Coty, Inc. (COTY) Updates on P&G Beauty Brands Deal; Boosts Cost Savings Outlook
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Piper Jaffray Cuts Price Target on Coty, Inc. (COTY) Following 3Q
May 4, 2016 8:58 AM EDTPiper Jaffray maintained a Neutral rating on Coty Inc. (NYSE: COTY), and cut the price target to $29.00 (from $30.00), following the company's 3Q. COTY management provided a thorough review of the logic, synergies, and profit targets expected from the P&G Beauty merger.
Analyst Stephanie Wissink commented, "Our thesis... More
Coty, Inc. (COTY) Misses Q3 EPS by 3c
May 3, 2016 7:05 AM EDTCoty, Inc. (NYSE: COTY) reported Q3 EPS of $0.09, $0.03 worse than the analyst estimate of $0.12. Revenue for the quarter came in at $950.7 million versus the consensus estimate of $970.73 million.
"Q3 revenues were consistent with our expectations for muted like-for-like trends through the end of the fiscal year, as we gradually rationalize non-strategic product lines and businesses. Power brands on the other hand continued to outperform the overall business both for the quarter and fiscal year-to-date. While Q3 adjusted operating income was down due to one-off items and fiscal year-to-date adjusted operating income is... More
