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COTY

Coty

$7.06

-0.37 (-4.98%)

06:41
02/08/19
02/08
06:41
02/08/19
06:41

Coty CEO says 'confident' in returning to 'path of sustainable growth'

Commenting on the financial results, Pierre Laubies, Coty CEO said: "Since I joined the company a few months ago, I have been thoroughly evaluating each part of our business, working to assess what has and has not worked, and where the opportunities lie. Within Coty, there are clear opportunities to improve how we run our company in order to enhance the quality of our business model, thereby giving us the time that we need to address our more strategic issues. I must stress that while we are confident that we can return Coty to a path of sustainable growth, we are also realistic that it will take time to achieve this outcome. Our Luxury and Professional Beauty divisions are growing reasonably well, but they cannot compensate completely for the difficult trajectory of our Consumer Beauty division. In Consumer Beauty, we need to earn our right to grow. From a financial standpoint, gross margin improvement will become our key area of focus. Gross margin is the lifeblood of the business and we recognize that we must close the gap we have here versus our beauty peers. That means managing revenue and costs, improving product mix and range, simplifying our portfolio and formulations, and systemically deploying lean-inspired methodologies in our manufacturing and logistics operations. While we will deploy these principles whenever possible in the remainder of FY19, our immediate objective is to finalize a Strategic Plan, which will define our agenda for the medium term. I look forward to sharing more details on this plan in the coming months. I have a great deal of confidence that the management team we have put into place is the right one to develop this plan, and that together with the broader Coty organization, we will be able to meet the objectives of driving gross margin improvement and sustained topline growth."

  • 08

    Feb

  • 03

    Mar

COTY Coty
$7.06

-0.37 (-4.98%)

11/08/18
RBCM
11/08/18
NO CHANGE
Target $18
RBCM
Outperform
Coty price target lowered to $18 from $23 at RBC Capital
RBC Capital analyst Nik Modi lowered his price target on Coty to $18 after its lower than expected sales in Q1. The analyst notes that the market expectations for the company were already low after the management disclosed supply chain disruptions last weakness, adding that investors were further disappointed by "consumer beauty weakness and high leverage". Modi keeps his Outperform rating on Coty but believes that the stock is now more of a "2019 story", anticipating its top line to gradually improve and margins to expand on productivity efforts and synergies from the P&G acquisition.
11/15/18
BMOC
11/15/18
UPGRADE
Target $12
BMOC
Outperform
Coty upgraded to Outperform from Market Perform at BMO Capital
BMO Capital analyst Shannon Coyne upgraded Coty to Outperform from Market Perform and kept her price target at $12. The analyst says that her downgrade in August was driven by concerns around the company's supply chain issues, but believes that these factors have now been fully priced in after the management withdrew its guidance and consensus earnings have been pulled back by about 30%. With a 30% decline in the stock price over the past 10 weeks, Coyne states that the risk-reward on shares of Coty is now "compelling".
11/15/18
11/15/18
UPGRADE

On The Fly: Top five analyst upgrades
Catch up on today's top five analyst upgrades with this list compiled by The Fly: 1. Mylan (MYL) upgraded to Buy from Hold at Argus with analyst Jasper Hellweg saying the stock appears to be close to an inflection after several quarters of underperformance. 2. CopyTele (COPY) upgraded to Outperform from Market Perform at BMO Capital. 3. Voyager Therapeutics (VYGR) upgraded to Strong Buy from Outperform at Raymond James. 4. Athenex (ATNX) upgraded to Overweight from Neutral at JPMorgan with analyst Leon Chik saying more clinical data and progress in new drug trials should boost investor sentiment in 2019. 5. Coty (COTY) upgraded to Outperform from Market Perform at BMO Capital with analyst Shannon Coyne saying that her downgrade in August was driven by concerns around the company's supply chain issues, but believes that these factors have now been fully priced in after the management withdrew its guidance and consensus earnings have been pulled back by about 30%. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
01/04/19
JPMS
01/04/19
UPGRADE
Target $7
JPMS
Neutral
Coty upgraded to Neutral from Underweight at JPMorgan
JPMorgan analyst Andrea Teixeira upgraded Coty to Neutral with a $7 price target. The analyst's sum-of-the-parts analysis indicates Coty's valuation is "flushed out" at current levels. Teixeira, however, still sees potential downside to consensus estimates.

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