Coty (NYSE:COTY) Sets New 12-Month Low Following Weak Earnings

Coty Inc. (NYSE:COTY) reached a new 52-week low during mid-day trading on Thursday following a dissappointing earnings announcement. The stock traded as low as $7.29 and last traded at $7.29, with a volume of 160615 shares traded. The stock had previously closed at $7.43.

The company reported $0.15 earnings per share for the quarter, missing analysts’ consensus estimates of $0.19 by ($0.04). The business had revenue of $1.67 billion during the quarter, compared to analysts’ expectations of $1.67 billion. Coty had a net margin of 1.46% and a return on equity of 8.05%. The firm’s quarterly revenue was up 1.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.09 earnings per share.

Analyst Ratings Changes

A number of equities analysts have recently commented on COTY shares. Barclays lowered shares of Coty from an “equal weight” rating to an “underweight” rating and cut their price objective for the company from $8.00 to $7.00 in a research report on Thursday. Bank of America reduced their target price on Coty from $15.00 to $14.00 and set a “buy” rating for the company in a research report on Wednesday, July 10th. Canaccord Genuity Group reissued a “buy” rating and set a $14.00 price objective on shares of Coty in a report on Tuesday, October 15th. JPMorgan Chase & Co. dropped their target price on shares of Coty from $11.00 to $10.00 and set a “neutral” rating for the company in a research report on Tuesday, October 15th. Finally, Stifel Nicolaus decreased their price target on shares of Coty from $11.00 to $10.00 and set a “hold” rating on the stock in a report on Tuesday, October 15th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $12.09.

Hedge Funds Weigh In On Coty

A number of hedge funds and other institutional investors have recently made changes to their positions in COTY. M&G Plc boosted its position in Coty by 41.4% during the 2nd quarter. M&G Plc now owns 509,694 shares of the company’s stock valued at $5,097,000 after acquiring an additional 149,351 shares in the last quarter. Assenagon Asset Management S.A. raised its holdings in Coty by 733.0% in the second quarter. Assenagon Asset Management S.A. now owns 1,900,000 shares of the company’s stock worth $19,038,000 after purchasing an additional 1,671,897 shares in the last quarter. Compass Wealth Management LLC lifted its position in Coty by 12.6% during the third quarter. Compass Wealth Management LLC now owns 590,725 shares of the company’s stock valued at $5,547,000 after buying an additional 65,900 shares during the period. Renaissance Technologies LLC lifted its position in Coty by 40.2% during the second quarter. Renaissance Technologies LLC now owns 522,630 shares of the company’s stock valued at $5,237,000 after buying an additional 149,900 shares during the period. Finally, Savoir Faire Capital Management L.P. boosted its holdings in shares of Coty by 50.9% during the 2nd quarter. Savoir Faire Capital Management L.P. now owns 440,607 shares of the company’s stock valued at $4,415,000 after buying an additional 148,607 shares in the last quarter. Institutional investors own 42.36% of the company’s stock.

Coty Stock Performance

The company has a debt-to-equity ratio of 0.96, a quick ratio of 0.46 and a current ratio of 0.75. The business’s 50-day moving average is $8.66 and its 200-day moving average is $9.65. The company has a market capitalization of $6.20 billion, a PE ratio of 92.88, a PEG ratio of 1.09 and a beta of 1.91.

Coty Company Profile

Coty Inc, together with its subsidiaries, manufactures, markets, distributes, and sells beauty products worldwide. It operates through Prestige and Consumer Beauty segments. The company provides fragrance, color cosmetics, and skin and body care products. It offers Prestige segment products primarily through prestige retailers, including perfumeries, department stores, e-retailers, direct-to-consumer websites, and duty-free shops under the Burberry, Calvin Klein, Chloe, Davidoff, Escada, Gucci, Hugo Boss, Jil Sander, Joop!, Kylie Jenner, Lancaster, Marc Jacobs, Miu Miu, Orveda, philosophy, SKKN BY KIM, and Tiffany & Co brands.