FINWIRES · TerminalLIVE
FINWIRES

Coty Showing Initial Turnaround Signs, RBC Says

By

Coty (COTY) is showing initial signs of a turnaround despite the Middle East impact on its Q3 results, RBC Capital Markets said in a note Thursday.

The note said Q3 results missed like-for-like sales expectations while beating profitability consensus. It added that like-for-like growth would have exceeded expectations excluding the 1.4% headwind due to conflict in the Middle East.

The report pointed to positives such as its Sell Out focus that is starting to bear fruit in consumer beauty. It said one main pillar of Coty.Curated is the shift toward a sell-out oriented culture.

While there is significant work to be done, its prestige fragrance remains one of the fastest growing beauty categories, it said.

"Considering that current valuation is similar to 2020 levels when the company was in financial distress, we believe that shares are undervalued," the report said.

RBC kept its $8 price target and outperform rating for Coty.

Price: $2.50, Change: $-0.15, Percent Change: -5.66%

Related Articles

Wire

Fastly Swings to Q1 Adjusted Earnings as Revenue Rises; Shares Tumble After Hours

Fastly (FSLY) reported Q1 adjusted earnings late Wednesday of $0.13 per diluted share, compared with the loss of $0.05 a year earlier.Analysts polled by FactSet expected earnings of $0.08.Revenue in the three months ended March 31 rose to $173 million from $144.5 million a year earlier.Analysts surveyed by FactSet expected $171.8 million.Fastly expects Q2 non-GAAP net income of $0.05 to $0.08 a share on revenue of $170 million to $176 million. Analysts polled by FactSet project EPS of $0.04 on revenue of $169.8 million.The company expects full-year non-GAAP net income of $0.27 to $0.33 a share on revenue of $710 million to $725 million. Analysts project EPS of $0.27 on revenue of $712 million.Fastly shares tumbled 28% in after-hours trading.

$FSLY
Wire

Tutor Perini Q1 Adjusted Earnings, Revenue Rise; Shares Fall After Hours

Tutor Perini (TPC) reported Q1 adjusted earnings late Wednesday of $1.03 per diluted share, up from $0.65 a year earlier.Four analysts polled by FactSet expected $0.95.Revenue in the three months ended March 31 rose to $1.39 billion from $1.25 billion a year earlier.Four analysts surveyed by FactSet expected $1.44 billion.The company affirmed its full-year adjusted EPS guidance of $4.90 to $5.30. Analysts expect $5.Tutor Perini shares fell 6.6% in after-hours trading.

$TPC
Wire

Murphy Oil Q1 Adjusted Earnings Fall, Revenue Rises

Murphy Oil (MUR) reported Q1 adjusted earnings late Wednesday of $0.32 per diluted share, down from $0.56 a year earlier.Analysts polled by FactSet expected $0.32.Revenue in the three months ended March 31 rose to $733.6 million from $665.2 million a year earlier.Analysts surveyed by FactSet expected $703 million.Murphy shares fell 2.3% in after-hours trading.

$MUR