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Coty (COTY) Dips More Than Broader Markets: What You Should Know
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In the latest trading session, Coty (COTY - Free Report) closed at $11.45, marking a -1.8% move from the previous day. This move lagged the S&P 500's daily loss of 0.76%. Elsewhere, the Dow lost 0.52%, while the tech-heavy Nasdaq lost 1.15%.
Coming into today, shares of the beauty products company had lost 6.5% in the past month. In that same time, the Consumer Staples sector lost 1.99%, while the S&P 500 lost 1.4%.
Investors will be hoping for strength from Coty as it approaches its next earnings release, which is expected to be August 22, 2023. The company is expected to report EPS of $0.02, up 300% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $1.32 billion, up 13.41% from the year-ago period.
Investors might also notice recent changes to analyst estimates for Coty. These revisions typically reflect the latest short-term business trends, which can change frequently. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 1.65% higher. Coty is currently sporting a Zacks Rank of #3 (Hold).
In terms of valuation, Coty is currently trading at a Forward P/E ratio of 24.35. For comparison, its industry has an average Forward P/E of 31.74, which means Coty is trading at a discount to the group.
Also, we should mention that COTY has a PEG ratio of 1.29. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. Cosmetics stocks are, on average, holding a PEG ratio of 2.01 based on yesterday's closing prices.
The Cosmetics industry is part of the Consumer Staples sector. This group has a Zacks Industry Rank of 182, putting it in the bottom 28% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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Coty (COTY) Dips More Than Broader Markets: What You Should Know
In the latest trading session, Coty (COTY - Free Report) closed at $11.45, marking a -1.8% move from the previous day. This move lagged the S&P 500's daily loss of 0.76%. Elsewhere, the Dow lost 0.52%, while the tech-heavy Nasdaq lost 1.15%.
Coming into today, shares of the beauty products company had lost 6.5% in the past month. In that same time, the Consumer Staples sector lost 1.99%, while the S&P 500 lost 1.4%.
Investors will be hoping for strength from Coty as it approaches its next earnings release, which is expected to be August 22, 2023. The company is expected to report EPS of $0.02, up 300% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $1.32 billion, up 13.41% from the year-ago period.
Investors might also notice recent changes to analyst estimates for Coty. These revisions typically reflect the latest short-term business trends, which can change frequently. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 1.65% higher. Coty is currently sporting a Zacks Rank of #3 (Hold).
In terms of valuation, Coty is currently trading at a Forward P/E ratio of 24.35. For comparison, its industry has an average Forward P/E of 31.74, which means Coty is trading at a discount to the group.
Also, we should mention that COTY has a PEG ratio of 1.29. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. Cosmetics stocks are, on average, holding a PEG ratio of 2.01 based on yesterday's closing prices.
The Cosmetics industry is part of the Consumer Staples sector. This group has a Zacks Industry Rank of 182, putting it in the bottom 28% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.