Coty (COTY) Shares Up 14.2% After Better-Than-Expected Earnings

Shares of Coty Inc (NYSE:COTY) shot up 14.2% on Thursday following a stronger than expected earnings report. The company traded as high as $20.25 and last traded at $19.96. 15,120,823 shares traded hands during mid-day trading, an increase of 199% from the average session volume of 5,059,597 shares. The stock had previously closed at $17.48.

The company reported $0.32 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.24 by $0.08. The firm had revenue of $2.64 billion during the quarter, compared to analysts’ expectations of $2.48 billion. Coty had a negative net margin of 5.02% and a positive return on equity of 4.26%. The company’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 company posted $0.30 earnings per share.

Several research firms recently weighed in on COTY. Royal Bank of Canada raised shares of Coty from a “sector perform” rating to an “outperform” rating in a research note on Thursday, December 21st. Citigroup raised shares of Coty from a “neutral” rating to a “buy” rating and set a $21.00 target price for the company in a research note on Tuesday, December 12th. Wells Fargo & Co set a $17.00 target price on shares of Coty and gave the company a “hold” rating in a research note on Monday, December 11th. BMO Capital Markets reaffirmed a “buy” rating on shares of Coty in a research note on Sunday, November 12th. Finally, DA Davidson raised their target price on shares of Coty from $17.50 to $18.00 and gave the company a “neutral” rating in a research note on Friday, November 10th. 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 company. Coty presently has an average rating of “Hold” and a consensus price target of $19.23.

In other Coty news, insider Edgar O. Huber acquired 4,000 shares of the stock in a transaction on Monday, December 11th. The stock was acquired at an average price 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 of the company’s stock, valued at $2,901,731.80. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder Cosmetics B.V. Jab acquired 1,800,000 shares of the stock in a transaction on Monday, November 13th. The shares were acquired at an average price of $16.70 per share, with a total value of $30,060,000.00. Following the transaction, the insider now directly owns 279,608,041 shares of the company’s stock, valued at $4,669,454,284.70. The disclosure for this purchase can be found here. Insiders have purchased 10,004,000 shares of company stock valued at $168,552,960 over the last ninety days. 1.00% of the stock is currently owned by corporate insiders.

The company has a current ratio of 1.08, a quick ratio of 0.78 and a debt-to-equity ratio of 0.80. The firm has a market cap of $13,063.63, a PE ratio of -32.72, a P/E/G ratio of 1.75 and a beta of 0.32.

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About Coty

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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