Wall Street brokerages forecast that Coty Inc. (NYSE:COTY) will announce $2.14 billion in sales for the current quarter, Zacks reports. Six analysts have made estimates for Coty’s earnings, with estimates ranging from $1.94 billion to $2.22 billion. Coty posted sales of $1.08 billion in the same quarter last year, which suggests a positive year over year growth rate of 98.1%. The firm is scheduled to announce its next quarterly earnings report on Tuesday, August 15th.
On average, analysts expect that Coty will report full year sales of $2.14 billion for the current financial year, with estimates ranging from $7.35 billion to $7.62 billion. For the next fiscal year, analysts forecast that the firm will report sales of $8.77 billion per share, with estimates ranging from $8.02 billion to $9.27 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of research analysts that follow Coty.
Coty (NYSE:COTY) last issued its quarterly earnings data on Wednesday, May 10th. The company reported $0.15 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.11 by $0.04. Coty had a positive return on equity of 9.12% and a negative net margin of 2.29%. The business had revenue of $2.03 million during the quarter, compared to analysts’ expectations of $1.94 billion. During the same period in the previous year, the firm posted $0.09 earnings per share. The company’s revenue was down 99.8% on a year-over-year basis.
COTY has been the topic of several analyst reports. J P Morgan Chase & Co began coverage on shares of Coty in a research note on Tuesday, March 21st. They issued an “underweight” rating and a $16.00 target price for the company. Zacks Investment Research raised shares of Coty from a “sell” rating to a “hold” rating in a research note on Thursday, April 13th. BMO Capital Markets reaffirmed a “buy” rating and issued a $24.00 target price on shares of Coty in a research note on Tuesday, April 4th. Societe Generale began coverage on shares of Coty in a research note on Monday, June 12th. They issued a “buy” rating and a $21.00 target price for the company. Finally, Royal Bank Of Canada reaffirmed a “hold” rating and issued a $22.00 target price on shares of Coty in a research note on Thursday, June 8th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and five have given a buy rating to the company. Coty presently has a consensus rating of “Hold” and an average price target of $23.17.
In related news, insider Greerson Greene Mcmullen bought 20,200 shares of the business’s stock in a transaction dated Wednesday, June 14th. The stock was bought at an average price of $19.32 per share, for a total transaction of $390,264.00. Following the purchase, the insider now owns 99,507 shares in the company, valued at approximately $1,922,475.24. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Sebastien Froidefond bought 13,461 shares of the business’s stock in a transaction dated Thursday, June 15th. The shares were bought at an average price of $18.95 per share, with a total value of $255,085.95. Following the purchase, the insider now owns 62,640 shares in the company, valued at approximately $1,187,028. The disclosure for this purchase can be found here. In the last ninety days, insiders purchased 188,620 shares of company stock valued at $3,588,363. 16.10% of the stock is owned by insiders.
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Shares of Coty (NYSE:COTY) opened at 19.04 on Wednesday. Coty has a one year low of $16.95 and a one year high of $30.13. The firm’s 50-day moving average price is $19.01 and its 200-day moving average price is $18.71. The stock’s market capitalization is $14.24 billion.
The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 13th. Investors of record on Wednesday, May 31st were given a $0.125 dividend. This represents a $0.50 dividend on an annualized basis and a yield of 2.61%. The ex-dividend date was Friday, May 26th. Coty’s dividend payout ratio (DPR) is currently -200.00%.
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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