Coty’s (COTY) Hold Rating Reiterated at Wells Fargo & Company

Wells Fargo & Company restated their hold rating on shares of Coty Inc. (NYSE:COTY) in a research note released on Thursday. They currently have a $17.00 price target on the stock.

“We view COTY as a long-term turnaround story and given the risks ahead, we choose to be patient until we see more evidence of fundamental stabilization. We maintain our Market Perform rating.  Organic Sales Weak, but Showing Improvement – We were encouraged by continued growth in Luxury (+4%) and Professional Beauty (+1%), but Consumer Beauty remains weak (down -8%). Mgmt expects flat organic sales growth in 2H18, meaning a material positive inflection point isn’t likely until FY19 at earliest. We are lowering our 2H18 organic sales growth outlook to flat (prior +1.5%), with FY18 down -1% (prior -0.4%).”,” Wells Fargo & Company’s analyst wrote.

COTY has been the subject of a number of other research reports. Berenberg Bank downgraded shares of Coty from a hold rating to a sell rating and decreased their price target for the stock from $17.50 to $15.00 in a research note on Wednesday, August 30th. BMO Capital Markets set a $24.00 price objective on shares of Coty and gave the stock a buy rating in a research report on Tuesday, August 22nd. BidaskClub downgraded shares of Coty from a sell rating to a strong sell rating in a research report on Wednesday, July 12th. DA Davidson assumed 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. Finally, Royal Bank Of Canada restated a hold rating and set a $18.00 price objective on shares of Coty in a research report on Friday, October 20th. Three investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and five have issued a buy rating to the company. Coty presently has an average rating of Hold and an average target price of $19.30.

Coty (COTY) opened at $16.31 on Thursday. Coty has a 12 month low of $14.24 and a 12 month high of $20.88. The company has a quick ratio of 0.66, a current ratio of 1.08 and a debt-to-equity ratio of 0.80. The stock has a market cap of $12,211.07, a P/E ratio of 29.65, a P/E/G ratio of 1.62 and a beta of 0.31.

Coty (NYSE:COTY) last issued its quarterly earnings results on Thursday, November 9th. The company reported $0.10 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.07 by $0.03. Coty had a negative net margin of 5.02% and a positive return on equity of 4.26%. The company had revenue of $2.24 billion during the quarter, compared to the consensus estimate of $2.24 billion. During the same quarter in the previous year, the firm earned $0.23 earnings per share. The firm’s quarterly revenue was up 107.3% on a year-over-year basis. equities research analysts forecast that Coty will post 0.67 EPS for the current fiscal year.

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The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 14th. Stockholders of record on Thursday, November 30th will be issued a $0.125 dividend. The ex-dividend date of this dividend is Wednesday, November 29th. This represents a $0.50 dividend on an annualized basis and a dividend yield of 3.07%. Coty’s payout ratio is -83.33%.

In other news, major shareholder Cosmetics B.V. Jab acquired 2,600,000 shares of the company’s stock in a transaction on Monday, August 28th. The shares were bought at an average cost of $16.30 per share, with a total value of $42,380,000.00. Following the purchase, the insider now owns 276,408,041 shares of the company’s stock, valued at approximately $4,505,451,068.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Ayesha Zafar acquired 21,570 shares of the company’s stock in a transaction on Wednesday, September 13th. The stock was purchased at an average cost of $17.11 per share, for a total transaction of $369,062.70. Following the completion of the purchase, the senior vice president now directly owns 10,000 shares in the company, valued at approximately $171,100. The disclosure for this purchase can be found here. Insiders bought a total of 2,979,505 shares of company stock worth $48,661,242 over the last ninety days. Corporate insiders own 1.00% of the company’s stock.

About Coty

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.

Analyst Recommendations for Coty (NYSE:COTY)

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