Coty (NYSE:COTY) Reaches New 52-Week Low on Disappointing Earnings

Coty Inc. (NYSE:COTY)’s stock price reached a new 52-week low on Tuesday after the company announced weaker than expected quarterly earnings. The company traded as low as $6.50 and last traded at $6.47, with a volume of 788997 shares trading hands. The stock had previously closed at $6.77.

The company reported $0.11 earnings per share for the quarter, missing analysts’ consensus estimates of $0.22 by ($0.11). Coty had a return on equity of 9.16% and a net margin of 2.78%.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the company. TD Cowen cut Coty from a “buy” rating to a “hold” rating and reduced their price target for the stock from $11.00 to $8.50 in a research note on Wednesday, November 13th. Barclays cut their target price on Coty from $7.00 to $6.00 and set an “underweight” rating on the stock in a research note on Friday, January 17th. Canaccord Genuity Group reaffirmed a “buy” rating and issued a $14.00 price target on shares of Coty in a research report on Tuesday, October 15th. Stifel Nicolaus reduced their price objective on shares of Coty from $8.50 to $8.00 and set a “hold” rating for the company in a research note on Tuesday. Finally, DA Davidson reaffirmed a “buy” rating and issued a $12.50 price objective on shares of Coty in a research report on Thursday, February 6th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $11.12.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the stock. Amundi raised its stake in Coty by 1,990,624.9% during the 4th quarter. Amundi now owns 4,479,131 shares of the company’s stock worth $30,503,000 after acquiring an additional 4,478,906 shares during the period. Vaughan Nelson Investment Management L.P. boosted its holdings in Coty by 42.6% in the 3rd quarter. Vaughan Nelson Investment Management L.P. now owns 5,642,602 shares of the company’s stock worth $52,984,000 after buying an additional 1,687,045 shares during the period. Thrivent Financial for Lutherans increased its stake in Coty by 25.5% in the 4th quarter. Thrivent Financial for Lutherans now owns 8,096,912 shares of the company’s stock worth $56,354,000 after buying an additional 1,646,839 shares in the last quarter. Barclays PLC raised its holdings in Coty by 147.1% during the third quarter. Barclays PLC now owns 1,165,806 shares of the company’s stock valued at $10,947,000 after acquiring an additional 693,961 shares during the period. Finally, Victory Capital Management Inc. lifted its position in shares of Coty by 17.5% in the fourth quarter. Victory Capital Management Inc. now owns 3,134,276 shares of the company’s stock valued at $21,815,000 after acquiring an additional 466,772 shares in the last quarter. 42.36% of the stock is owned by hedge funds and other institutional investors.

Coty Stock Down 8.9 %

The company has a debt-to-equity ratio of 0.93, a current ratio of 0.85 and a quick ratio of 0.55. The company has a 50-day moving average price of $7.16 and a 200 day moving average price of $8.11. The firm has a market capitalization of $5.37 billion, a PE ratio of 36.29, a P/E/G ratio of 0.72 and a beta of 1.89.

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.