Coty falls after weak earnings forecast, withheld annual outlook
COTY•Analyst view and estimates
J.P. Morgan maintained a "neutral" rating on Coty, noting the quarter benefited from Amazon Prime Day shipment timing, with weaker sequential performance expected ahead.
"The appetite to invest in yet another plan is likely limited, especially as higher-quality beauty names like Estée Lauder EL.N or e.l.f. Beauty ELF.N both offer better outlooks in our view as the underlying beauty category recovers" - JPM.
Coty forecast first-quarter adjusted earnings per share of 11 cents to 13 cents, below analysts' estimates of 14 cents, according to data compiled by LSEG.
Eighteen analysts rate the stock "hold" on average; median PT is $2.8, according to data compiled by LSEG.
Up to last close, the stock had fallen 1.6% year to date.
Shares fall after weaker-than-expected forecast
Shares of CoverGirl owner Coty COTY.N fell 5.6% to $2.87 premarket after the company on Wednesday forecast current-quarter earnings below expectations and withheld its annual outlook.
Coty called fiscal 2027 a "transition year" as it pushes ahead with a business overhaul.
