DA Davidson Equities Analysts Increase Earnings Estimates for Coty Inc (COTY)
Coty Inc (NYSE:COTY) – Stock analysts at DA Davidson raised their Q2 2019 EPS estimates for shares of Coty in a report issued on Monday. DA Davidson analyst L. Weiser now forecasts that the company will earn $0.32 per share for the quarter, up from their previous estimate of $0.29. DA Davidson currently has a “Neutral” rating and a $18.00 price target on the stock.
Other research analysts have also issued reports about the company. Stifel Nicolaus reiterated a “buy” rating on shares of Coty in a research report on Friday, February 9th. Citigroup increased their price objective on Coty from $21.00 to $23.00 and gave the stock a “buy” rating in a research report on Friday, February 9th. BMO Capital Markets increased their price objective on Coty from $22.00 to $24.00 and gave the stock a “buy” rating in a research report on Friday, February 9th. Zacks Investment Research upgraded Coty from a “sell” rating to a “hold” rating in a research report on Tuesday, October 24th. Finally, Royal Bank of Canada reiterated a “hold” rating and issued a $18.00 price objective on shares of Coty in a research report on Friday, October 20th. Three research analysts have rated the stock with a sell rating, eight have assigned a hold rating and seven have issued a buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $19.63.
Coty (NYSE:COTY) last issued its quarterly earnings data on Thursday, February 8th. The company reported $0.32 earnings per share for the quarter, topping the consensus estimate of $0.24 by $0.08. The company had revenue of $2.64 billion during the quarter, compared to analyst estimates of $2.48 billion. Coty had a positive return on equity of 4.45% and a negative net margin of 4.15%. The firm’s revenue for the quarter was up 14.8% compared to the same quarter last year. During the same period in the prior year, the business posted $0.30 earnings per share.
The company also recently declared a quarterly dividend, which will be paid on Thursday, March 15th. Stockholders of record on Wednesday, February 28th will be given a dividend of $0.125 per share. The ex-dividend date is Tuesday, February 27th. This represents a $0.50 annualized dividend and a dividend yield of 2.36%. Coty’s dividend payout ratio is currently -98.04%.
In other news, insider Edgar O. Huber purchased 4,000 shares of the stock in a transaction dated Monday, December 11th. The stock was acquired at an average cost of $17.74 per share, for a total transaction of $70,960.00. Following the completion of the transaction, the insider now directly owns 163,570 shares in the company, valued at approximately $2,901,731.80. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. Also, major shareholder Cosmetics B.V. Jab purchased 2,800,000 shares of the stock in a transaction dated Friday, November 17th. The shares were purchased at an average price of $16.94 per share, with a total value of $47,432,000.00. Following the completion of the transaction, the insider now owns 285,008,041 shares of the company’s stock, valued at $4,828,036,214.54. The disclosure for this purchase can be found here. Company insiders own 1.00% of the company’s stock.
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Coty Inc is a beauty company. The Company operates through four segments: Fragrances, Color Cosmetics, Skin & Body Care and Brazil Acquisition. Its fragrance products include a range of men’s and women’s products. Its fragrance brands include Calvin Klein, Marc Jacobs, Davidoff, Chloe, Balenciaga, Beyonce, Bottega Veneta, Miu Miu and Roberto Cavalli.
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