of $17.74 per share, with a total value of $70,960.00. Following the completion of the acquisition, the insider now directly owns 163,570 shares of the company’s stock, valued at $2,901,731.80. The disclosure for this purchase can be found here. 1.00% of the stock is currently owned by corporate insiders.
The company also recently announced a quarterly dividend, which will be paid on Thursday, March 15th. Shareholders of record on Wednesday, February 28th will be given a $0.125 dividend. This represents a $0.50 annualized dividend and a yield of 2.36%. The ex-dividend date is Tuesday, February 27th. Coty’s dividend payout ratio (DPR) is -98.04%.
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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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