Estée Lauder Companies (NYSE:EL) Updates FY 2024 Earnings Guidance

Estée Lauder Companies (NYSE:EL) issued an update on its FY 2024 earnings guidance on Wednesday morning. The company provided earnings per share (EPS) guidance of 2.140-2.240 for the period, compared to the consensus estimate of 2.250. The company issued revenue guidance of $15.4 billion-$15.6 billion, compared to the consensus revenue estimate of $15.8 billion. Estée Lauder Companies also updated its FY24 guidance to $2.14-2.24 EPS.

Estée Lauder Companies Price Performance

Shares of Estée Lauder Companies stock traded down $2.00 during trading on Friday, hitting $132.94. 3,791,987 shares of the company’s stock traded hands, compared to its average volume of 2,776,756. Estée Lauder Companies has a twelve month low of $102.22 and a twelve month high of $209.64. The company has a market cap of $47.66 billion, a PE ratio of 74.69, a PEG ratio of 3.56 and a beta of 1.07. The firm’s fifty day moving average price is $145.88 and its 200 day moving average price is $138.18. The company has a debt-to-equity ratio of 1.26, a current ratio of 1.58 and a quick ratio of 0.96.

Estée Lauder Companies (NYSE:EL) last announced its quarterly earnings results on Wednesday, May 1st. The company reported $0.97 EPS for the quarter, beating the consensus estimate of $0.48 by $0.49. Estée Lauder Companies had a return on equity of 13.08% and a net margin of 4.18%. The business had revenue of $3.94 billion for the quarter, compared to analyst estimates of $3.92 billion. During the same quarter in the previous year, the firm earned $0.47 EPS. Estée Lauder Companies’s quarterly revenue was up 5.0% on a year-over-year basis. Analysts forecast that Estée Lauder Companies will post 2.22 earnings per share for the current year.

Estée Lauder Companies Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, June 17th. Investors of record on Friday, May 31st will be issued a dividend of $0.66 per share. This represents a $2.64 annualized dividend and a yield of 1.99%. The ex-dividend date is Thursday, May 30th. Estée Lauder Companies’s dividend payout ratio is currently 148.31%.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on EL shares. Royal Bank of Canada raised their price objective on shares of Estée Lauder Companies from $115.00 to $131.00 and gave the stock a sector perform rating in a report on Tuesday, February 6th. Barclays dropped their price target on Estée Lauder Companies from $150.00 to $140.00 and set an equal weight rating for the company in a report on Friday. Deutsche Bank Aktiengesellschaft reduced their price objective on Estée Lauder Companies from $160.00 to $159.00 in a research note on Wednesday. Morgan Stanley lowered Estée Lauder Companies from an overweight rating to an equal weight rating and lowered their target price for the company from $164.00 to $140.00 in a research note on Friday. Finally, StockNews.com raised shares of Estée Lauder Companies from a sell rating to a hold rating in a report on Thursday. Seventeen analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of Hold and a consensus target price of $160.92.

About Estée Lauder Companies

The Estée Lauder Companies Inc manufactures, markets, and sells skin care, makeup, fragrance, and hair care products worldwide. It offers skin care products, including moisturizers, serums, cleansers, toners, body care, exfoliators, acne care and oil correctors, facial masks, and sun care products; and makeup products, such as lipsticks, lip glosses, mascaras, foundations, eyeshadows, nail polishes, and powders, as well as compacts, brushes, and other makeup tools.