Stock analysts at Credit Suisse initiated coverage on shares of Avon Products (NYSE:AVP) in a report issued on Tuesday, TheFlyOnTheWall.com reports. The firm set a “neutral” rating and a $19.00 price target on the stock. Credit Suisse’s target price indicates a potential upside of 10.98% from the company’s current price.
The analysts wrote, “AVP’s new management is making progress, albeit unevenly, toward its long term goals of midsingle-digit sales growth and double-digit margins. That said, consensus EPS growth expectations are ambitious, in our view, particularly in light of the more recent sales trends. Given the still considerable challenges ahead, investors need to continue to expect a high degree of volatility. While this report addresses the fundamentals of AVP’s business, the stock is unlikely to trade on fundamentals until the FCPA overhang is resolved.”
A number of other analysts have also recently weighed in on AVP. Analysts at Barclays cut their price target on shares of Avon Products from $22.00 to $17.00 in a research note to investors on Monday, November 4th. They now have an “equal weight” rating on the stock. Separately, analysts at Stifel Nicolaus cut their price target on shares of Avon Products from $27.00 to $23.00 in a research note to investors on Friday, November 1st. They now have a “buy” rating on the stock. Finally, analysts at Sanford C. Bernstein cut their price target on shares of Avon Products from $24.00 to $20.00 in a research note to investors on Friday, November 1st. They now have a “market perform” rating on the stock. One analyst has rated the stock with a sell rating, ten have given a hold rating and seven have given a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $21.74.
Shares of Avon Products (NYSE:AVP) opened at 17.12 on Tuesday. Avon Products has a 52-week low of $13.75 and a 52-week high of $24.71. The stock has a 50-day moving average of $19.79 and a 200-day moving average of $21.45. The company’s market cap is $7.426 billion.
Avon Products (NYSE:AVP) last released its earnings data on Thursday, October 31st. The company reported $0.14 earnings per share for the quarter, missing the analysts’ consensus estimate of $0.19 by $0.05. The company had revenue of $2.30 billion for the quarter, compared to the consensus estimate of $2.45 billion. During the same quarter in the previous year, the company posted $0.07 earnings per share. The company’s revenue for the quarter was down 7.5% on a year-over-year basis. On average, analysts predict that Avon Products will post $1.00 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Monday, December 2nd. Stockholders of record on Friday, November 15th will be paid a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a dividend yield of 1.40%. The ex-dividend date is Wednesday, November 13th.
In other Avon Products news, SVP Pablo Munoz purchased 10,000 shares of the company’s stock on the open market in a transaction that occurred on Tuesday, November 5th. The stock was purchased at an average cost of $17.65 per share, for a total transaction of $176,500.00. Following the acquisition, the senior vice president now directly owns 22,000 shares of the company’s stock, valued at approximately $388,300. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.
Avon Products, Inc (NYSE:AVP) is a manufacturer and marketer of beauty and related products.
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