Jefferies Group Brokers Lift Earnings Estimates for Estee Lauder Companies Inc (EL)
Estee Lauder Companies Inc (NYSE:EL) – Analysts at Jefferies Group boosted their Q2 2018 earnings estimates for shares of Estee Lauder Companies in a research report issued on Wednesday. Jefferies Group analyst S. Wissink now anticipates that the company will post earnings per share of $1.44 for the quarter, up from their prior estimate of $1.41. Jefferies Group has a “Buy” rating and a $148.00 price target on the stock. Jefferies Group also issued estimates for Estee Lauder Companies’ Q3 2019 earnings at $1.19 EPS.
A number of other equities analysts also recently commented on EL. DA Davidson initiated coverage on Estee Lauder Companies in a research report on Wednesday, September 27th. They set a “neutral” rating and a $115.00 price objective for the company. Bank of America boosted their price objective on Estee Lauder Companies from $115.00 to $122.00 and gave the stock a “buy” rating in a research report on Friday, October 13th. KeyCorp set a $115.00 price objective on Estee Lauder Companies and gave the stock a “buy” rating in a research report on Monday, October 16th. Stifel Nicolaus boosted their price objective on Estee Lauder Companies from $114.00 to $121.00 and gave the stock a “buy” rating in a research report on Thursday, October 19th. Finally, Royal Bank of Canada set a $115.00 price objective on Estee Lauder Companies and gave the stock a “buy” rating in a research report on Monday, October 23rd. Seven investment analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the company. Estee Lauder Companies currently has a consensus rating of “Buy” and an average price target of $117.67.
Estee Lauder Companies (NYSE:EL) last announced its quarterly earnings data on Wednesday, November 1st. The company reported $1.21 EPS for the quarter, topping the Zacks’ consensus estimate of $0.97 by $0.24. Estee Lauder Companies had a return on equity of 33.64% and a net margin of 11.30%. The business had revenue of $3.27 billion during the quarter, compared to the consensus estimate of $3.16 billion. During the same period in the previous year, the company posted $0.85 earnings per share. The business’s revenue for the quarter was up 14.3% on a year-over-year basis.
A number of hedge funds and other institutional investors have recently modified their holdings of the business. Vanguard Group Inc. lifted its stake in Estee Lauder Companies by 3.3% in the second quarter. Vanguard Group Inc. now owns 15,286,591 shares of the company’s stock valued at $1,467,207,000 after buying an additional 485,448 shares during the last quarter. Jennison Associates LLC purchased a new stake in Estee Lauder Companies in the third quarter valued at approximately $664,432,000. Janus Henderson Group PLC lifted its stake in Estee Lauder Companies by 1,676.9% in the second quarter. Janus Henderson Group PLC now owns 4,695,498 shares of the company’s stock valued at $450,675,000 after buying an additional 4,431,247 shares during the last quarter. Fundsmith LLP lifted its stake in Estee Lauder Companies by 3.2% in the second quarter. Fundsmith LLP now owns 3,845,509 shares of the company’s stock valued at $369,092,000 after buying an additional 118,489 shares during the last quarter. Finally, Northern Trust Corp raised its stake in shares of Estee Lauder Companies by 41.1% during the second quarter. Northern Trust Corp now owns 3,732,174 shares of the company’s stock worth $358,214,000 after purchasing an additional 1,086,562 shares during the last quarter. Institutional investors own 53.65% of the company’s stock.
In other Estee Lauder Companies news, insider John Demsey sold 77,608 shares of the business’s stock in a transaction that occurred on Tuesday, January 2nd. The stock was sold at an average price of $127.52, for a total value of $9,896,572.16. Following the completion of the sale, the insider now owns 23,305 shares in the company, valued at $2,971,853.60. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, Director Richard F. Zannino sold 23,312 shares of the business’s stock in a transaction that occurred on Thursday, November 2nd. The shares were sold at an average price of $119.23, for a total value of $2,779,489.76. Following the completion of the sale, the director now owns 14,000 shares of the company’s stock, valued at approximately $1,669,220. The disclosure for this sale can be found here. Insiders sold 1,566,381 shares of company stock valued at $195,955,337 over the last ninety days. 16.24% of the stock is currently owned by corporate insiders.
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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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