The upcoming report from Coty (COTY) is expected to reveal quarterly earnings of $0.01 per share, indicating an increase of 133.3% compared to the year-ago period. Analysts forecast revenues of $1.2 billion, representing a decline of 11.7% year over year.
Over the last 30 days, there has been an upward revision of 8.6% in the consensus EPS estimate for the quarter, leading to its current level. This signifies the covering analysts' collective reconsideration of their initial forecasts over the course of this timeframe.
Before a company reveals its earnings, it is vital to take into account any changes in earnings projections. These revisions play a pivotal role in predicting the possible reactions of investors toward the stock. Multiple empirical studies have consistently shown a strong association between trends in earnings estimates and the short-term price movements of a stock.
While it's common for investors to rely on consensus earnings and revenue estimates for assessing how the business may have performed during the quarter, exploring analysts' forecasts for key metrics can yield valuable insights.
In light of this perspective, let's dive into the average estimates of certain Coty metrics that are commonly tracked and forecasted by Wall Street analysts.
Analysts predict that the 'Net Revenues- Prestige' will reach $721.85 million. The estimate suggests a change of -10.1% year over year.
The collective assessment of analysts points to an estimated 'Net Revenues- Consumer Beauty' of $477.45 million. The estimate indicates a year-over-year change of -14.8%.
The consensus estimate for 'Adjusted Operating Income (Loss)- Prestige' stands at $76.95 million. Compared to the present estimate, the company reported $87.80 million in the same quarter last year.
The average prediction of analysts places 'Adjusted Operating Income (Loss)- Consumer Beauty' at -$1.36 million. Compared to the current estimate, the company reported $20.20 million in the same quarter of the previous year.
View all Key Company Metrics for Coty here>>>
Coty shares have witnessed a change of +1% in the past month, in contrast to the Zacks S&P 500 composite's +3.3% move. With a Zacks Rank #3 (Hold), COTY is expected closely follow the overall market performance in the near term. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>> .
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Coty (COTY): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
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