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).
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