Wall Street analysts predict that Coty Inc. (NYSE:COTY) will report $2.22 billion in sales for the current fiscal quarter, according to Zacks Investment Research. Six analysts have made estimates for Coty’s earnings, with the highest sales estimate coming in at $2.27 billion and the lowest estimate coming in at $2.16 billion. Coty posted sales of $1.08 billion during the same quarter last year, which suggests a positive year over year growth rate of 105.6%. The firm is scheduled to announce its next quarterly earnings report on Wednesday, November 8th.
According to Zacks, analysts expect that Coty will report full year sales of $2.22 billion for the current financial year, with estimates ranging from $8.78 billion to $9.29 billion. For the next year, analysts expect that the company will post sales of $9.25 billion per share, with estimates ranging from $8.99 billion to $9.56 billion. Zacks’ sales calculations are an average based on a survey of research firms that cover Coty.
Several research firms have recently weighed in on COTY. Bank of America Corporation reduced their target price on shares of Coty from $23.00 to $21.00 and set a “buy” rating for the company in a research note on Wednesday, August 23rd. KeyCorp reiterated a “hold” rating on shares of Coty in a research note on Friday, August 25th. Jefferies Group LLC reiterated a “hold” rating and issued a $18.00 target price (up previously from $17.00) on shares of Coty in a research note on Wednesday, August 23rd. Stifel Nicolaus set a $25.00 target price on shares of Coty and gave the stock a “buy” rating in a research note on Monday, August 21st. Finally, BidaskClub downgraded shares of Coty from a “hold” rating to a “sell” rating in a research note on Monday, August 14th. Five investment analysts have rated the stock with a sell rating, eight have given a hold rating and five have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $20.04.
The business also recently announced a quarterly dividend, which was paid on Thursday, September 14th. Shareholders of record on Friday, September 1st were given a dividend of $0.125 per share. The ex-dividend date of this dividend was Wednesday, August 30th. This represents a $0.50 annualized dividend and a yield of 2.97%. Coty’s payout ratio is presently -87.72%.
In related news, insider Sylvie Moreau bought 48,153 shares of the company’s stock in a transaction on Thursday, August 24th. The stock was acquired at an average cost of $16.79 per share, for a total transaction of $808,488.87. Following the completion of the transaction, the insider now directly owns 97,035 shares in the company, valued at approximately $1,629,217.65. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder Cosmetics B.V. Jab bought 2,600,000 shares of the company’s stock in a transaction on Monday, August 28th. The shares were bought at an average price of $16.30 per share, with a total value of $42,380,000.00. Following the completion of the transaction, the insider now owns 276,408,041 shares of the company’s stock, valued at $4,505,451,068.30. The disclosure for this purchase can be found here. Over the last quarter, insiders have acquired 2,979,505 shares of company stock valued at $48,661,242. 1.00% of the stock is currently owned by company insiders.
Coty Company Profile
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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