Estee Lauder Companies Inc (EL) was Downgraded by Piper Jaffray to ” Neutral”. Earlier the firm had a rating of “Overweight ” on the company shares. Piper Jaffray advised their investors in a research report released on Oct 14, 2016.
Many Wall Street Analysts have commented on Estee Lauder Companies Inc. Estee Lauder Companies Inc was Initiated by Berenberg to “Buy” on Sep 9, 2016. Shares were Reiterated by Jefferies on Aug 22, 2016 to “Hold” and Lowered the Price Target to $ 95 from a previous price target of $98 .
On the company’s financial health, Estee Lauder Companies Inc reported $0.44 EPS for the quarter, beating the analyst consensus estimate by $ 0.04 according to the earnings call on Aug 19, 2016. Analyst had a consensus of $0.40. The company had revenue of $2650.00 million for the quarter, compared to analysts expectations of $2663.12 million. The company’s revenue was up 5.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.40 EPS.
Estee Lauder Companies Inc closed down -0.25 points or -0.29% at $87.28 with 13,61,442 shares getting traded on Tuesday. Post opening the session at $87.34, the shares hit an intraday low of $87 and an intraday high of $87.67 and the price fluctuated in this range throughout the day.Shares ended Tuesday session in Red.
In a different news, on Sep 12, 2016, Fabrizio Freda (President and CEO) sold 18,758 shares at $88.00 per share price. According to the SEC, on Sep 8, 2016, Gregory Polcer (EVP – Global Supply Chain) sold 3,602 shares at $88.01 per share price. On Sep 8, 2016, Michael O’hare (EVP-Global Human Resources) sold 3,952 shares at $87.99 per share price, according to the Form-4 filing with the securities and exchange commission.
The Estee Lauder Companies Inc. is a manufacturer and marketer of skin care makeup fragrance and hair care products. The Companys products are sold in over 150 countries and territories under a number of brand names including Estee Lauder Aramis Clinique Origins Le Labo M.A.C Bobbi Brown La Mer and Aveda. It is also the global licensee for fragrances and/or cosmetics sold under brand names such as Tommy Hilfiger Donna Karan Michael Kors Tom Ford and Coach. It sells its products principally through limited distribution channels to complement the images associated with its brands. These channels include points of sale consisting of upscale department stores specialty retailers upscale perfumeries and pharmacies and prestige salons and spas. In addition its products are sold in freestanding Company-operated stores its own and authorized retailer Websites stores on cruise ships direct response television (DRTV) in-flight and duty-free shops.