Wall Street brokerages predict that Coty Inc (NYSE:COTY) will report $2.31 billion in sales for the current fiscal quarter, Zacks Investment Research reports. Six analysts have provided estimates for Coty’s earnings. The lowest sales estimate is $2.29 billion and the highest is $2.38 billion. Coty posted sales of $2.24 billion in the same quarter last year, which would indicate a positive year-over-year growth rate of 3.1%. The business is scheduled to report its next earnings report before the market opens on Tuesday, August 21st.
According to Zacks, analysts expect that Coty will report full year sales of $9.40 billion for the current fiscal year, with estimates ranging from $9.38 billion to $9.47 billion. For the next fiscal year, analysts anticipate that the business will report sales of $9.34 billion per share, with estimates ranging from $9.09 billion to $9.68 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side analysts that follow Coty.
Several research analysts have commented on COTY shares. Zacks Investment Research lowered Coty from a “hold” rating to a “sell” rating in a research report on Monday, April 16th. ValuEngine lowered Coty from a “hold” rating to a “sell” rating in a research report on Wednesday, May 2nd. Consumer Edge raised Coty from a “neutral” rating to an “outperform” rating in a research report on Tuesday, May 8th. Wells Fargo & Co set a $15.00 price objective on Coty and gave the company a “hold” rating in a research report on Wednesday, May 9th. Finally, Berenberg Bank raised Coty from a “sell” rating to a “hold” rating in a research report on Thursday, May 10th. Three research analysts have rated the stock with a sell rating, nine have assigned a hold rating and six have given a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $17.50.
In other Coty news, insider Daniel E. Ramos bought 46,700 shares of the company’s stock in a transaction dated Tuesday, May 15th. The shares were acquired at an average cost of $14.34 per share, with a total value of $669,678.00. Following the completion of the transaction, the insider now owns 89,815 shares in the company, valued at $1,287,947.10. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 1.00% of the stock is currently owned by insiders.
A number of large investors have recently bought and sold shares of COTY. Point72 Asia Hong Kong Ltd acquired a new position in Coty in the first quarter worth about $105,000. Rothschild Investment Corp IL acquired a new position in Coty in the second quarter worth about $159,000. Crawford Investment Counsel Inc. acquired a new position in Coty in the first quarter worth about $184,000. IBM Retirement Fund acquired a new position in Coty in the first quarter worth about $188,000. Finally, TLP Group LLC acquired a new position in Coty in the first quarter worth about $224,000. Institutional investors and hedge funds own 65.63% of the company’s stock.
Coty Inc, together with its subsidiaries, manufactures, markets, sells, and distributes beauty products worldwide. It operates in three segments: Consumer Beauty, Luxury, and Professional Beauty. The Consumer Beauty segment offers color cosmetics, retail hair coloring and styling products, body care products, and mass fragrances primarily through hypermarkets, supermarkets, drug stores and pharmacies, mid-tier department stores, and traditional food and drug retailers, as well as own branded e-commerce and direct to consumer Websites.
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