Estee Lauder Companies Inc. (EL) Lifted to “Hold” at Zacks Investment Research
According to Zacks, “Estimates have been revised upward since the last 30 days as Estee Lauder Companies’ aggressive marketing investments and continued product innovation are encouraging. The company has been reporting higher top line and margins backed by its strategic initiatives. Going ahead, the company’s strategic initiatives to boost sales and the growing global beauty sector are expected to boost results. Though Estee Lauder expects growth opportunities in product categories in fiscal 2017, economic challenges will likely persist. Hence the company remained cautious while providing its guidance for the year.”
EL has been the subject of several other reports. B. Riley reaffirmed a neutral rating and set a $94.00 price objective on shares of Estee Lauder Companies in a report on Sunday, August 28th. Berenberg Bank assumed coverage on Estee Lauder Companies in a report on Friday, September 9th. They set a buy rating and a $105.00 price objective for the company. Stifel Nicolaus reaffirmed a buy rating and set a $105.00 price objective on shares of Estee Lauder Companies in a report on Friday, August 19th. Jefferies Group reduced their price objective on Estee Lauder Companies from $98.00 to $95.00 and set a hold rating for the company in a report on Monday, August 22nd. Finally, Piper Jaffray Cos. reaffirmed an overweight rating and set a $100.00 price objective on shares of Estee Lauder Companies in a report on Saturday, August 13th. Six equities research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company’s stock. Estee Lauder Companies currently has a consensus rating of Buy and a consensus price target of C$100.97.
Estee Lauder Companies (NYSE:EL) opened at 87.95 on Monday. The firm has a market capitalization of $32.16 billion, a P/E ratio of 29.71 and a beta of 0.91. The stock’s 50 day moving average price is $89.20 and its 200 day moving average price is $92.23. Estee Lauder Companies has a 52 week low of $80.18 and a 52 week high of $97.48.
Estee Lauder Companies (NYSE:EL) last posted its quarterly earnings results on Friday, August 19th. The company reported $0.25 EPS for the quarter, missing the consensus estimate of $0.40 by $0.15. The business earned $2.65 billion during the quarter. Estee Lauder Companies had a net margin of 9.90% and a return on equity of 33.20%. Estee Lauder Companies’s revenue for the quarter was up 5.0% on a year-over-year basis. During the same period in the prior year, the company earned $0.40 earnings per share. On average, equities analysts expect that Estee Lauder Companies will post ($0.06) EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 15th. Shareholders of record on Wednesday, August 31st were paid a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.36%. The ex-dividend date was Monday, August 29th. Estee Lauder Companies’s dividend payout ratio is presently 40.40%.
In other Estee Lauder Companies news, Chairman Ronald S. Lauder sold 500,000 shares of the business’s stock in a transaction dated Thursday, September 1st. The stock was sold at an average price of C$88.91, for a total transaction of C$44,455,000.00. Following the transaction, the chairman now owns 608,500 shares in the company, valued at C$54,101,735. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Fabrizio Freda sold 18,758 shares of the business’s stock in a transaction dated Monday, September 12th. The stock was sold at an average price of C$88.01, for a total value of C$1,650,891.58. Following the transaction, the insider now owns 89,532 shares in the company, valued at approximately C$7,879,711.32. The disclosure for this sale can be found here. Company insiders own 16.98% of the company’s stock.
Several hedge funds and other institutional investors have recently modified their holdings of EL. FMR LLC boosted its position in Estee Lauder Companies by 4.4% in the second quarter. FMR LLC now owns 30,920,948 shares of the company’s stock valued at $2,814,424,000 after buying an additional 1,309,267 shares during the period. Vanguard Group Inc. boosted its position in Estee Lauder Companies by 2.2% in the second quarter. Vanguard Group Inc. now owns 13,737,824 shares of the company’s stock valued at $1,250,416,000 after buying an additional 297,233 shares during the period. State Street Corp boosted its position in Estee Lauder Companies by 2.1% in the first quarter. State Street Corp now owns 8,895,393 shares of the company’s stock valued at $838,925,000 after buying an additional 186,295 shares during the period. American Century Companies Inc. boosted its position in Estee Lauder Companies by 12.2% in the second quarter. American Century Companies Inc. now owns 5,436,412 shares of the company’s stock valued at $494,822,000 after buying an additional 592,412 shares during the period. Finally, TIAA CREF Investment Management LLC boosted its position in Estee Lauder Companies by 12.5% in the second quarter. TIAA CREF Investment Management LLC now owns 4,063,650 shares of the company’s stock valued at $369,873,000 after buying an additional 451,288 shares during the period. Institutional investors own 55.36% of the company’s stock.
Estee Lauder Companies Company Profile
The Estee Lauder Companies Inc, is a manufacturer and marketer of skin care, makeup, fragrance and hair care products. The Company’s products are sold in over 150 countries and territories under a number of brand names, including Estee Lauder, Aramis, Clinique, Origins, Le Labo, M.A.C, Bobbi Brown, La Mer and Aveda.
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