Coty stock looks attractive here

    Beauty products and fragrance Coty, Inc. (NYSE: COTY) stock has suffered from the decline in the benchmark indices price by more than (-30%) for the year. The company is the leading fragrance maker with high-end brands such as Hugo Boss, Burberry, Mark Jacobs and Gucci in its portfolio. It also owns the iconic Cover Girl brand. The pandemic Lockdowns and the work-from-home trend boosted demand for makeup and fragrances, but bolstered skincare products. As the reopening continues and people once interacting socially and professionally against each other, demand is recovering. The company continued to see growth in its third quarter 2022 results with revenue growth of 15.4% and an increase in earnings per share for the year. trip retailthe US and Europe delivered strong sales momentum, with both the prestige and consumer beauty segments leading with sold-out performances. E-commerce revenue growth was in double digits and the company continues to expand its presence on social media platforms. Its products remain the fastest growing leading prestigious company in China despite the flat market background. Fragrances are a market wind in the face of inflationary and supply chain pressure headwind† Cautious investors looking for capital gains in the cosmetics and perfume market can look to opportunistic pullbacks in Coty’s stock to build a position. – MarketBeat

    Q3 Release 2021 Tax Revenue

    On May 9, 2022, Coty announced its fiscal results for the third quarter of 2021 for the quarter ended March 2022. The company reported adjusted earnings per share (EPS) of $0.03 excluding one-time items versus consensus analyst estimates for a profit of $0.01, better than estimates by $0.02. Revenues grew 15.4% year-over-year (YOY) to $1.19 billion, better than analysts’ estimates of $1.15 billion. Sales momentum was strongly fueled by both the US and Europe, and travel retail. Coty CEO Sue Nabi commented: “Our third quarter results mark the seventh straight quarter in which Coty reports results that exceed expectations. I am extremely proud of the organization for delivering these results and outperforming the overall beauty market, in an increasingly volatile environment, confirming that Coty has the brands and the people to win in the beauty market, guided by our strategic priorities of delivering above-market sales growth and increasing gross margin, enabling brand reinvestment, expanding profits and ongoing debt reduction.”

    Increased Guidance

    Coty raised its full-year 2022 taxable profit forecast to $0.23 to $0.27, compared to analyst estimates of $0.01, including $0.01 in net discrete tax benefits.

    Takeaway for conference calls

    CEO Sue Nabi gave color to the performance. Strength was found in the Consumer Beauty segment as it continued to gain global market share for the 5e consecutive month. The repositioning of Adidas is on track for late summer 2022. Prestige Brands cosmetics continue to deliver great results with brands such as Gucci Beauty, Burberry and Kylie. The skincare footprint continues to improve as Lancaster does well in China, with the iconic 365 Serum becoming the hero SKU in its portfolio. The CoverGirl brand enters the skin care market for the first time. The premiumization of its Prestige and Consumer Beauty continues with price increases to protect margins, retain talent and maintain supply chain flexibility.
    Coty stock looks attractive here

    COTY Opportunistic Withdrawal Levels

    Using the gun cards on the weekly and daily timeframes provides an accurate picture of the landscape for COTY stocks. Weekly Gun Chart Highs Near $11.08 Fibonacci (fib) level† COTY caused a post-peak collapse as it broke through the weekly 50-period moving average (MA) at $8.72 and the weekly 200-period MA at $8.67 toward its weekly lower Bollinger Bands (BBs) at $6.03. The weekly 5-period declining MA is at $7.04, followed by the 15-period MA at $8.13. The weekly stochastic fell below the 20 band but has stalled for a cross back up or mini inverse pup back down. the weekly market structure layer (MSL) buy triggers above $7.36. The daily gun chart has a breakout as the 5-period MA at $6.44 crossed through the 15-period MA at $6.40 and the stochastic has a mini pup through the 30 band. The 50-period daily MA is at $7.86 fib and daily upper BBs at $8.31 with the 200-period daily MA at $8.73. Cautious investors can look for opportunistic pullback levels at the $6.47, $6.19 fib, $5.87 fib, $5.57, $5.26 fib, $4.90 fib and the fib-level. level of $4.64. Upward trajectories range from the $8.20 level to the $11.08 fib level.

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