New York City-based Coty is one of the world’s largest beauty companies. It offers a portfolio of products across fragrance, color cosmetics, and skin and body care. The stock has declined 17.7% in price so far this year to close yesterday’s trading session at $8.64. However, it has gained 25.4% over the past year and 11.8% over the past three months. And lately, hedge funds’ interest has increased in the stock.
COTY’s financial net debt improved by approximately $200 million to less than $5 billion at the end of the last reported quarter. In addition, it raised its adjusted per-share earnings guidance for fiscal 2022 to a range of $0.20 - $0.24, up from prior guidance of $0.19 to $0.23.
