Estee Lauder Companies Inc (EL) Hits New 1-Year High at $108.10
Estee Lauder Companies Inc (NYSE:EL) reached a new 52-week high during mid-day trading on Friday . The company traded as high as $108.10 and last traded at $108.05, with a volume of 1,060,487 shares changing hands. The stock had previously closed at $106.99.
EL has been the subject of a number of recent analyst reports. Telsey Advisory Group boosted their target price on shares of Estee Lauder Companies from $105.00 to $115.00 and gave the company an “outperform” rating in a report on Tuesday, August 15th. Jefferies Group LLC upgraded shares of Estee Lauder Companies from a “hold” rating to a “buy” rating and set a $110.00 target price for the company in a report on Friday, June 2nd. Wells Fargo & Company restated an “outperform” rating and issued a $106.00 target price (up from $103.00) on shares of Estee Lauder Companies in a report on Saturday, July 22nd. Sanford C. Bernstein restated an “outperform” rating and issued a $117.00 target price on shares of Estee Lauder Companies in a report on Tuesday, August 29th. Finally, Morgan Stanley restated an “overweight” rating and issued a $122.00 target price (up from $106.00) on shares of Estee Lauder Companies in a report on Tuesday, August 22nd. One research analyst has rated the stock with a sell rating, four have given a hold rating, nineteen have assigned a buy rating and one has issued a strong buy rating to the company. The stock presently has an average rating of “Buy” and a consensus price target of $108.15.
The company has a 50-day moving average price of $101.16 and a 200-day moving average price of $92.65. The stock has a market cap of $39.71 billion, a price-to-earnings ratio of 32.22 and a beta of 0.67.
Estee Lauder Companies (NYSE:EL) last announced its earnings results on Friday, August 18th. The company reported $0.51 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.43 by $0.08. Estee Lauder Companies had a return on equity of 21.60% and a net margin of 7.95%. The company had revenue of $2.89 billion during the quarter, compared to analyst estimates of $2.86 billion. During the same period last year, the company posted $0.43 earnings per share. The firm’s quarterly revenue was up 9.4% compared to the same quarter last year. Equities analysts anticipate that Estee Lauder Companies Inc will post $3.97 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 15th. Investors of record on Thursday, August 31st will be given a $0.34 dividend. The ex-dividend date is Tuesday, August 29th. This represents a $1.36 dividend on an annualized basis and a yield of 1.26%. Estee Lauder Companies’s payout ratio is 40.60%.
In related news, Director Irvine O. Hockaday, Jr. sold 2,000 shares of Estee Lauder Companies stock in a transaction dated Friday, August 25th. The stock was sold at an average price of $105.41, for a total value of $210,820.00. Following the completion of the sale, the director now directly owns 26,240 shares in the company, valued at $2,765,958.40. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Barry S. Sternlicht sold 10,000 shares of Estee Lauder Companies stock in a transaction dated Monday, August 21st. The stock was sold at an average price of $106.30, for a total value of $1,063,000.00. Following the completion of the sale, the director now owns 40,982 shares of the company’s stock, valued at $4,356,386.60. The disclosure for this sale can be found here. Over the last quarter, insiders sold 528,852 shares of company stock valued at $55,339,085. Corporate insiders own 16.98% of the company’s stock.
Hedge funds have recently made changes to their positions in the company. American Beacon Advisors Inc. purchased a new stake in shares of Estee Lauder Companies during the first quarter worth approximately $100,000. Bronfman E.L. Rothschild L.P. raised its stake in shares of Estee Lauder Companies by 36.3% in the first quarter. Bronfman E.L. Rothschild L.P. now owns 1,298 shares of the company’s stock worth $110,000 after buying an additional 346 shares during the last quarter. Israel Discount Bank of New York purchased a new stake in shares of Estee Lauder Companies during the first quarter worth approximately $110,000. Acrospire Investment Management LLC raised its stake in shares of Estee Lauder Companies by 2,291.7% in the second quarter. Acrospire Investment Management LLC now owns 1,148 shares of the company’s stock worth $110,000 after buying an additional 1,100 shares during the last quarter. Finally, First Interstate Bank purchased a new stake in shares of Estee Lauder Companies during the first quarter worth approximately $114,000. Hedge funds and other institutional investors own 54.62% of the company’s stock.
About Estee Lauder Companies
The Estee Lauder Companies Inc manufactures and markets skin care, makeup, fragrance and hair care products. The Company offers products, including skin care, makeup, fragrance, hair care and other. The Company operates in beauty products segment. The Company’s products are sold in over 150 countries and territories under brand names, including Estee Lauder, Aramis, Clinique, Prescriptives, Lab Series, Origins, Tommy Hilfiger, MAC, Kiton, La Mer, Bobbi Brown, Donna Karan New York, DKNY, Aveda, Jo Malone London, Bumble and bumble, Michael Kors, Darphin, Tom Ford, Smashbox, Ermenegildo Zegna, AERIN, Tory Burch, RODIN olio lusso, Le Labo, Editions de Parfums Frederic Malle, GLAMGLOW, By Kilian, BECCA and Too Faced.
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