Coty (NYSE:COTY) Hits New 52-Week Low on Disappointing Earnings

Coty Inc. (NYSE:COTY) shares reached a new 52-week low during mid-day trading on Wednesday following a weaker than expected earnings announcement. The stock traded as low as $4.49 and last traded at $4.52, with a volume of 2180897 shares trading hands. The stock had previously closed at $5.17.

The company reported $0.01 earnings per share for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.04). Coty had a net margin of 0.22% and a return on equity of 6.34%. The company had revenue of $1.30 billion for the quarter, compared to analyst estimates of $1.31 billion. During the same period in the previous year, the firm posted $0.05 earnings per share. The firm’s revenue for the quarter was down 6.2% compared to the same quarter last year.

Analyst Ratings Changes

Several analysts have recently weighed in on the stock. Canaccord Genuity Group reaffirmed a “hold” rating and set a $5.00 price objective (down previously from $8.00) on shares of Coty in a report on Thursday. Royal Bank of Canada lowered their target price on Coty from $13.00 to $12.00 and set an “outperform” rating for the company in a research note on Thursday. Morgan Stanley reduced their price target on shares of Coty from $9.00 to $7.00 and set an “equal weight” rating on the stock in a research report on Wednesday, February 12th. Stifel Nicolaus dropped their target price on shares of Coty from $8.00 to $6.50 and set a “hold” rating for the company in a research note on Thursday, April 10th. Finally, Berenberg Bank began coverage on shares of Coty in a research note on Tuesday, March 25th. They set a “buy” rating and a $7.50 price target on the stock. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $7.80.

Institutional Investors Weigh In On Coty

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Norges Bank bought a new position in Coty during the 4th quarter worth about $44,401,000. Amundi grew its holdings in shares of Coty by 1,990,624.9% during the fourth quarter. Amundi now owns 4,479,131 shares of the company’s stock worth $30,503,000 after buying an additional 4,478,906 shares in the last quarter. Man Group plc acquired a new stake in Coty in the 4th quarter valued at approximately $28,473,000. Caisse Des Depots ET Consignations bought a new stake in Coty in the 4th quarter valued at approximately $19,663,000. Finally, Assenagon Asset Management S.A. boosted its position in Coty by 162.2% during the 1st quarter. Assenagon Asset Management S.A. now owns 4,300,292 shares of the company’s stock worth $23,523,000 after acquiring an additional 2,660,221 shares during the last quarter. 42.36% of the stock is currently owned by institutional investors and hedge funds.

Coty Stock Up 5.6 %

The company has a current ratio of 0.71, a quick ratio of 0.45 and a debt-to-equity ratio of 0.85. The company has a market capitalization of $4.21 billion, a P/E ratio of -482.50, a PEG ratio of 0.81 and a beta of 1.90. The firm’s 50 day moving average price is $5.24 and its two-hundred day moving average price is $6.40.

About Coty

Coty Inc, together with its subsidiaries, manufactures, markets, distributes, and sells beauty products worldwide. It operates through Prestige and Consumer Beauty segments. The company provides fragrance, color cosmetics, and skin and body care products. It offers Prestige segment products primarily through prestige retailers, including perfumeries, department stores, e-retailers, direct-to-consumer websites, and duty-free shops under the Burberry, Calvin Klein, Chloe, Davidoff, Escada, Gucci, Hugo Boss, Jil Sander, Joop!, Kylie Jenner, Lancaster, Marc Jacobs, Miu Miu, Orveda, philosophy, SKKN BY KIM, and Tiffany & Co brands.