Zacks reiterated their neutral rating on shares of Avon Products (NYSE:AVP) in a research report sent to investors on Wednesday morning, Analyst Ratings.Net reports. The firm currently has a $19.00 price target on the stock.
Zacks’ analyst wrote, “Avon failed to continue its streak of positive earnings surprise in preceding three quarters. The company’s third-quarter 2013 earnings of $0.14 per share missed the Zacks Consensus Estimate of $0.19 and fell over 22% year over year primarily due to weak top-line performance. Further, currency fluctuations especially in Venezuela, decreasing revenues in North America and intense competition remain challenges to its growth. However, we remain impressed with Avon’s turnaround strategies, which are aimed at accelerating top-line growth, reducing costs and improving working capital. We note that Avon has been making significant progress in improving its balance sheet through refinancing activities and cutting costs by slashing jobs and exiting operations in underperforming markets. Given the pros and cons, we maintain our long-term Neutral recommendation on the stock.”
Shares of Avon Products (NYSE:AVP) opened at 17.79 on Wednesday. Avon Products has a one year low of $13.77 and a one year high of $24.71. The stock’s 50-day moving average is $18.8 and its 200-day moving average is $20.98. The company’s market cap is $7.717 billion. Avon Products also was the recipient of unusually large options trading activity on Monday. Traders acquired 8,100 put options on the company. This represents an increase of 378% compared to the typical daily volume of 1,696 put options.
Avon Products (NYSE:AVP) last posted its quarterly earnings results on Thursday, October 31st. The company reported $0.14 earnings per share (EPS) for the quarter, missing the 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 last year, the company posted $0.07 earnings per share. Avon Products’s revenue was down 7.5% compared to the same quarter last year. On average, analysts predict that Avon Products will post $0.97 earnings per share for the current fiscal year.
Other equities research analysts have also recently issued reports about the stock. Analysts at RBC Capital initiated coverage on shares of Avon Products in a research note to investors on Tuesday, November 26th. They set a sector perform rating and a $16.00 price target on the stock. Separately, analysts at Sanford C. Bernstein reiterated a hold rating on shares of Avon Products in a research note to investors on Saturday, November 23rd. They now have a $20.00 price target on the stock. Finally, analysts at Credit Suisse initiated coverage on shares of Avon Products in a research note to investors on Tuesday, November 19th. They set a neutral rating and a $19.00 price target on the stock. One analyst has rated the stock with a sell rating, ten have issued a hold rating and seven have assigned a buy rating to the stock. The company currently has a consensus rating of Hold and a consensus target price of $20.94.
Avon Products, Inc (NYSE:AVP) is a manufacturer and marketer of beauty and related products.
To view Zacks’ full report, visit www.zacks.com
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