Coty Inc. (COTY) Expected to Announce Earnings of $0.07 Per Share
Brokerages forecast that Coty Inc. (NYSE:COTY) will report $0.07 earnings per share (EPS) for the current quarter, Zacks Investment Research reports. Six analysts have issued estimates for Coty’s earnings. The lowest EPS estimate is $0.04 and the highest is $0.10. Coty reported earnings of $0.23 per share during the same quarter last year, which would suggest a negative year over year growth rate of 69.6%. The firm is expected to issue its next quarterly earnings report on Wednesday, November 8th.
According to Zacks, analysts expect that Coty will report full-year earnings of $0.69 per share for the current financial year, with EPS estimates ranging from $0.59 to $0.77. For the next fiscal year, analysts anticipate that the company will post earnings of $0.96 per share, with EPS estimates ranging from $0.76 to $1.05. Zacks’ EPS averages are an average based on a survey of sell-side research analysts that follow Coty.
A number of equities analysts have issued reports on COTY shares. Stifel Nicolaus set a $25.00 price target on Coty and gave the company a “buy” rating in a report on Monday, August 21st. BMO Capital Markets set a $24.00 price target on Coty and gave the company a “buy” rating in a report on Tuesday, August 22nd. Societe Generale initiated coverage on Coty in a report on Monday, June 12th. They issued a “buy” rating and a $21.00 price target for the company. Deutsche Bank AG reiterated a “buy” rating and issued a $20.00 price target (down from $22.00) on shares of Coty in a report on Wednesday, August 23rd. Finally, Bank of America Corporation lowered their price target on Coty from $23.00 to $21.00 and set a “buy” rating for the company in a report on Wednesday, August 23rd. Five investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and five have given a buy rating to the company. The stock has an average rating of “Hold” and a consensus target price of $20.04.
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In other Coty news, major shareholder Cosmetics B.V. Jab acquired 2,600,000 shares of Coty stock in a transaction that occurred on Monday, August 28th. The stock was purchased 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 in the company, valued at $4,505,451,068.30. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Camillo Pane acquired 48,485 shares of Coty stock in a transaction that occurred on Thursday, August 24th. The stock was acquired at an average cost of $16.50 per share, with a total value of $800,002.50. Following the completion of the purchase, the chief executive officer now owns 336,142 shares in the company, valued at approximately $5,546,343. The disclosure for this purchase can be found here. Over the last ninety days, insiders have bought 2,979,505 shares of company stock valued at $48,661,242. 1.00% of the stock is currently owned by company insiders.
Shares of Coty (NYSE:COTY) traded down 0.800% during mid-day trading on Monday, reaching $16.745. 1,853,623 shares of the company traded hands. Coty has a 52-week low of $15.83 and a 52-week high of $24.74. The company’s market capitalization is $12.54 billion. The firm’s 50 day moving average price is $16.76 and its 200-day moving average price is $18.26.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 14th. Stockholders of record on Friday, September 1st were issued a $0.125 dividend. The ex-dividend date of this dividend was Wednesday, August 30th. This represents a $0.50 annualized dividend and a dividend yield of 2.96%. Coty’s dividend payout ratio (DPR) is -87.72%.
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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