Coty Inc (NYSE:COTY) – DA Davidson lowered their Q3 2019 earnings per share estimates for Coty in a research report issued on Monday, February 11th. DA Davidson analyst L. Weiser now expects that the company will post earnings per share of $0.13 for the quarter, down from their prior estimate of $0.14. DA Davidson also issued estimates for Coty’s Q4 2019 earnings at $0.16 EPS, FY2019 earnings at $0.64 EPS, Q1 2020 earnings at $0.10 EPS, Q2 2020 earnings at $0.28 EPS, Q3 2020 earnings at $0.18 EPS, Q4 2020 earnings at $0.21 EPS and FY2020 earnings at $0.77 EPS.
Several other analysts have also recently weighed in on COTY. Zacks Investment Research cut Coty from a “hold” rating to a “sell” rating in a report on Monday, November 12th. JPMorgan Chase & Co. lifted their price target on Coty to $10.00 and gave the stock a “neutral” rating in a report on Monday. Finally, TheStreet cut Coty from a “c-” rating to a “d+” rating in a report on Friday, December 7th. Three investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and four have issued a buy rating to the stock. Coty has an average rating of “Hold” and an average target price of $12.68.
NYSE:COTY opened at $9.66 on Tuesday. The company has a market cap of $7.01 billion, a P/E ratio of 14.00, a PEG ratio of 2.13 and a beta of 0.81. The company has a quick ratio of 0.66, a current ratio of 0.96 and a debt-to-equity ratio of 0.99. Coty has a 1-year low of $5.91 and a 1-year high of $21.68.
Coty (NYSE:COTY) last released its quarterly earnings data on Friday, February 8th. The company reported $0.24 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.22 by $0.02. Coty had a positive return on equity of 5.38% and a negative net margin of 13.58%. The company had revenue of $2.51 billion during the quarter, compared to analysts’ expectations of $2.47 billion. During the same period last year, the firm posted $0.32 earnings per share. The business’s revenue was down 4.8% on a year-over-year basis.
A number of hedge funds have recently modified their holdings of COTY. Bank of New York Mellon Corp grew its position in Coty by 819,570.7% during the 3rd quarter. Bank of New York Mellon Corp now owns 24,836,022 shares of the company’s stock worth $311,939,000 after acquiring an additional 24,832,992 shares during the last quarter. FMR LLC grew its position in Coty by 31.5% during the 2nd quarter. FMR LLC now owns 54,828,166 shares of the company’s stock worth $773,077,000 after acquiring an additional 13,121,191 shares during the last quarter. Franklin Resources Inc. grew its position in Coty by 21.2% during the 3rd quarter. Franklin Resources Inc. now owns 50,872,038 shares of the company’s stock worth $638,952,000 after acquiring an additional 8,894,234 shares during the last quarter. Thompson Siegel & Walmsley LLC bought a new stake in Coty during the 3rd quarter worth $59,090,000. Finally, Mackenzie Financial Corp grew its position in Coty by 43.6% during the 3rd quarter. Mackenzie Financial Corp now owns 12,742,524 shares of the company’s stock worth $160,046,000 after acquiring an additional 3,868,062 shares during the last quarter. Institutional investors and hedge funds own 66.98% of the company’s stock.
In other Coty news, CEO Pierre Laubies purchased 2,308,447 shares of the firm’s stock in a transaction dated Wednesday, November 14th. The shares were bought at an average price of $8.69 per share, for a total transaction of $20,060,404.43. Following the purchase, the chief executive officer now owns 2,308,447 shares in the company, valued at approximately $20,060,404.43. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, major shareholder Cosmetics B.V. Jab purchased 5,400,000 shares of the firm’s stock in a transaction dated Friday, November 16th. The stock was acquired at an average price of $8.89 per share, for a total transaction of $48,006,000.00. Following the purchase, the insider now owns 294,508,041 shares in the company, valued at approximately $2,618,176,484.49. The disclosure for this purchase can be found here. In the last quarter, insiders bought 11,023,447 shares of company stock worth $97,704,004. Corporate insiders own 1.20% of the company’s stock.
The firm also recently declared a quarterly dividend, which will be paid on Friday, March 15th. Stockholders of record on Thursday, February 28th will be paid a $0.125 dividend. The ex-dividend date is Wednesday, February 27th. This represents a $0.50 annualized dividend and a dividend yield of 5.18%. Coty’s payout ratio is 72.46%.
Coty Inc, together with its subsidiaries, manufactures, markets, distributes, and sells beauty products worldwide. It operates in three segments: Luxury, Consumer Beauty, and Professional Beauty. The Luxury segment offers prestige fragrances, and skincare and cosmetics products through various retailers, including perfumeries, department stores, and duty-free shops under the Alexander McQueen, Balenciaga, Burberry, Bottega Veneta, Calvin Klein, Cavalli, Chloe, Davidoff, Escada, Gucci, Hugo Boss, Jil Sander, Joop!, Lacoste, Lancaster, Marc Jacobs, Miu Miu, philosophy, Stella McCartney, and Tiffany & Co brands.
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