Brokers Issue Forecasts for Coty Inc.’s Q2 2023 Earnings (NYSE:COTY)

Coty Inc. (NYSE:COTYGet Rating) – Stock analysts at Jefferies Financial Group cut their Q2 2023 earnings estimates for shares of Coty in a research note issued to investors on Tuesday, April 19th. Jefferies Financial Group analyst S. Wissink now expects that the company will earn $0.10 per share for the quarter, down from their prior forecast of $0.11. Jefferies Financial Group also issued estimates for Coty’s FY2023 earnings at $0.28 EPS.

Coty (NYSE:COTYGet Rating) last issued its quarterly earnings data on Tuesday, February 8th. The company reported $0.17 earnings per share for the quarter, beating analysts’ consensus estimates of $0.12 by $0.05. Coty had a return on equity of 6.43% and a net margin of 2.69%. The firm had revenue of $1.58 billion during the quarter, compared to analyst estimates of $1.60 billion. During the same quarter last year, the firm earned $0.17 EPS. Coty’s quarterly revenue was up 11.5% on a year-over-year basis.

A number of other research firms also recently commented on COTY. Raymond James reduced their target price on Coty from $13.00 to $12.00 and set an “outperform” rating on the stock in a report on Monday, April 18th. Morgan Stanley raised their price target on Coty from $8.25 to $11.00 and gave the stock an “equal weight” rating in a report on Tuesday, January 18th. StockNews.com raised Coty from a “hold” rating to a “buy” rating in a report on Thursday. JPMorgan Chase & Co. cut their price target on Coty from $12.00 to $10.00 and set a “neutral” rating on the stock in a report on Wednesday, March 30th. Finally, Zacks Investment Research raised Coty from a “hold” rating to a “buy” rating and set a $10.00 price target on the stock in a report on Thursday, January 20th. Four investment analysts have rated the stock with a hold rating, seven have issued a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Buy” and a consensus price target of $12.21.

NYSE:COTY opened at $8.07 on Thursday. The company has a quick ratio of 0.55, a current ratio of 0.75 and a debt-to-equity ratio of 1.33. The business’s 50 day moving average is $8.73 and its two-hundred day moving average is $9.13. Coty has a 52 week low of $7.24 and a 52 week high of $11.12. The company has a market cap of $6.61 billion, a PE ratio of 115.29 and a beta of 2.47.

In other news, CEO Sue Nabi purchased 4,786 shares of the stock in a transaction dated Thursday, March 10th. The shares were bought at an average cost of $8.00 per share, for a total transaction of $38,288.00. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Bretten Gordon Von purchased 13,514 shares of the stock in a transaction dated Tuesday, March 8th. The shares were purchased at an average price of $7.40 per share, for a total transaction of $100,003.60. The disclosure for this purchase can be found here. Insiders have acquired a total of 37,692 shares of company stock worth $290,907 in the last ninety days. 3.10% of the stock is owned by company insiders.

Several hedge funds have recently modified their holdings of the company. Morgan Stanley grew its holdings in shares of Coty by 18.5% in the 2nd quarter. Morgan Stanley now owns 1,713,170 shares of the company’s stock worth $16,001,000 after acquiring an additional 266,863 shares during the last quarter. New York State Teachers Retirement System grew its holdings in shares of Coty by 3.6% in the 3rd quarter. New York State Teachers Retirement System now owns 337,103 shares of the company’s stock worth $2,650,000 after acquiring an additional 11,771 shares during the last quarter. State of New Jersey Common Pension Fund D grew its holdings in shares of Coty by 19.8% in the 3rd quarter. State of New Jersey Common Pension Fund D now owns 339,283 shares of the company’s stock worth $2,667,000 after acquiring an additional 56,104 shares during the last quarter. Texas Permanent School Fund boosted its position in shares of Coty by 17.2% in the third quarter. Texas Permanent School Fund now owns 247,517 shares of the company’s stock worth $1,945,000 after buying an additional 36,276 shares during the period. Finally, Commonwealth Equity Services LLC boosted its position in shares of Coty by 13.6% in the third quarter. Commonwealth Equity Services LLC now owns 33,180 shares of the company’s stock worth $260,000 after buying an additional 3,960 shares during the period. Institutional investors own 34.68% of the company’s stock.

Coty Company Profile (Get Rating)

Coty Inc, together with its subsidiaries, engages in the manufacture, marketing, distribution, and sale of beauty products worldwide. The company provides prestige fragrances, skin care, and color cosmetics products through prestige retailers, including perfumeries, department stores, e-retailers, direct-to-consumer websites, and duty-free shops under the Alexander McQueen, Burberry, Bottega Veneta, Calvin Klein, Cavalli, Chloe, Davidoff, Escada, Gucci, Hugo Boss, Jil Sander, Joop!, Kylie Jenner, Lacoste, Lancaster, Marc Jacobs, Miu Miu, Nikos, philosophy, Kim Kardashian West, and Tiffany & Co brands.

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Earnings History and Estimates for Coty (NYSE:COTY)

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