These Analysts Revise Their Forecasts On Coty Following Q2 Results
Portfolio Pulse from Lisa Levin
Coty Inc. reported Q2 earnings with sales growth of 16% YoY to $1.35 billion, beating the consensus of $1.31 billion. However, adjusted EPS was $0.01, missing the analyst consensus of $0.02. Following the announcement, Citigroup, Wells Fargo, and Morgan Stanley revised their price targets on Coty. Coty shares fell 2.3% to close at $10.72 on Tuesday.
August 23, 2023 | 1:30 pm
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Coty's Q2 earnings report showed mixed results, with sales beating estimates but EPS missing. This led to a revision of price targets by several analysts and a 2.3% drop in share price.
Coty's Q2 earnings report showed a beat on sales but a miss on EPS. This mixed performance likely led to the revision of price targets by Citigroup, Wells Fargo, and Morgan Stanley. The negative reaction in the stock price suggests that investors were disappointed by the earnings miss, leading to a short-term negative impact on the stock.
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