Revlon (REV) Bonds Drop 1.5% During Trading
An issue of Revlon, Inc. (NYSE:REV) bonds fell 1.5% against their face value during trading on Thursday. The high-yield issue of debt has a 6.25% coupon and will mature on August 1, 2024. The bonds in the issue are now trading at $60.75 and were trading at $63.00 last week. Price changes in a company’s bonds in credit markets sometimes anticipate parallel changes in its stock price.
A number of brokerages have recently commented on REV. Jefferies Group began coverage on shares of Revlon in a research report on Wednesday, September 13th. They issued a “hold” rating and a $16.00 target price for the company. ValuEngine cut shares of Revlon from a “hold” rating to a “sell” rating in a research report on Friday, September 15th. Finally, Zacks Investment Research cut shares of Revlon from a “hold” rating to a “strong sell” rating in a research report on Wednesday, November 15th. Three equities research analysts have rated the stock with a sell rating and one has assigned a hold rating to the company’s stock. The stock has a consensus rating of “Sell” and an average target price of $16.00.
Shares of Revlon, Inc. (REV) opened at $22.25 on Friday. The company has a debt-to-equity ratio of -3.78, a quick ratio of 0.67 and a current ratio of 1.25. Revlon, Inc. has a 12-month low of $15.60 and a 12-month high of $36.80.
Revlon (NYSE:REV) last issued its earnings results on Friday, November 3rd. The company reported ($0.38) EPS for the quarter, missing the Zacks’ consensus estimate of $0.13 by ($0.51). The business had revenue of $666.50 million during the quarter, compared to analyst estimates of $604.50 million. Revlon had a negative net margin of 5.27% and a negative return on equity of 3.09%. sell-side analysts forecast that Revlon, Inc. will post -1.96 EPS for the current fiscal year.
In other news, Director Ronald O. Perelman acquired 625,151 shares of the business’s stock in a transaction that occurred on Thursday, September 21st. The stock was purchased at an average cost of $17.36 per share, for a total transaction of $10,852,621.36. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Ronald O. Perelman acquired 47,355 shares of the business’s stock in a transaction that occurred on Monday, November 6th. The shares were purchased at an average price of $22.43 per share, with a total value of $1,062,172.65. The disclosure for this purchase can be found here. Insiders bought 845,974 shares of company stock valued at $15,445,954 over the last quarter. Company insiders own 78.00% of the company’s stock.
A number of institutional investors have recently added to or reduced their stakes in REV. Advisor Group Inc. acquired a new stake in Revlon during the second quarter worth about $114,000. The Manufacturers Life Insurance Company increased its position in Revlon by 1.3% during the second quarter. The Manufacturers Life Insurance Company now owns 11,024 shares of the company’s stock worth $261,000 after purchasing an additional 137 shares during the last quarter. Tower Research Capital LLC TRC increased its position in Revlon by 625.7% during the second quarter. Tower Research Capital LLC TRC now owns 12,337 shares of the company’s stock worth $292,000 after purchasing an additional 10,637 shares during the last quarter. Goldman Sachs Group Inc. increased its position in Revlon by 2.4% during the second quarter. Goldman Sachs Group Inc. now owns 12,379 shares of the company’s stock worth $293,000 after purchasing an additional 296 shares during the last quarter. Finally, Rhumbline Advisers increased its position in Revlon by 2.1% during the second quarter. Rhumbline Advisers now owns 13,793 shares of the company’s stock worth $327,000 after purchasing an additional 280 shares during the last quarter. Hedge funds and other institutional investors own 14.55% of the company’s stock.
Revlon, Inc manufactures, markets and sells around the world a range of beauty and personal care products, including color cosmetics, hair color, hair care and hair treatments, as well as beauty tools, men’s grooming products, anti-perspirant deodorants, fragrances, skincare and other beauty care products.
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