The average price target for Coty Inc. (NYSE:COTY) has seen a notable shift over the past year, indicating changing analyst expectations.
Recent earnings reports have fallen short of expectations, with a profit of $0.11 per share missing the Zacks Consensus Estimate of $0.22 per share.
Despite a decrease in the average price target from $10.44 a year ago to $5.00 last month, analyst Christopher Carey from Wells Fargo has set a more optimistic price target of $11, highlighting the potential impact of international revenue trends.
Coty Inc. (NYSE:COTY) is a global beauty company known for its wide range of cosmetics, skincare, and fragrance products. The company operates in a competitive industry with major players like L’Oréal and Estée Lauder. Over the past year, Coty has experienced a notable shift in its consensus price target, reflecting changing analyst expectations.
Last month, the average price target for Coty was $5.00, indicating a cautious short-term outlook from analysts. This sentiment aligns with Coty’s recent earnings report, which fell short of expectations. The company reported a profit of $0.11 per share, missing the Zacks Consensus Estimate of $0.22 per share, as highlighted by Zacks.
Three months ago, the average price target was slightly higher at $5.83, suggesting more optimism at that time. However, Coty’s second-quarter earnings report revealed a decline in earnings per share compared to the previous year, from $0.25 to $0.11. This decline may have contributed to the more conservative outlook from analysts.
A year ago, the average price target was significantly higher at $10.44. The substantial decrease over the year suggests analysts have become more conservative in their expectations for Coty’s stock performance. This shift may be influenced by Coty’s revised annual profit forecast, which was lowered after missing second-quarter revenue estimates, as reported by Reuters.
Analyst Christopher Carey from Wells Fargo has set a price target of $11 for Coty, reflecting the potential impact of international revenue trends on the stock’s future performance. As Coty navigates these developments, investors are closely watching how the company’s international operations will shape its prospects.
