Coty Inc Forecasted to Earn Q3 2019 Earnings of $0.13 Per Share (COTY)

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Coty Inc (NYSE:COTY) – Equities research analysts at DA Davidson dropped their Q3 2019 EPS estimates for shares of Coty in a report issued on Monday, February 11th. DA Davidson analyst L. Weiser now forecasts that the company will post earnings of $0.13 per share for the quarter, down from their prior forecast of $0.14. DA Davidson also issued estimates for Coty’s Q4 2019 earnings at $0.16 EPS, FY2019 earnings at $0.64 EPS, Q1 2020 earnings at $0.10 EPS, Q2 2020 earnings at $0.28 EPS, Q3 2020 earnings at $0.18 EPS, Q4 2020 earnings at $0.21 EPS and FY2020 earnings at $0.77 EPS.

Coty (NYSE:COTY) last announced its quarterly earnings results on Friday, February 8th. The company reported $0.24 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.22 by $0.02. The business had revenue of $2.51 billion for the quarter, compared to the consensus estimate of $2.47 billion. Coty had a positive return on equity of 5.38% and a negative net margin of 13.58%. The business’s revenue was down 4.8% on a year-over-year basis. During the same quarter last year, the business posted $0.32 EPS.

Several other analysts also recently weighed in on the company. Zacks Investment Research raised Coty from a “sell” rating to a “hold” rating in a research note on Friday, January 18th. TheStreet downgraded Coty from a “c-” rating to a “d+” rating in a research note on Friday, December 7th. Jefferies Financial Group set a $10.00 target price on Coty and gave the company a “hold” rating in a research note on Wednesday, November 7th. JPMorgan Chase & Co. raised Coty from an “underweight” rating to a “neutral” rating and set a $7.00 target price on the stock in a research note on Friday, January 4th. Finally, Morgan Stanley reaffirmed an “equal weight” rating and set a $10.00 target price (down previously from $14.50) on shares of Coty in a research note on Thursday, November 8th. Three research analysts have rated the stock with a sell rating, nine have given a hold rating and four have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $12.68.

Shares of NYSE COTY opened at $11.17 on Tuesday. The company has a market capitalization of $7.01 billion, a P/E ratio of 16.19, a P/E/G ratio of 2.13 and a beta of 0.81. Coty has a 12-month low of $5.91 and a 12-month high of $21.68. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.66 and a current ratio of 0.96.

Several hedge funds have recently modified their holdings of COTY. Bank of New York Mellon Corp increased its position in shares of Coty by 819,570.7% during the 3rd quarter. Bank of New York Mellon Corp now owns 24,836,022 shares of the company’s stock valued at $311,939,000 after purchasing an additional 24,832,992 shares during the period. FMR LLC grew its holdings in shares of Coty by 31.5% in the 2nd quarter. FMR LLC now owns 54,828,166 shares of the company’s stock worth $773,077,000 after acquiring an additional 13,121,191 shares during the last quarter. Franklin Resources Inc. grew its holdings in shares of Coty by 21.2% in the 3rd quarter. Franklin Resources Inc. now owns 50,872,038 shares of the company’s stock worth $638,952,000 after acquiring an additional 8,894,234 shares during the last quarter. Thompson Siegel & Walmsley LLC acquired a new position in shares of Coty in the 3rd quarter worth $59,090,000. Finally, Mackenzie Financial Corp grew its holdings in shares of Coty by 43.6% in the 3rd quarter. Mackenzie Financial Corp now owns 12,742,524 shares of the company’s stock worth $160,046,000 after acquiring an additional 3,868,062 shares during the last quarter. Institutional investors own 66.98% of the company’s stock.

In other news, major shareholder Cosmetics B.V. Jab purchased 5,400,000 shares of the stock in a transaction dated Friday, November 16th. The shares were bought at an average cost of $8.89 per share, for a total transaction of $48,006,000.00. Following the transaction, the insider now owns 294,508,041 shares in the company, valued at $2,618,176,484.49. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 1.20% of the stock is currently owned by company insiders.

The company also recently declared a quarterly dividend, which will be paid on Friday, March 15th. Stockholders of record on Thursday, February 28th will be given a dividend of $0.125 per share. This represents a $0.50 annualized dividend and a dividend yield of 4.48%. The ex-dividend date of this dividend is Wednesday, February 27th. Coty’s dividend payout ratio (DPR) is presently 72.46%.

Coty Company Profile

Coty Inc, together with its subsidiaries, manufactures, markets, distributes, and sells beauty products worldwide. It operates in three segments: Luxury, Consumer Beauty, and Professional Beauty. The Luxury segment offers prestige fragrances, and skincare and cosmetics products through various retailers, including perfumeries, department stores, and duty-free shops under the Alexander McQueen, Balenciaga, Burberry, Bottega Veneta, Calvin Klein, Cavalli, Chloe, Davidoff, Escada, Gucci, Hugo Boss, Jil Sander, Joop!, Lacoste, Lancaster, Marc Jacobs, Miu Miu, philosophy, Stella McCartney, and Tiffany & Co brands.

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Earnings History and Estimates for Coty (NYSE:COTY)

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