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 Stock Performance

Shares of COTY stock traded down $0.21 on Wednesday, hitting $10.89. The company’s stock had a trading volume of 5,519,012 shares, compared to its average volume of 4,055,845. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.58 and a current ratio of 0.85. The company has a market capitalization of $9.74 billion, a PE ratio of 47.33, a PEG ratio of 6.49 and a beta of 1.83. Coty has a fifty-two week low of $9.02 and a fifty-two week high of $13.46. The stock’s 50 day moving average is $11.68 and its 200-day moving average is $11.61.

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

Analysts Set New Price Targets

Several research analysts have commented on COTY shares. Royal Bank of Canada restated an outperform rating and set a $14.00 price objective on shares of Coty in a research report on Friday, February 9th. TheStreet raised Coty from a c+ rating to a b- rating in a research note on Thursday, February 8th. Wells Fargo & Company lifted their target price on Coty from $11.00 to $12.00 and gave the company an equal weight rating in a research report on Friday, February 9th. Canaccord Genuity Group initiated coverage on shares of Coty in a report on Monday, April 15th. They issued a buy rating and a $14.00 target price for the company. Finally, TD Cowen decreased their price target on shares of Coty from $16.00 to $13.00 and set a buy rating on the stock in a report on Wednesday, April 17th. Eight investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, Coty has a consensus rating of Hold and an average price target of $13.14.

Insider Buying and Selling at Coty

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