Avon Products, Inc. (AVP) Coverage Initiated by Analysts at Jefferies Group LLC

Jefferies Group LLC began coverage on shares of Avon Products, Inc. (NYSE:AVP) in a research report report published on Wednesday morning, MarketBeat Ratings reports. The brokerage issued an underperform rating and a $2.20 price objective on the stock. Jefferies Group also issued estimates for Avon Products’ Q3 2017 earnings at $0.07 EPS, Q4 2017 earnings at $0.13 EPS, FY2017 earnings at $0.10 EPS, Q1 2018 earnings at ($0.01) EPS, Q2 2018 earnings at $0.03 EPS, Q3 2018 earnings at $0.09 EPS, Q4 2018 earnings at $0.14 EPS, FY2018 earnings at $0.25 EPS, Q1 2019 earnings at $0.02 EPS, Q2 2019 earnings at $0.08 EPS and FY2019 earnings at $0.40 EPS.

AVP has been the subject of several other research reports. Stifel Nicolaus reaffirmed a hold rating on shares of Avon Products in a research note on Thursday, August 3rd. Zacks Investment Research lowered Avon Products from a hold rating to a strong sell rating in a research note on Tuesday, July 11th. ValuEngine lowered Avon Products from a hold rating to a sell rating in a research note on Friday, August 4th. Deutsche Bank AG reaffirmed a hold rating and set a $3.00 price target (down previously from $5.00) on shares of Avon Products in a research note on Friday, August 4th. Finally, Royal Bank Of Canada dropped their price target on Avon Products from $4.00 to $3.00 and set a sector perform rating for the company in a research note on Friday, August 4th. Four equities research analysts have rated the stock with a sell rating and five have assigned a hold rating to the company. The company presently has an average rating of Hold and an average target price of $3.71.

Avon Products (AVP) opened at 2.54 on Wednesday. The firm’s market cap is $1.12 billion. Avon Products has a one year low of $2.40 and a one year high of $6.96. The firm has a 50-day moving average price of $2.75 and a 200-day moving average price of $3.66.

Avon Products (NYSE:AVP) last issued its quarterly earnings results on Thursday, August 3rd. The company reported ($0.03) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.07 by ($0.10). Avon Products had a negative return on equity of 3.68% and a negative net margin of 0.99%. The firm had revenue of $1.40 billion for the quarter, compared to the consensus estimate of $1.44 billion. During the same period last year, the firm earned $0.07 EPS. The company’s revenue for the quarter was down 2.7% on a year-over-year basis. On average, equities analysts expect that Avon Products will post $0.15 EPS for the current fiscal year.

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Several institutional investors and hedge funds have recently added to or reduced their stakes in AVP. BlackRock Inc. increased its holdings in shares of Avon Products by 14,920.7% in the first quarter. BlackRock Inc. now owns 46,294,214 shares of the company’s stock worth $203,696,000 after buying an additional 45,986,012 shares during the period. FMR LLC increased its holdings in shares of Avon Products by 219.8% in the second quarter. FMR LLC now owns 29,804,223 shares of the company’s stock worth $113,256,000 after buying an additional 20,485,474 shares during the period. Bank of New York Mellon Corp increased its holdings in shares of Avon Products by 44.7% in the first quarter. Bank of New York Mellon Corp now owns 18,164,379 shares of the company’s stock worth $79,923,000 after buying an additional 5,611,575 shares during the period. Arrowstreet Capital Limited Partnership increased its holdings in shares of Avon Products by 155.6% in the second quarter. Arrowstreet Capital Limited Partnership now owns 3,517,308 shares of the company’s stock worth $13,366,000 after buying an additional 2,141,208 shares during the period. Finally, Goldman Sachs Group Inc. increased its holdings in shares of Avon Products by 49.8% in the second quarter. Goldman Sachs Group Inc. now owns 5,878,183 shares of the company’s stock worth $22,338,000 after buying an additional 1,953,010 shares during the period. Hedge funds and other institutional investors own 84.24% of the company’s stock.

Avon Products Company Profile

Avon Products, Inc is a manufacturer and marketer of beauty and related products. The Company’s segments include Europe, Middle East & Africa; South Latin America; North Latin America, and Asia Pacific. Its product categories are Beauty, and Fashion and Home. Beauty consists of skincare (which includes personal care), fragrance and color (cosmetics).

Analyst Recommendations for Avon Products (NYSE:AVP)

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