Coty Inc (NYSE:COTY) – Research analysts at DA Davidson dropped their Q1 2020 EPS estimates for Coty in a research note issued to investors on Thursday, May 9th. DA Davidson analyst L. Weiser now anticipates that the company will post earnings of $0.09 per share for the quarter, down from their prior forecast of $0.10.
A number of other analysts have also recently weighed in on the company. Bank of America assumed coverage on Coty in a research report on Thursday. They issued a “neutral” rating and a $12.00 price target on the stock. BMO Capital Markets upped their price target on Coty to $15.00 and gave the company a “positive” rating in a research report on Thursday. Wells Fargo & Co reiterated a “hold” rating and issued a $11.00 price target on shares of Coty in a research report on Wednesday. Stifel Nicolaus cut Coty from a “buy” rating to a “hold” rating and set a $12.00 price target on the stock. in a research report on Wednesday, April 17th. Finally, Citigroup cut Coty from a “buy” rating to a “neutral” rating and lowered their price target for the company from $13.00 to $12.00 in a research report on Tuesday, April 2nd. One investment analyst has rated the stock with a sell rating, thirteen have given a hold rating and two have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $13.38.
Coty (NYSE:COTY) last announced its quarterly earnings results on Wednesday, May 8th. The company reported $0.13 earnings per share for the quarter, beating analysts’ consensus estimates of $0.12 by $0.01. Coty had a positive return on equity of 5.38% and a negative net margin of 13.58%. The firm had revenue of $1.99 billion for the quarter, compared to analysts’ expectations of $2.06 billion. During the same period in the prior year, the business posted $0.13 earnings per share. The business’s revenue was down 10.4% compared to the same quarter last year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Thursday, June 6th will be issued a dividend of $0.125 per share. This represents a $0.50 annualized dividend and a dividend yield of 4.32%. The ex-dividend date of this dividend is Wednesday, June 5th. Coty’s payout ratio is presently 72.46%.
In other Coty news, major shareholder Holdco B.V. Cottage bought 150,000,000 shares of the firm’s stock in a transaction dated Tuesday, April 30th. The shares were bought at an average price of $11.65 per share, for a total transaction of $1,747,500,000.00. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.20% of the stock is currently owned by corporate insiders.
A number of institutional investors have recently bought and sold shares of the stock. Advisor Group Inc. boosted its holdings in Coty by 35.7% in the first quarter. Advisor Group Inc. now owns 3,359 shares of the company’s stock valued at $40,000 after acquiring an additional 883 shares during the last quarter. BlackRock Inc. boosted its holdings in Coty by 1.8% in the first quarter. BlackRock Inc. now owns 31,892,606 shares of the company’s stock valued at $366,764,000 after acquiring an additional 572,108 shares during the last quarter. Jackson Wealth Management LLC bought a new position in Coty in the first quarter valued at about $6,038,000. Magnus Financial Group LLC boosted its holdings in Coty by 11.6% in the first quarter. Magnus Financial Group LLC now owns 15,233 shares of the company’s stock valued at $175,000 after acquiring an additional 1,588 shares during the last quarter. Finally, Parametric Portfolio Associates LLC boosted its holdings in Coty by 58.7% in the first quarter. Parametric Portfolio Associates LLC now owns 3,121,493 shares of the company’s stock valued at $35,897,000 after acquiring an additional 1,154,562 shares during the last quarter. Institutional investors and hedge funds own 66.31% of the company’s stock.
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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