Are Coty Inc (NYSE: COTY) Shares Ready For A Higher Price Run?

In the last trading session, 5.36 million shares of the Coty Inc (NYSE:COTY) were traded, and its beta was 1.83. Most recently the company’s share price was $11.69, and it changed around $0.41 or 3.63% from the last close, which brings the market valuation of the company to $10.46B. COTY currently trades at a discount to its 52-week high of $13.46, offering almost -15.14% off that amount. The share price’s 52-week low was $9.02, which indicates that the current value has risen by an impressive 22.84% since then. We note from Coty Inc’s average daily trading volume that its 3-month average coming to 4.04 million.

Coty Inc stock received a consensus recommendation rating of Hold, based on a mean score of 2.05. If we narrow it down even further, the data shows that 2 out of 17 analysts rate the stock as a Sell; another 2 rate it as Overweight. Among the rest, 10 recommended COTY as a Hold, whereas 3 deemed it a Buy, and 0 rated it as Underweight. Coty Inc is expected to report earnings per share of $0.06 for the current quarter.

Coty Inc (NYSE:COTY) trade information

Instantly COTY has showed a green trend with a performance of 3.63% at the end of last trading. The performance over the last five days has remained in the green territory. The company’s shares are currently down -5.88% year-to-date, but still up 7.94% over the last five days. On the other hand, Coty Inc (NYSE:COTY) is -0.76% down in the 30-day period.

The consensus price target as assigned by Wall Street analysts is $12.13, which translates to bulls needing to increase their stock price by 3.63% from its current value. Analyst projections state that COTY is forecast to be at a low of $9 and a high of $15.

Coty Inc (COTY) estimates and forecasts

Coty Inc share prices are performing particularly well not compared to other companies within the same industry. As is evident from the statistics, the company’s shares have risen 23.18 percent over the past six months and at a -15.09% annual growth rate that is well below the industry average of -6.80%. Moreover, analysts have decided to roll up on their fiscal year 2024 revenue estimates. The rating firms predict that it will loss -68.40% in revenue this quarter, and will report an increase of 300.00% in the next quarter. The year-over-year growth rate is expected to be 10.30%, up from the previous year.

Consensus estimates provided by 13 financial analysts predict the company will bring in an average of $1.37 billion in revenue for the current quarter. 13 analysts expect Coty Inc to make $1.39 billion in revenue for the quarter ending Jun 2024.

Coty Inc earnings are expected to increase by -15.85% in 2024, but the outlook is positive 18.30% per year for the next five years.