Coty (NYSE:COTY) Releases FY 2024 Earnings Guidance

Coty (NYSE:COTY) issued an update on its FY 2024 earnings guidance on Monday morning. The company provided earnings per share guidance of 0.470-0.470 for the period, compared to the consensus earnings per share estimate of 0.450. The company issued revenue guidance of -. Coty also updated its FY24 guidance to $0.44-$0.47 EPS.

Coty Price Performance

Shares of Coty stock traded down $0.35 during trading on Tuesday, reaching $11.15. The company’s stock had a trading volume of 7,543,550 shares, compared to its average volume of 3,996,872. The stock has a 50-day moving average price of $11.76 and a two-hundred day moving average price of $11.61. The stock has a market capitalization of $9.98 billion, a P/E ratio of 31.94, a price-to-earnings-growth ratio of 6.49 and a beta of 1.83. The company has a current ratio of 0.85, a quick ratio of 0.58 and a debt-to-equity ratio of 0.80. Coty has a one year low of $9.02 and a one year high of $13.46.

Coty (NYSE:COTY) last announced its earnings results on Monday, May 6th. The company reported $0.05 earnings per share for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.01). Coty had a return on equity of 11.91% and a net margin of 5.39%. The company had revenue of $1.39 billion during the quarter, compared to the consensus estimate of $1.37 billion. During the same period in the prior year, the firm posted $0.19 earnings per share. The company’s revenue was up 7.5% on a year-over-year basis. As a group, sell-side analysts anticipate that Coty will post 0.45 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the company. TheStreet upgraded Coty from a c+ rating to a b- rating in a research report on Thursday, February 8th. Wells Fargo & Company boosted their price objective on Coty from $11.00 to $12.00 and gave the stock an equal weight rating in a report on Friday, February 9th. TD Cowen cut their target price on shares of Coty from $16.00 to $13.00 and set a buy rating on the stock in a research report on Wednesday, April 17th. Canaccord Genuity Group began coverage on shares of Coty in a research report on Monday, April 15th. They set a buy rating and a $14.00 price target for the company. Finally, Barclays cut their price objective on shares of Coty from $13.00 to $12.00 and set an equal weight rating on the stock in a report on Friday, April 12th. Eight investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of Hold and a consensus price target of $13.14.

Insider Activity at Coty

In other Coty news, Director Robert S. Singer sold 90,000 shares of Coty stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $12.56, for a total transaction of $1,130,400.00. Following the transaction, the director now directly owns 169,982 shares in the company, valued at $2,134,973.92. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other Coty news, Director Robert S. Singer sold 90,000 shares of Coty stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $12.56, for a total value of $1,130,400.00. Following the transaction, the director now owns 169,982 shares of the company’s stock, valued at $2,134,973.92. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Robert S. Singer sold 30,000 shares of the company’s stock in a transaction that occurred on Wednesday, March 6th. The shares were sold at an average price of $12.70, for a total transaction of $381,000.00. Following the completion of the transaction, the director now owns 120,000 shares of the company’s stock, valued at approximately $1,524,000. The disclosure for this sale can be found here. 5.80% of the stock is owned by corporate insiders.

Coty Company Profile

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.