Estée Lauder Companies (NYSE:EL) Issues FY 2024 Earnings Guidance

Estée Lauder Companies (NYSE:EL) updated its FY 2024 earnings guidance on Wednesday. The company provided earnings per share guidance of 2.140-2.240 for the period, compared to the consensus estimate of 2.250. The company issued revenue guidance of $15.4 billion-$15.6 billion, compared to the consensus revenue estimate of $15.8 billion. Estée Lauder Companies also updated its FY24 guidance to $2.14-2.24 EPS.

Estée Lauder Companies Stock Down 1.5 %

Shares of NYSE EL traded down $2.00 during midday trading on Friday, hitting $132.94. The company’s stock had a trading volume of 3,791,987 shares, compared to its average volume of 2,776,756. Estée Lauder Companies has a 1 year low of $102.22 and a 1 year high of $209.64. The business’s fifty day simple moving average is $145.88 and its two-hundred day simple moving average is $138.18. The firm has a market capitalization of $47.66 billion, a price-to-earnings ratio of 74.69, a price-to-earnings-growth ratio of 3.56 and a beta of 1.07. The company has a debt-to-equity ratio of 1.26, a current ratio of 1.58 and a quick ratio of 0.96.

Estée Lauder Companies (NYSE:EL) last issued its quarterly earnings results on Wednesday, May 1st. The company reported $0.97 EPS for the quarter, beating the consensus estimate of $0.48 by $0.49. Estée Lauder Companies had a net margin of 4.18% and a return on equity of 13.08%. The company had revenue of $3.94 billion during the quarter, compared to analysts’ expectations of $3.92 billion. During the same quarter last year, the company posted $0.47 EPS. The firm’s revenue was up 5.0% compared to the same quarter last year. On average, equities analysts predict that Estée Lauder Companies will post 2.22 EPS for the current year.

Estée Lauder Companies Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 17th. Investors of record on Friday, May 31st will be paid a dividend of $0.66 per share. The ex-dividend date of this dividend is Thursday, May 30th. This represents a $2.64 annualized dividend and a yield of 1.99%. Estée Lauder Companies’s payout ratio is 148.31%.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on EL. StockNews.com upgraded Estée Lauder Companies from a sell rating to a hold rating in a research note on Thursday. Wells Fargo & Company boosted their price target on shares of Estée Lauder Companies from $155.00 to $175.00 and gave the stock an overweight rating in a report on Tuesday, February 6th. Royal Bank of Canada increased their price objective on shares of Estée Lauder Companies from $115.00 to $131.00 and gave the company a sector perform rating in a research report on Tuesday, February 6th. Bernstein Bank lifted their price objective on shares of Estée Lauder Companies from $155.00 to $160.00 in a research report on Wednesday. Finally, Canaccord Genuity Group dropped their target price on Estée Lauder Companies from $140.00 to $131.00 and set a hold rating on the stock in a report on Thursday. Seventeen equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of Hold and a consensus target price of $160.92.

About Estée Lauder Companies

The Estée Lauder Companies Inc manufactures, markets, and sells skin care, makeup, fragrance, and hair care products worldwide. It offers skin care products, including moisturizers, serums, cleansers, toners, body care, exfoliators, acne care and oil correctors, facial masks, 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.