Coty (NYSE:COTY) posted its earnings results on Wednesday, May 8th. The company reported $0.13 EPS for the quarter, topping analysts’ consensus estimates of $0.12 by $0.01, MarketWatch Earnings reports. The firm had revenue of $1.99 billion during the quarter, compared to analysts’ expectations of $2.06 billion. Coty had a negative net margin of 13.20% and a positive return on equity of 5.78%. The business’s revenue for the quarter was down 10.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.13 earnings per share.
Shares of COTY stock opened at $12.57 on Friday. The company has a market cap of $9.48 billion, a PE ratio of 20.35, a P/E/G ratio of 2.89 and a beta of 0.88. Coty has a 52 week low of $5.91 and a 52 week high of $14.87. The company has a debt-to-equity ratio of 1.00, a current ratio of 0.95 and a quick ratio of 0.62.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Thursday, June 6th will be given a dividend of $0.125 per share. This represents a $0.50 annualized dividend and a dividend yield of 3.98%. The ex-dividend date is Wednesday, June 5th. Coty’s dividend payout ratio (DPR) is 72.46%.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Bank of New York Mellon Corp lifted its stake in Coty by 36.4% during the 4th quarter. Bank of New York Mellon Corp now owns 33,881,957 shares of the company’s stock valued at $222,265,000 after acquiring an additional 9,045,935 shares in the last quarter. Norges Bank bought a new position in Coty during the 4th quarter valued at $36,720,000. FMR LLC lifted its stake in Coty by 7.9% during the 4th quarter. FMR LLC now owns 63,208,973 shares of the company’s stock valued at $414,651,000 after acquiring an additional 4,636,912 shares in the last quarter. OppenheimerFunds Inc. lifted its stake in Coty by 3,576.5% during the 1st quarter. OppenheimerFunds Inc. now owns 3,791,689 shares of the company’s stock valued at $43,604,000 after acquiring an additional 3,688,556 shares in the last quarter. Finally, Contrarius Investment Management Ltd lifted its stake in Coty by 85.1% during the 4th quarter. Contrarius Investment Management Ltd now owns 6,410,041 shares of the company’s stock valued at $42,050,000 after acquiring an additional 2,946,600 shares in the last quarter. 73.45% of the stock is owned by institutional investors and hedge funds.
A number of research firms have recently commented on COTY. ValuEngine raised shares of Coty from a “strong sell” rating to a “sell” rating in a report on Monday, April 1st. Stifel Nicolaus lowered shares of Coty from a “buy” rating to a “hold” rating and set a $12.00 price objective for the company. in a report on Wednesday, April 17th. Wells Fargo & Co reiterated a “hold” rating and issued a $11.00 price objective on shares of Coty in a report on Wednesday, May 8th. Bank of America assumed coverage on shares of Coty in a report on Thursday, May 9th. They issued a “neutral” rating and a $12.00 price objective for the company. Finally, BMO Capital Markets raised their price objective on shares of Coty to $15.00 and gave the company a “positive” rating in a report on Thursday, May 9th. Eleven analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $12.50.
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Coty Company Profile
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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