Coty (NYSE:COTY) Issues FY 2024 Earnings Guidance

Coty (NYSE:COTY) issued an update on its FY 2024 earnings guidance on Monday morning. The company provided earnings per share guidance of 0.470-0.470 for the period, compared to the consensus earnings per share estimate of 0.450. The company issued revenue guidance of -. Coty also updated its FY24 guidance to $0.44-$0.47 EPS.

Coty Trading Down 0.9 %

Shares of NYSE COTY traded down $0.10 during trading on Monday, reaching $11.50. The stock had a trading volume of 4,524,476 shares, compared to its average volume of 3,964,375. The business’s 50-day moving average price is $11.80 and its 200-day moving average price is $11.60. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.58 and a current ratio of 0.85. Coty has a fifty-two week low of $9.02 and a fifty-two week high of $13.46. The company has a market cap of $10.29 billion, a P/E ratio of 33.14, a PEG ratio of 6.49 and a beta of 1.83.

Coty (NYSE:COTY) last posted its quarterly earnings results on Monday, May 6th. The company reported $0.05 earnings per share for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.01). The business had revenue of $1.39 billion during the quarter, compared to analyst estimates of $1.37 billion. Coty had a net margin of 5.39% and a return on equity of 11.91%. The firm’s quarterly revenue was up 7.5% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.19 earnings per share. On average, equities research analysts predict that Coty will post 0.45 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the stock. Citigroup dropped their target price on shares of Coty from $13.00 to $12.00 and set a neutral rating on the stock in a research report on Tuesday, April 16th. Royal Bank of Canada reissued an outperform rating and issued a $14.00 target price on shares of Coty in a report on Friday, February 9th. TD Cowen decreased their target price on Coty from $16.00 to $13.00 and set a buy rating for the company in a research report on Wednesday, April 17th. Barclays reduced their price objective on Coty from $13.00 to $12.00 and set an equal weight rating for the company in a research note on Friday, April 12th. Finally, TheStreet raised shares of Coty from a c+ rating to a b- rating in a report on Thursday, February 8th. Eight equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, Coty has a consensus rating of Hold and a consensus price target of $13.20.

Insider Buying and Selling

In related news, Director Robert S. Singer sold 30,000 shares of the stock in a transaction dated Wednesday, March 6th. The shares were sold at an average price of $12.70, for a total value of $381,000.00. Following the completion of the transaction, the director now owns 120,000 shares in the company, valued at approximately $1,524,000. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other Coty news, Director Robert S. Singer sold 90,000 shares of Coty stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $12.56, for a total value of $1,130,400.00. Following the transaction, the director now owns 169,982 shares in the company, valued at $2,134,973.92. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Robert S. Singer sold 30,000 shares of Coty stock in a transaction on Wednesday, March 6th. The shares were sold at an average price of $12.70, for a total value of $381,000.00. Following the transaction, the director now owns 120,000 shares in the company, valued at approximately $1,524,000. The disclosure for this sale can be found here. Corporate insiders own 5.80% of the company’s stock.

Coty Company Profile

Coty Inc, together with its subsidiaries, manufactures, markets, distributes, and sells beauty products worldwide. It operates through Prestige and Consumer Beauty segments. The company provides fragrance, color cosmetics, and skin and body care products. It offers Prestige segment products primarily through prestige retailers, including perfumeries, department stores, e-retailers, direct-to-consumer websites, and duty-free shops under the Burberry, Calvin Klein, Chloe, Davidoff, Escada, Gucci, Hugo Boss, Jil Sander, Joop!, Kylie Jenner, Lancaster, Marc Jacobs, Miu Miu, Orveda, philosophy, SKKN BY KIM, and Tiffany & Co brands.