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.
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.
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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