Cosmetic Blemishes: Estée Lauder's Mixed Earnings And Oppenheimer Downgrade
Portfolio Pulse from AJ Fabino
Estée Lauder's Q3 earnings missed estimates, reporting 47 cents per share against a 51 cents estimate, while revenues slightly exceeded expectations at $3.751 billion. Oppenheimer downgraded the company to Perform from Outperform, citing challenges in the Asia travel retail sector and a lowered outlook for fiscal 2023.
June 05, 2023 | 7:51 pm
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NEGATIVE IMPACT
Estée Lauder's mixed Q3 results and Oppenheimer's downgrade to Perform from Outperform put pressure on the stock, with shares trading 3.52% lower.
Estée Lauder's Q3 earnings missed estimates, and Oppenheimer downgraded the stock due to challenges in the Asia travel retail sector and a lowered outlook for fiscal 2023. This negative news is likely to put short-term pressure on the stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100