According to The Fly, analysts at Bank of America have begun covering Coty (NYSE: COTY) shares in a research note distributed to clients and investors on Wednesday. The note was on the company’s earnings forecast for the coming year. Investing in the company was advised with a “buy” recommendation, and a price objective of $12.00 was established. The price target that Bank of America set for the stock indicates that the stock has the potential to increase by 58.10% relative to its most recent closing price. The topic of COTY has been the subject of commentary from a wide range of various stock analysts relatively recent times. In a report on the company on Friday, August 26th, StockNews.com decreased its recommendation for Coty from “buy” to “hold” in an account on the company. The research was on the firm. Raymond James lowered their “outperform” rating and price objective on shares of Coty from $11.00 to $0.00 and reported the news in a report that was made public on Monday, August 15th.
The research was made public here. Coty share coverage was first introduced in a statement published on the 30th of June, a Thursday. They assigned a “neutral” rating to the stock and projected that the share price would reach $8.00 within the next month. Wells Fargo & Company Stock noted in a report made public on Friday, August 26, 2018, that they have an “equal weight” rating on Coty and that they have lifted their price objective on the company from $7 to $8. The information was made public by Wells Fargo & Company. Last but not least, on Monday, the 29th of August, DA Davidson published a research report recommending that investors “buy” Coty stock and raise their price objective on the company from $10.25 to $10.50. The report was published the same day that they increased their price objective on the company. Six analysts think investors should buy the stock, while five think investors should hold on. According to Bloomberg, the company has been assigned an average recommendation of “Moderate Buy,” and the company’s stock is projected to reach a price of $10.50 shortly. Coty experienced a 52-week low of $5.90 and a 52-week high of $11.12 last year. The opening price of the NYSE COTY on Wednesday was $7.59.
The stock presently trades at a cost-to-earnings ratio of 94.89, with a beta value of 1.94, and is worth $6.37 billion on the market. A debt-to-equity ratio comes in at 1.32, a quick ratio that comes in at 0.40, a current ratio that comes in at 0.66, and a quick ratio that comes in at 0.40. A simple moving average of $7.60 has been calculated for the company over the past 50 days, and a simple moving average of $7.75 for the last 200 days. On August 25, a report on Coty’s most recent earnings was made public. Coty shares are traded on the New York Stock Exchange (NYSE) under the ticker code COTY. The consensus for the earnings per share of the company for the quarter was $0.001; thus, the company’s actual earnings for the quarter were also $0.001 per share. Coty had a return on equity of 8.41%, and the net margin for the company was 2.45%. The sales for the company came in at $1.17 billion for the quarter, which was much better than the experts’ projections for the company’s revenues, which were $1.15 billion for the quarter. When measured against the previous year’s results, the company’s earnings per share came in at a loss of $0.09 per share. Compared to the same period in the last year, the company’s quarterly sales saw a 9.9% increase in percentage growth.
Most financial analysts think Coty will end the current fiscal year with earnings of $0.31 per share, and the company’s past performance backs up this prediction. Recently, several hedge funds have taken action to modify how they are invested in COTY. Credit Agricole S.A. bought a new investment in Coty during the year’s second quarter, and the total value of that holding was $109,361,000. During the first three months of 2018, Clearbridge Investments LLC was able to amass an additional 123.3% of the ownership stake it had previously held in Coty. Following the acquisition of 9,311,527 new shares during the most recent fiscal quarter, Clearbridge Investments LLC now has 16,862,950 shares. The total value of the stock holdings owned by Clearbridge Investments LLC is $151,598,000. In addition, BlackRock Inc. boosted its shares in Coty by 20.0% during the first three months of 2018. BlackRock Inc. has increased its total number of shares in the company to 46,632,257 following the purchase of an additional 7,760,564 of those shares since the beginning of this quarter. The current market price of those shares is $419,223,000. The incredible growth in BNP Paribas Arbitrage SA’s Coty holdings during the second quarter can be attributed to the company’s recent performance.
BNPP Paribas Arbitrage SA bought 7,061,739 shares during the most recent fiscal quarter. This brings the total number of shares that they possess in the company to 7,121,465, with a value of $57,043,000. Last but not least, during the first three months of this year, Goldman Sachs Group Inc. boosted the percentage of the company’s holdings invested in Coty by 119.5%. Goldman Sachs Group Inc. now has 8,312,124 shares, valued at $74,726,000, after purchasing an additional 4,525,332 shares during the preceding quarter. This brings the total number of shares owned by the firm to 8,312,124. At present, institutional investors and hedge funds control a combined total of 37.45 percent of the company’s stock. Cosmetics are manufactured, marketed, distributed, and sold worldwide by Coty Inc. and its affiliate firms, who are also responsible for distributing these cosmetics. High-end retailers like perfumeries, department stores, e-merchants, and websites that appeal directly to consumers are the channels through which the company offers its prestige fragrances, skin care products, and color cosmetics. Other channels include luxury travel retailers. Alexander McQueen, Burberry, Bottega Veneta, Calvin Klein, Cavalli, Chloe, Davidoff, Escada, Gucci, Hugo Boss, Jil Sander, Joop!, Kylie Jenner, and ” are just some of the brand names that the corporation sells under.