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Adam Eckert

Coty Stock Is Hitting 52-Week Lows Today: Here's Why

Stuttgart,,Germany,-,10-03-2022:,Mobile,Phone,With,Logo,Of,American

Coty Inc (NYSE:COTY) shares are tumbling Thursday after the company posted a surprise loss for the fourth quarter. Multiple analysts also cut price targets on the stock following the print.

What Happened: Coty beat fourth-quarter revenue estimates of $1.20 billion when it reported revenue of $1.25 billion, but the company missed earnings estimates by a wide margin, reporting a loss of 5 cents per share versus estimates for positive earnings of 2 cents per share.

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