The Estée Lauder Companies Inc. (NYSE:EL – Get Rating) – Equities researchers at Oppenheimer lifted their Q2 2023 EPS estimates for Estée Lauder Companies in a research note issued to investors on Thursday, August 18th. Oppenheimer analyst R. Parikh now anticipates that the company will post earnings of $3.11 per share for the quarter, up from their prior forecast of $2.91. Oppenheimer has a “Outperform” rating and a $300.00 price objective on the stock. The consensus estimate for Estée Lauder Companies’ current full-year earnings is $7.54 per share. Oppenheimer also issued estimates for Estée Lauder Companies’ Q3 2023 earnings at $2.18 EPS, Q4 2023 earnings at $0.95 EPS, FY2023 earnings at $7.50 EPS and FY2024 earnings at $8.35 EPS.
Other equities research analysts also recently issued research reports about the stock. Raymond James reduced their target price on shares of Estée Lauder Companies from $345.00 to $320.00 in a research note on Wednesday, May 4th. JPMorgan Chase & Co. reduced their target price on shares of Estée Lauder Companies from $270.00 to $265.00 in a research note on Thursday, July 21st. UBS Group boosted their target price on shares of Estée Lauder Companies from $266.00 to $289.00 and gave the company a “neutral” rating in a research note on Friday. Royal Bank of Canada cut their price target on Estée Lauder Companies from $322.00 to $313.00 and set an “outperform” rating for the company in a report on Friday. Finally, Credit Suisse Group cut their price target on Estée Lauder Companies from $310.00 to $308.00 and set an “outperform” rating for the company in a report on Friday. Four research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has assign ed a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $330.33.
Estée Lauder Companies Stock Down 3.0 %
Shares of NYSE:EL opened at $273.28 on Monday. Estée Lauder Companies has a 52 week low of $225.39 and a 52 week high of $374.20. The company has a debt-to-equity ratio of 0.92, a quick ratio of 1.23 and a current ratio of 1.60. The company’s fifty-day moving average is $258.89 and its 200-day moving average is $265.72. The company has a market capitalization of $97.66 billion, a PE ratio of 41.91, a P/E/G ratio of 3.49 and a beta of 0.97.
Estée Lauder Companies (NYSE:EL – Get Rating) last posted its quarterly earnings results on Thursday, August 18th. The company reported $0.42 earnings per share for the quarter, topping analysts’ consensus estimates of $0.34 by $0.08. Estée Lauder Companies had a net margin of 13.48% and a return on equity of 43.78%. The firm had revenue of $3.56 billion for the quarter, compared to the consensus estimate of $3.48 billion. During the same quarter in the previous year, the company earned $0.78 earnings per share. The business’s revenue was down 9.5% compared to the same quarter last year.
Hedge Funds Weigh In On Estée Lauder Companies
A number of large investors have recently bought and sold shares of EL. Fisher Asset Management LLC raised its stake in shares of Estée Lauder Companies by 540.9% during the 1st quarter. Fisher Asset Management LLC now owns 9,075 shares of the company’s stock worth $2,471,000 after purchasing an additional 7,659 shares in the last quarter. DekaBank Deutsche Girozentrale raised its stake in Estée Lauder Companies by 15.3% in the 1st quarter. DekaBank Deutsche Girozentrale now owns 171,517 shares of the company’s stock valued at $47,832,000 after acquiring an additional 22,821 shares during the shares period. Alphastar Capital Management LLC raised its stake in Estée Lauder Companies by 23.3% in the 1st quarter. Alphastar Capital Management LLC now owns 1,170 shares of the company’s stock valued at $319,000 after acquiring an additional 221 shares during the period. ProShare Advisors LLC raised its stake in Estée Lauder Companies by 31.6% in the 4th quarter. ProShare Advisors LLC now owns 45,44 5 shares of the company’s stock valued at $16,824,000 after acquiring an additional 10,920 shares during the period. Finally, Pinnacle Wealth Planning Services Inc. raised its stake in Estée Lauder Companies by 29.2% in the 1st quarter. Pinnacle Wealth Planning Services Inc. now owns 1,760 shares of the company’s stock valued at $479,000 after acquiring an additional 398 shares during the period. Institutional investors and hedge funds own 58.85% of the company’s stock.
Insider Activity at Estée Lauder Companies
In related news, EVP Carl P. Haney sold 548 shares of the business’s stock in a transaction that occurred on Friday, June 3rd. The stock was sold at an average price of $263.88, for a total value of $144,606.24. Following the completion of the transaction, the executive vice president now directly owns 3,296 shares in the company, valued at approximately $869,748.48. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Estée Lauder Companies news, EVP Carl P. Haney sold 1,965 shares of the company’s stock in a transaction that occurred on Thursday, May 26th. The stock was sold at an average price of $237.92, for a total transaction of $467,512.80. Following the completion of the transaction, the executive vice president now owns 4,515 shares of the company’s stock, valued at approximately $1,074,208.80. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. A lso, EVP Carl P. Haney sold 548 shares of the company’s stock in a transaction that occurred on Friday, June 3rd. The stock was sold at an average price of $263.88, for a total value of $144,606.24. Following the transaction, the executive vice The president now directly owns 3,296 shares of the company’s stock, valued at approximately $869,748.48. The disclosure for this sale can be found here. 13.95% of the stock is owned by insiders.
Estée Lauder Companies Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 15th. Investors of record on Wednesday, August 31st will be given a $0.60 dividend. The ex-dividend date of this dividend is Tuesday, August 30th. This represents a $2.40 annualized dividend and a dividend yield of 0.88%. Estée Lauder Companies’s dividend payout ratio is presently 36.81%.
About Estée Lauder Companies
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The Estée Lauder Companies Inc manufactures, markets, and sells skin care, makeup, fragrance, and hair care products worldwide. The company offers a range of skin care products, including moisturizers, serums, cleansers, toners, body care, exfoliators, acne care and oil correctors, facial masks, cleansing devices, and sun care products; and makeup products, such as lipsticks, lip glosses, mascaras, foundations, eyeshadows, nail polishes, and powders, as well as compacts, brushes, and other makeup tools.
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