“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.
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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