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

Coty Inc. (NYSE:COTY)’s share price reached a new 52-week low on Thursday after the company announced weaker than expected quarterly earnings. The stock traded as low as $7.29 and last traded at $7.29, with a volume of 160615 shares trading hands. The stock had previously closed at $7.43.

The company reported $0.15 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.19 by ($0.04). The company had revenue of $1.67 billion for 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 business’s revenue for the quarter was up 1.8% on a year-over-year basis. During the same period in the previous year, the business earned $0.09 earnings per share.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the company. Barclays downgraded Coty from an “equal weight” rating to an “underweight” rating and decreased their target price for the company from $8.00 to $7.00 in a research report on Thursday. DA Davidson decreased their price objective on Coty from $17.00 to $14.50 and set a “buy” rating on the stock in a report on Wednesday, October 16th. Stifel Nicolaus reduced their target price on shares of Coty from $11.00 to $10.00 and set a “hold” rating for the company in a research report on Tuesday, October 15th. Evercore ISI reissued an “outperform” rating and issued a $15.00 price target on shares of Coty in a research note on Wednesday, August 21st. Finally, Jefferies Financial Group cut their price objective on shares of Coty from $12.00 to $11.00 and set a “buy” rating for the company in a report on Wednesday, October 16th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat, Coty has a consensus rating of “Moderate Buy” and an average price target of $12.09.

Institutional Investors Weigh In On Coty

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

Coty Price Performance

The stock’s 50-day moving average is $8.62 and its 200 day moving average is $9.63. 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 stock has a market capitalization of $6.30 billion, a PE ratio of 90.69, a P/E/G ratio of 1.09 and a beta of 1.91.

About Coty

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.