Canaccord Genuity Group Cuts Estée Lauder Companies (NYSE:EL) Price Target to $75.00

Estée Lauder Companies (NYSE:EL) had its price objective reduced by Canaccord Genuity Group from $100.00 to $75.00 in a report issued on Friday morning, Benzinga reports. They currently have a hold rating on the stock.

A number of other equities analysts have also recently weighed in on EL. Piper Sandler increased their price target on Estée Lauder Companies from $114.00 to $122.00 and gave the stock an “overweight” rating in a report on Monday, September 30th. HSBC lowered shares of Estée Lauder Companies from a “buy” rating to a “hold” rating and set a $100.00 target price for the company. in a research note on Wednesday, October 16th. DA Davidson restated a “buy” rating and issued a $130.00 price objective on shares of Estée Lauder Companies in a report on Tuesday, October 29th. Royal Bank of Canada reiterated an “outperform” rating and issued a $131.00 target price on shares of Estée Lauder Companies in a report on Tuesday, August 20th. Finally, Citigroup cut Estée Lauder Companies from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $105.00 to $80.00 in a research note on Thursday. Nineteen equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, Estée Lauder Companies has a consensus rating of “Hold” and an average target price of $103.52.

Estée Lauder Companies Price Performance

Estée Lauder Companies stock opened at $66.58 on Friday. The company has a current ratio of 1.32, a quick ratio of 1.01 and a debt-to-equity ratio of 1.44. The company has a 50-day moving average price of $90.09 and a 200 day moving average price of $105.98. Estée Lauder Companies has a 12-month low of $63.36 and a 12-month high of $159.75. The stock has a market cap of $23.88 billion, a P/E ratio of 118.89, a PEG ratio of 1.21 and a beta of 1.05.

Estée Lauder Companies (NYSE:EL) last announced its quarterly earnings results on Thursday, October 31st. The company reported $0.14 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.09 by $0.05. Estée Lauder Companies had a net margin of 1.31% and a return on equity of 17.31%. The business had revenue of $3.36 billion during the quarter, compared to the consensus estimate of $3.37 billion. During the same quarter last year, the firm earned $0.11 EPS. The business’s revenue was down 4.5% compared to the same quarter last year. Sell-side analysts anticipate that Estée Lauder Companies will post 2.95 earnings per share for the current year.

Estée Lauder Companies Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Friday, November 29th will be issued a $0.35 dividend. The ex-dividend date of this dividend is Friday, November 29th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 2.10%. Estée Lauder Companies’s payout ratio is 471.43%.

Insider Buying and Selling

In other Estée Lauder Companies news, Director Charlene Barshefsky sold 3,437 shares of Estée Lauder Companies stock in a transaction dated Tuesday, August 27th. The stock was sold at an average price of $91.93, for a total transaction of $315,963.41. Following the completion of the sale, the director now directly owns 49,800 shares of the company’s stock, valued at $4,578,114. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related news, Director Lynn Forester sold 3,890 shares of the stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $93.61, for a total value of $364,142.90. Following the transaction, the director now directly owns 15,209 shares of the company’s stock, valued at $1,423,714.49. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Charlene Barshefsky sold 3,437 shares of the business’s stock in a transaction on Tuesday, August 27th. The shares were sold at an average price of $91.93, for a total transaction of $315,963.41. Following the completion of the sale, the director now directly owns 49,800 shares of the company’s stock, valued at approximately $4,578,114. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 12.78% of the company’s stock.

Institutional Trading of Estée Lauder Companies

Hedge funds and other institutional investors have recently made changes to their positions in the company. Marshall Wace LLP increased its holdings in shares of Estée Lauder Companies by 3,065.6% in the 2nd quarter. Marshall Wace LLP now owns 1,983,083 shares of the company’s stock valued at $211,000,000 after acquiring an additional 1,920,439 shares during the period. Jennison Associates LLC acquired a new position in Estée Lauder Companies in the first quarter valued at $291,171,000. Vanguard Group Inc. raised its holdings in shares of Estée Lauder Companies by 6.4% in the first quarter. Vanguard Group Inc. now owns 20,686,550 shares of the company’s stock valued at $3,188,832,000 after buying an additional 1,250,555 shares during the last quarter. Van ECK Associates Corp boosted its stake in shares of Estée Lauder Companies by 36.4% during the third quarter. Van ECK Associates Corp now owns 4,041,911 shares of the company’s stock worth $402,938,000 after buying an additional 1,078,926 shares during the period. Finally, Independent Franchise Partners LLP grew its holdings in shares of Estée Lauder Companies by 44.4% during the second quarter. Independent Franchise Partners LLP now owns 3,466,048 shares of the company’s stock worth $368,788,000 after buying an additional 1,066,320 shares during the last quarter. Institutional investors and hedge funds 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.