Coty (NYSE:COTY) Hits New 1-Year Low on Disappointing Earnings

Shares of Coty (NYSE:COTYGet Free Report) reached a new 52-week low on Friday following a dissappointing earnings announcement. The company traded as low as $2.65 and last traded at $2.6880, with a volume of 1732123 shares traded. The stock had previously closed at $3.15.

The company reported $0.14 earnings per share for the quarter, missing the consensus estimate of $0.18 by ($0.04). Coty had a positive return on equity of 4.74% and a negative net margin of 6.60%.The business had revenue of $1.68 billion for the quarter, compared to the consensus estimate of $1.66 billion. During the same quarter in the prior year, the firm posted $0.11 earnings per share. The business’s revenue was up .5% on a year-over-year basis.

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Analyst Ratings Changes

A number of research firms have recently weighed in on COTY. Canaccord Genuity Group set a $3.50 target price on Coty in a report on Monday. Wall Street Zen upgraded Coty from a “sell” rating to a “hold” rating in a research note on Saturday, November 8th. Citigroup dropped their target price on Coty from $4.25 to $3.50 and set a “neutral” rating for the company in a research report on Wednesday, December 17th. Rothschild Redb raised shares of Coty to a “hold” rating in a research report on Tuesday, November 25th. Finally, TD Cowen dropped their price objective on Coty from $3.50 to $3.40 and set a “hold” rating on the stock in a research note on Wednesday, January 21st. Two equities research analysts have rated the stock with a Buy rating, eighteen have assigned a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Reduce” and a consensus price target of $4.82.

Get Our Latest Stock Analysis on COTY

Institutional Trading of Coty

Institutional investors and hedge funds have recently modified their holdings of the business. GAM Holding AG grew its holdings in shares of Coty by 109.7% in the third quarter. GAM Holding AG now owns 650,000 shares of the company’s stock worth $2,626,000 after purchasing an additional 340,000 shares during the last quarter. Edmond DE Rothschild Holding S.A. grew its holdings in Coty by 10.9% in the 2nd quarter. Edmond DE Rothschild Holding S.A. now owns 3,994,553 shares of the company’s stock worth $18,574,000 after acquiring an additional 392,720 shares during the last quarter. Norges Bank purchased a new position in shares of Coty in the second quarter valued at about $52,449,000. Assenagon Asset Management S.A. boosted its holdings in shares of Coty by 6,340.5% during the third quarter. Assenagon Asset Management S.A. now owns 2,883,926 shares of the company’s stock worth $11,651,000 after purchasing an additional 2,839,148 shares during the period. Finally, Thrivent Financial for Lutherans increased its holdings in Coty by 9.1% during the 3rd quarter. Thrivent Financial for Lutherans now owns 8,753,712 shares of the company’s stock valued at $35,365,000 after purchasing an additional 727,404 shares during the period. Hedge funds and other institutional investors own 42.36% of the company’s stock.

Coty Price Performance

The firm has a market cap of $2.36 billion, a P/E ratio of -5.88, a price-to-earnings-growth ratio of 0.24 and a beta of 0.95. The business has a 50-day simple moving average of $3.21 and a 200 day simple moving average of $3.85. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.54 and a current ratio of 0.85.

About Coty

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Coty Inc is a multinational beauty company specializing in the development, manufacturing and marketing of fragrances, color cosmetics and skin and body care products. Established in 1904 by François Coty in Paris, the company has grown through a blend of organic innovation and strategic acquisitions to become one of the leading players in the global beauty industry. Coty’s portfolio encompasses a broad range of consumer and luxury brands, reflecting its commitment to catering to diverse consumer preferences and market segments.

The company’s product offerings span three main divisions: Coty Luxury, Coty Consumer Beauty and Coty Professional Beauty.

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