These Analysts Slash Their Forecasts On Estée Lauder After Q1 Results
Portfolio Pulse from Lisa Levin
Estée Lauder Companies Inc. (NYSE:EL) reported Q1 FY24 sales decline of 10% YoY to $3.518 billion, missing the analyst consensus estimate of $3.529 billion. Adjusted EPS of $0.11 beat the consensus estimate of $(0.20). The company also revised its FY24 adjusted EPS to $2.17-$2.42 from $3.50 - $3.75 and expects FY24 sales to decline by 2% or increase by 1%. Following the earnings announcement, several analysts including RBC Capital, Telsey Advisory Group, Goldman Sachs, and Morgan Stanley lowered their price targets on Estee Lauder.
November 02, 2023 | 5:12 pm
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Estée Lauder reported a decline in Q1 FY24 sales and revised its FY24 forecasts. Following the announcement, several analysts lowered their price targets on the company.
Estée Lauder's Q1 sales missed estimates and the company revised its FY24 forecasts downwards. This led to several analysts lowering their price targets on the company, which could negatively impact the stock price in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100