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 Price Performance

Shares of COTY stock traded down $0.40 during trading hours on Tuesday, reaching $11.10. The company’s stock had a trading volume of 10,513,070 shares, compared to its average volume of 4,039,215. Coty has a fifty-two week low of $9.02 and a fifty-two week high of $13.46. The company has a market capitalization of $9.94 billion, a price-to-earnings ratio of 31.72, a PEG ratio of 6.49 and a beta of 1.83. The company has a quick ratio of 0.58, a current ratio of 0.85 and a debt-to-equity ratio of 0.80. The firm’s 50 day simple moving average is $11.76 and its 200-day simple moving average is $11.61.

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

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the stock. DA Davidson decreased their price target on shares of Coty from $17.50 to $16.50 and set a buy rating for the company in a research note on Tuesday. Wells Fargo & Company raised their target price on shares of Coty from $11.00 to $12.00 and gave the stock an equal weight rating in a report on Friday, February 9th. TD Cowen decreased their price objective on shares of Coty from $16.00 to $13.00 and set a buy rating on the stock in a research report on Wednesday, April 17th. Canaccord Genuity Group assumed coverage on shares of Coty in a research report on Monday, April 15th. They set a buy rating and a $14.00 price objective on the stock. Finally, Citigroup reduced their price target on shares of Coty from $13.00 to $12.00 and set a neutral rating on the stock in a report on Tuesday, April 16th. Eight investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of Hold and a consensus target price of $13.14.

Insider Activity at Coty

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

About Coty

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.