Canaccord Genuity Group Lowers Estée Lauder Companies (NYSE:EL) Price Target to $62.00

Estée Lauder Companies (NYSE:EL) had its price objective lowered by Canaccord Genuity Group from $70.00 to $62.00 in a research note released on Tuesday,Benzinga reports. Canaccord Genuity Group currently has a hold rating on the stock.

Several other analysts have also issued reports on EL. Wells Fargo & Company cut their price objective on Estée Lauder Companies from $70.00 to $60.00 and set an “equal weight” rating for the company in a report on Wednesday, April 16th. Citigroup dropped their target price on Estée Lauder Companies from $77.00 to $55.00 and set a “neutral” rating on the stock in a research report on Monday, April 14th. Morgan Stanley reduced their price target on Estée Lauder Companies from $85.00 to $81.00 and set an “equal weight” rating for the company in a report on Thursday, February 6th. Telsey Advisory Group restated a “market perform” rating and issued a $76.00 price objective on shares of Estée Lauder Companies in a report on Thursday, April 24th. Finally, Stifel Nicolaus cut their price objective on shares of Estée Lauder Companies from $77.00 to $67.00 and set a “hold” rating on the stock in a research report on Thursday, April 10th. Nineteen research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $81.19.

Estée Lauder Companies Stock Up 0.7 %

EL stock opened at $59.54 on Tuesday. The company has a debt-to-equity ratio of 1.75, a current ratio of 1.37 and a quick ratio of 0.97. The firm has a market capitalization of $21.37 billion, a P/E ratio of -30.53, a P/E/G ratio of 6.09 and a beta of 1.10. Estée Lauder Companies has a 52-week low of $48.37 and a 52-week high of $148.71. The company’s 50 day simple moving average is $63.37 and its 200-day simple moving average is $71.36.

Estée Lauder Companies (NYSE:EL) last released its earnings results on Tuesday, February 4th. The company reported $0.62 earnings per share for the quarter, beating the consensus estimate of $0.32 by $0.30. The company had revenue of $4 billion for the quarter, compared to analysts’ expectations of $3.98 billion. Estée Lauder Companies had a positive return on equity of 16.82% and a negative net margin of 4.61%. The business’s revenue for the quarter was down 6.4% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.88 EPS. As a group, equities research analysts anticipate that Estée Lauder Companies will post 1.36 EPS for the current year.

Estée Lauder Companies Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Friday, February 28th were paid a dividend of $0.35 per share. The ex-dividend date of this dividend was Friday, February 28th. This represents a $1.40 annualized dividend and a yield of 2.35%. Estée Lauder Companies’s dividend payout ratio is -71.79%.

Insiders Place Their Bets

In other Estée Lauder Companies news, CFO Akhil Shrivastava acquired 700 shares of the company’s stock in a transaction dated Wednesday, February 5th. The stock was bought at an average price of $65.79 per share, for a total transaction of $46,053.00. Following the purchase, the chief financial officer now owns 2,381 shares in the company, valued at $156,645.99. This represents a 41.64 % increase in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Paul J. Fribourg bought 43,000 shares of the firm’s stock in a transaction dated Wednesday, February 5th. The shares were acquired at an average price of $66.35 per share, for a total transaction of $2,853,050.00. Following the completion of the transaction, the director now owns 430,800 shares in the company, valued at $28,583,580. This represents a 11.09 % increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 12.78% of the company’s stock.

Hedge Funds Weigh In On Estée Lauder Companies

Several hedge funds and other institutional investors have recently modified their holdings of EL. Envestnet Asset Management Inc. raised its stake in Estée Lauder Companies by 16.1% during the first quarter. Envestnet Asset Management Inc. now owns 140,295 shares of the company’s stock worth $9,259,000 after acquiring an additional 19,506 shares in the last quarter. Bank of New York Mellon Corp increased its position in shares of Estée Lauder Companies by 3.9% during the 1st quarter. Bank of New York Mellon Corp now owns 3,088,880 shares of the company’s stock worth $203,866,000 after purchasing an additional 117,330 shares in the last quarter. World Investment Advisors lifted its holdings in Estée Lauder Companies by 37.4% during the 1st quarter. World Investment Advisors now owns 21,312 shares of the company’s stock valued at $1,407,000 after purchasing an additional 5,800 shares during the last quarter. IFM Investors Pty Ltd boosted its position in Estée Lauder Companies by 7.4% in the first quarter. IFM Investors Pty Ltd now owns 44,105 shares of the company’s stock valued at $2,911,000 after buying an additional 3,026 shares in the last quarter. Finally, Calamos Advisors LLC grew its stake in Estée Lauder Companies by 0.6% during the first quarter. Calamos Advisors LLC now owns 104,128 shares of the company’s stock worth $6,872,000 after buying an additional 633 shares during the last quarter. Institutional investors own 55.15% of the company’s stock.

Estée Lauder Companies Company Profile

The Estée Lauder Companies Inc manufactures, markets, and sells skin care, makeup, fragrance, and hair care products worldwide. It offers skin care products, including moisturizers, serums, cleansers, toners, body care, exfoliators, acne care and oil correctors, facial masks, and sun care products; and makeup products, such as lipsticks, lip glosses, mascaras, foundations, eyeshadows, and powders, as well as compacts, brushes, and other makeup tools.