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MARKETS LIVE BLOG:

STOCKS RETREAT FROM RECORD AS CHIPMAKERS LEAD LOSSES

Boeing edges up as company moves to issue new shares and raise up to US$25 billion

Surging Earnings Estimates Signal Good News for Coty Inc. (COTY)

Zacks Equity Research


Coty Inc. (COTY), involved in the manufacturing, marketing and distribution of beauty products, is a company that could be an interesting play for investors. That is because, not only does the stock have decent short-term momentum, but it is seeing solid activity on the earnings estimate revision front as well.

These positive earnings estimate revisions suggest that analysts are becoming more optimistic on COTY’s earnings for the coming quarter and year. In fact, consensus estimates have moved sharply higher for both of these time frames over the past four weeks, suggesting that Coty Inc. could be a solid choice for investors.

Current Quarter Estimates for COTY

In the past 30 days, 1 estimate has gone higher for Coty Inc. with no downward revision in the same time period. The trend has been pretty favorable too, with estimates increasing from 6 cents per share 30 days ago, to 10 cents a share today, a move of 66.7%.

Current Year Estimates for COTY

Meanwhile, Coty Inc.’s current year figures have seen 1 estimate moving higher in the past month, compared to no downward revision. The consensus estimate trend has also seen a boost for this time frame, increasing from 63 cents per share 30 days ago to 78 cents per share today, an increase of 23.8%.

Bottom Line

The stock has also started to move higher lately, adding 6.6% over the past four weeks, suggesting that investors are starting to take note of this impressive story. So investors may definitely want to consider this Zacks Rank #2 (Buy) stock to profit in the near future.

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COTY INC (COTY): Free Stock Analysis Report


Zacks Investment Research