Coty (NYSE:COTY) Reaches New 1-Year Low Following Weak Earnings

Coty Inc. (NYSE:COTY) shares hit a new 52-week low during trading on Thursday after the company announced weaker than expected quarterly earnings. The company 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 analysts’ consensus estimates of $0.19 by ($0.04). The company had revenue of $1.67 billion for the quarter, compared to analyst estimates of $1.67 billion. Coty had a return on equity of 8.05% and a net margin of 1.46%. Coty’s revenue for the quarter was up 1.8% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.09 earnings per share.

Analysts Set New Price Targets

Several equities analysts have issued reports on COTY shares. Jefferies Financial Group decreased their price target on shares of Coty from $12.00 to $11.00 and set a “buy” rating for the company in a research report on Wednesday, October 16th. Evercore ISI restated an “outperform” rating and issued a $15.00 price target on shares of Coty in a research report on Wednesday, August 21st. DA Davidson decreased their price target on shares of Coty from $17.00 to $14.50 and set a “buy” rating for the company in a research report on Wednesday, October 16th. Raymond James decreased their price target on shares of Coty from $13.00 to $11.00 and set an “outperform” rating for the company in a research report on Friday. Finally, JPMorgan Chase & Co. decreased their price target 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. One analyst has rated the stock with a sell rating, five have given a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $11.97.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. M&G Plc lifted its stake in shares of Coty by 41.4% in the second quarter. M&G Plc now owns 509,694 shares of the company’s stock valued at $5,097,000 after buying an additional 149,351 shares in the last quarter. Assenagon Asset Management S.A. lifted its position in shares of Coty by 733.0% during 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 in the last quarter. Compass Wealth Management LLC lifted its position in shares of 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 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 second quarter. Renaissance Technologies LLC now owns 522,630 shares of the company’s stock valued at $5,237,000 after purchasing an additional 149,900 shares in the last quarter. Finally, Savoir Faire Capital Management L.P. lifted its position in shares of Coty by 50.9% during the second quarter. Savoir Faire Capital Management L.P. now owns 440,607 shares of the company’s stock valued at $4,415,000 after purchasing an additional 148,607 shares in the last quarter. 42.36% of the stock is owned by institutional investors.

Coty Price Performance

The company has a quick ratio of 0.46, a current ratio of 0.75 and a debt-to-equity ratio of 0.96. The business’s 50-day moving average is $8.57 and its two-hundred day moving average is $9.60. The company has a market capitalization of $6.22 billion, a P/E ratio of 42.15, a price-to-earnings-growth 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.