Zacks: Brokerages Anticipate Coty Inc (COTY) to Post $0.07 EPS

Brokerages expect Coty Inc (NYSE:COTY) to announce earnings of $0.07 per share for the current fiscal quarter, Zacks reports. Six analysts have provided estimates for Coty’s earnings, with the lowest EPS estimate coming in at $0.06 and the highest estimate coming in at $0.08. Coty reported earnings of $0.10 per share in the same quarter last year, which indicates a negative year over year growth rate of 30%. The business is scheduled to issue its next earnings results on Thursday, November 8th.

According to Zacks, analysts expect that Coty will report full-year earnings of $0.74 per share for the current financial year, with EPS estimates ranging from $0.70 to $0.78. For the next year, analysts forecast that the company will post earnings of $0.86 per share, with EPS estimates ranging from $0.77 to $0.96. Zacks’ EPS averages are an average based on a survey of analysts that cover Coty.

Coty (NYSE:COTY) last posted its quarterly earnings results on Tuesday, August 21st. The company reported $0.14 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.13 by $0.01. The firm had revenue of $2.30 billion for the quarter, compared to analysts’ expectations of $2.31 billion. Coty had a positive return on equity of 5.55% and a negative net margin of 1.80%. Coty’s revenue was up 2.6% compared to the same quarter last year.

COTY has been the topic of a number of research analyst reports. Societe Generale cut Coty from a “buy” rating to a “hold” rating in a report on Wednesday, August 22nd. Bank of America cut Coty from a “buy” rating to an “underperform” rating and cut their price target for the stock from $16.00 to $10.00 in a report on Thursday, August 16th. JPMorgan Chase & Co. set a $11.00 price target on Coty and gave the stock a “sell” rating in a report on Friday, September 7th. Wells Fargo & Co set a $11.00 target price on Coty and gave the stock a “hold” rating in a research report on Thursday, September 13th. Finally, Morgan Stanley raised Coty from an “equal weight” rating to an “overweight” rating and lowered their target price for the stock from $17.00 to $14.50 in a research report on Tuesday, August 28th. Four equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and five have issued a buy rating to the company. The company has an average rating of “Hold” and an average target price of $15.40.

Coty stock opened at $11.03 on Wednesday. The company has a market cap of $9.43 billion, a price-to-earnings ratio of 15.99, a price-to-earnings-growth ratio of 1.63 and a beta of 0.21. Coty has a 52-week low of $10.73 and a 52-week high of $21.68. The company has a current ratio of 0.90, a quick ratio of 0.62 and a debt-to-equity ratio of 0.82.

The company also recently announced a quarterly dividend, which was paid on Friday, September 14th. Stockholders of record on Friday, August 31st were given a dividend of $0.125 per share. This represents a $0.50 dividend on an annualized basis and a dividend yield of 4.53%. The ex-dividend date was Thursday, August 30th. Coty’s payout ratio is 72.46%.

In other news, Director Robert S. Singer bought 20,000 shares of the stock in a transaction dated Thursday, August 23rd. The shares were bought at an average cost of $11.50 per share, with a total value of $230,000.00. Following the completion of the transaction, the director now directly owns 175,000 shares of the company’s stock, valued at $2,012,500. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder Cosmetics B.V. Jab bought 2,600,000 shares of the stock in a transaction dated Tuesday, August 28th. The shares were purchased at an average cost of $12.29 per share, for a total transaction of $31,954,000.00. Following the completion of the transaction, the insider now directly owns 291,138,041 shares of the company’s stock, valued at $3,578,086,523.89. The disclosure for this purchase can be found here. Insiders have bought 3,655,000 shares of company stock worth $44,583,400 over the last ninety days. 1.20% of the stock is owned by insiders.

Large investors have recently modified their holdings of the company. FMR LLC raised its position in Coty by 31.5% in the 2nd quarter. FMR LLC now owns 54,828,166 shares of the company’s stock valued at $773,077,000 after buying an additional 13,121,191 shares during the last quarter. BlackRock Inc. raised its position in Coty by 2.9% in the 2nd quarter. BlackRock Inc. now owns 29,976,989 shares of the company’s stock valued at $422,676,000 after buying an additional 833,021 shares during the last quarter. Bank of New York Mellon Corp raised its position in Coty by 17.3% in the 2nd quarter. Bank of New York Mellon Corp now owns 20,340,088 shares of the company’s stock valued at $286,796,000 after buying an additional 2,995,010 shares during the last quarter. Legal & General Group Plc raised its position in Coty by 11.4% in the 1st quarter. Legal & General Group Plc now owns 4,063,561 shares of the company’s stock valued at $74,322,000 after buying an additional 414,781 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its position in Coty by 3.8% in the 2nd quarter. Dimensional Fund Advisors LP now owns 3,726,595 shares of the company’s stock valued at $52,541,000 after buying an additional 135,658 shares during the last quarter. 66.84% of the stock is currently owned by institutional investors.

About Coty

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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