|Bid||10.04 x 1800|
|Ask||0.00 x 3200|
|Day's Range||10.02 - 10.51|
|52 Week Range||8.61 - 14.14|
|Beta (5Y Monthly)||0.55|
|PE Ratio (TTM)||N/A|
|Earnings Date||May 05, 2020 - May 10, 2020|
|Forward Dividend & Yield||0.50 (4.67%)|
|Ex-Dividend Date||Feb 13, 2020|
|1y Target Est||12.92|
(Bloomberg) -- Coty Inc. has kicked off the sale of its professional hair and nail products business, drawing interest from some of the world’s largest buyout firms for a unit that could fetch as much as $8 billion, according to people with knowledge of the matter.Buyout firms including Advent International, Bain Capital and Cinven are working with advisers to prepare bids, the people said, asking not to be identified because the discussions are private. Clayton Dubilier & Rice LLC and KKR & Co. are also expected to make first-round bids, which are due the first week of March, the people said.Henkel AG, a German maker of adhesives and shampoos, has hired advisers as it explores a bid for the business, which could fetch $7 billion to $8 billion, the people said. Other strategic bidders including Unilever Plc are weighing offers for parts of the unit, the people said. No final decisions have been made and the talks about a sale remain in the early stages, the people said.The sale is expected to be one of the most hotly contested auctions involving buyout firms this year because they have record levels of capital to spend and access to cheap financing. In a transaction last year that drew a similar buyer universe, EQT beat out stiff competition to acquire Nestle SA’s skincare business for more than $10 billion.Coty is weighing the sale of the unit, which owns brands including Wella, as part of a plan by Chief Executive Officer Pierre Laubies to turn around the wider business by boosting margins and reducing leverage. The New York-based firm took a $965 million writedown last year on the value of brands, including Clairol, that it agreed to purchase from Procter & Gamble Co. in 2015. Coty’s shares have fallen about 48% in the last five years.Coty has launched a process to explore strategic alternatives for the unit and aims to complete the review by the summer, it said, referring back to an October announcement. Representatives for Henkel, Unilever and the buyout firms declined to comment.Coty’s advisers are offering cash-paid leverage of about 6.5 times to help buyout firms finance the acquisition, one of the people said. The businesses for sale have earnings before interest, taxes, depreciation and amortization of about $450 million, and that number could rise to well over $500 million after including the gains from the carve-out and cost cuts, the person said.Staple financing is a pre-agreed debt package provided by banks chosen by the vendor to all competing bidders during an M&A sale process. The debt financing that was raised for EQT’s buyout of Nestle skincare was levered at 7.2 times total debt to core earnings. Prior to that, banks provided staple financing for the auction of Unilever’s spreads division that was levered at 5.25 times, while the final debt package used by KKR for the buyout was 6.2 times the total.Coty is selling brands including Clairol, Good Hair Day and OPI nail care as well as its business in Brazil. Cosmetics company Boticario Group is considering a bid to boost its haircare business, CEO Artur Grynbaum told Valor newspaper earlier this month.Some of the biggest beauty companies have been on an acquisition spree in recent years as they seek to court younger shoppers with upstart brands. Coty itself agreed to pay $600 million in cash for a majority stake in Kylie Jenner’s cosmetics line last year.(Adds details on Brazil sale in second-to-last paragraph)\--With assistance from Jan-Henrik Förster, Myriam Balezou, Sally Bakewell, Thomas Buckley, Oliver Sachgau, Sarah Husband, Michael Hytha and Ruth McGavin.To contact the reporters on this story: Dinesh Nair in London at email@example.com;Aaron Kirchfeld in London at firstname.lastname@example.orgTo contact the editors responsible for this story: Aaron Kirchfeld at email@example.com, Neil CallananFor more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
Solid brand performances, innovations and strong consumer demand are aiding Coty's (COTY) Luxury business. However, challenges in the Consumer Beauty unit persist.
The number of coronavirus deaths and cases in China continues to rise. There are at least 490 deaths and 24,324 cases of coronavirus in China, according to the latest figures from China’s National Health Commission.
Coty Inc. -- the makeup and perfume company -- is up sharply Tuesday on the heels of its second-quarter earnings that beat earnings per share and revenue estimates. In this daily bar chart of COTY, below, we can see Tuesday's gap up and over the declining 50-day moving average line and the bottoming 200-day moving average line. Trading volume is not up significantly and the daily On-Balance-Volume (OBV) has been neutral since July.
STOCKSTOWATCHTODAY BLOG Higher Still. The three major U.S. stock-market indexes rose as investors reacted optimistically to reports that drugs have been found to treat coronavirus. The Dow Jones Industrial Average gained 351 points, or 1.
Coty Inc. shares jumped 8.7% in Wednesday premarket trading after the beauty company reported fiscal second-quarter earnings and revenue beat that expectations and gave upbeat guidance. Net losses totaled $21.1 million, or 3 cents per share, after a loss of $960.6 million, or $1.28 per share, last year. Adjusted EPS was 27 cents, ahead of the FactSet consensus for 24 cents. Revenue totaled $2.35 billion, down from $2.51 billion but ahead of the $2.34 billion FactSet consensus. "Our turnaround plan has now been underway for two quarters, and we are confident that the actions we are taking will build a much healthier business and growth," said Pierre Laubies, chief executive of Coty, in a statement. Coty brands include Gucci, Tiffany, Rimmel, Sally Hansen and Kylie Jenner. Coty expects fiscal 2020 revenue to be flat to slightly lower, and mid-single digit EPS growth. The FactSet consensus is for revenue of $8.22 billion, implying a 4.9% decline, and EPS of 67 cents, suggesting a 3.5% increase. Coty stock has gained 36.2% over the past year while the S&P 500 index is up 20.5% for the period.
NEW YORK, NY / ACCESSWIRE / February 5, 2020 / Coty, Inc. (NYSE:COTY) will be discussing their earnings results in their 2020 Second Quarter Earnings to be held on February 5, 2020 at 8:00 AM Eastern Time. ...
Soft Consumer Beauty unit and supply chain hurdles are likely to get reflected in Coty's (COTY) performance in Q2. Nevertheless, robust Luxury segment and transformation efforts bode well.
Coty (COTY) doesn't possess the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.
Calvin Klein, Inc., a wholly owned subsidiary of PVH Corp. [NYSE: PVH], and Calvin Klein Fragrances, a division of Coty Inc. [NYSE: COTY], today revealed the new CK ONE underwear and jeans collection and CK EVERYONE, a clean fragrance, both inspired by the raw and rebel spirit of the original CK ONE. The collection and fragrance are unveiled in a global advertising campaign, proclaiming, "I am one, I am many. I love everyone of me."
Coty Inc. Appoints Kristin Blazewicz as Chief Legal Officer and a Member of the Executive Committee
Helen of Troy's (HELE) Q3 earnings and sales increase year over year on strength in the Housewares and Beauty segment. However, the Health & Home segment looks troubled.