These Analysts Cut Their Forecasts On Coty After Downbeat Earnings

Core Insights - Coty Inc. reported weaker-than-expected earnings for its second quarter, with earnings of 11 cents per share, missing the analyst consensus estimate of 21 cents per share, and quarterly sales of $1.67 billion, below the expected$1.72 billion [1][2] Company Performance - CEO Sue Nabi indicated that FY25 is expected to be pivotal for Coty, noting that the global beauty market continues to grow, albeit at a moderated pace compared to previous years. Fragrances, which account for over 60% of Coty's revenues, are outperforming other beauty categories [2] - Following the earnings announcement, Coty's shares fell by 5.5%, trading at $5.79 [2] Analyst Reactions - Analysts adjusted their price targets for Coty after the earnings report, with Morgan Stanley lowering its target from$9 to $7, Canaccord Genuity from$10 to $8, Evercore ISI Group from$15 to $10, and Goldman Sachs from$9 to $8 [3][4]