Avon Products, Inc. (NYSE:AVP) – Analysts at DA Davidson boosted their FY2020 earnings per share (EPS) estimates for shares of Avon Products in a research note issued to investors on Monday, May 6th, according to Zacks Investment Research. DA Davidson analyst L. Weiser now forecasts that the company will post earnings per share of $0.27 for the year, up from their previous forecast of $0.20. DA Davidson currently has a “Neutral” rating and a $3.60 price target on the stock. DA Davidson also issued estimates for Avon Products’ FY2021 earnings at $0.37 EPS and FY2022 earnings at $0.53 EPS.
Other equities analysts also recently issued reports about the stock. TheStreet downgraded shares of Avon Products from a “c” rating to a “d” rating in a research note on Friday, February 15th. Zacks Investment Research raised shares of Avon Products from a “strong sell” rating to a “hold” rating in a research note on Tuesday, April 16th. Two investment analysts have rated the stock with a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and an average price target of $2.87.
Avon Products (NYSE:AVP) last posted its quarterly earnings results on Thursday, May 2nd. The company reported $0.03 earnings per share for the quarter, topping the consensus estimate of ($0.01) by $0.04. The business had revenue of $1.12 billion during the quarter, compared to the consensus estimate of $1.24 billion. Avon Products had a negative net margin of 0.60% and a negative return on equity of 6.45%. The firm’s revenue for the quarter was down 14.8% on a year-over-year basis. During the same period in the previous year, the firm posted ($0.02) earnings per share.
Large investors have recently modified their holdings of the company. Two Sigma Advisers LP raised its stake in shares of Avon Products by 22.8% during the fourth quarter. Two Sigma Advisers LP now owns 831,300 shares of the company’s stock valued at $1,264,000 after acquiring an additional 154,510 shares during the last quarter. Virtu Financial LLC raised its stake in Avon Products by 126.7% in the fourth quarter. Virtu Financial LLC now owns 71,772 shares of the company’s stock worth $109,000 after buying an additional 40,112 shares in the last quarter. Investec Asset Management LTD raised its stake in Avon Products by 1.1% in the fourth quarter. Investec Asset Management LTD now owns 10,144,664 shares of the company’s stock worth $15,420,000 after buying an additional 112,200 shares in the last quarter. Vanguard Group Inc raised its stake in Avon Products by 38.2% in the third quarter. Vanguard Group Inc now owns 13,540,024 shares of the company’s stock worth $29,788,000 after buying an additional 3,740,181 shares in the last quarter. Finally, Norges Bank bought a new position in Avon Products in the fourth quarter worth about $10,763,000. 73.39% of the stock is owned by hedge funds and other institutional investors.
About Avon Products
Avon Products, Inc manufactures and markets beauty and related products in Europe, the Middle East, Africa, south Latin America, north Latin America, and the Asia Pacific. The company offers beauty products, including skincare, fragrance, and color cosmetics; and fashion and home products, such as fashion jewelry, watches, apparel, footwear, accessories, gift and decorative products, housewares, entertainment and leisure products, children's products, and nutritional products.
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