Market Update (NYSE:EL): The Estée Lauder Companies Reports Solid Sales and Earnings Growth in Fiscal 2016 Third Quarter

[Business Wire] – The Estée Lauder Companies Inc. today reported results for its fiscal third quarter ended March 31, 2016 and announced a new initiative, named Leading Beauty Forward, designed to continue driving sales, reduce costs and enable new organizational capabilities. Read more on this. The Estée Lauder Companies Inc. (EL) , valued at $34.73B, opened this morning at $94.23. A quick look at the market, the company’s stock traded between $93.63 and $95.47 with a trailing 52-week range being $73.67 to $97.48. EL shares are currently priced at 30.83x this year’s forecasted earnings, which makes them relatively expensive compared to the industry’s 17.95x earnings multiple for the same period. And for dividend hunters, the company pays shareholders $1.20 per share annually in dividends, yielding 1.25%. Consensus earnings for the current quarter by the 21 sell-side analysts covering the stock is an estimate of $0.61 per share, which would be $0.11 worse than the year-ago quarter and a $0.15 sequential decrease. In looking at the bigger picture, the full-year EPS estimate of $3.15 would be a $0.33 better when compared to the previous year’s annual results. The quarterly earnings estimate is based on a consensus revenue forecast of the current quarter of $2.66 Billion. If realized, that would be a 3.10% increase over the year-ago quarter. Recently, Goldman downgraded EL from Buy to Neutral (Mar 16, 2016). Previously, Atlantic Equities Initiated EL at to Overweight. With the above information in mind, readers should note that the average price target is $101.67, which is 7.90% above where the stock opened this morning. See more in (NYSE:EL) Similar Articles: Company Update: The Est (NYSE:EL) – The Estée Lauder Companies Inc. Acquires By Kilian Company Update (NYSE:EL): The Estée Lauder Companies Delivers Strong Sales and Earnings Growth in Fiscal 2016 Second Quarter Stock Update (NYSE:EL): The Estée Lauder Companies Completes Investment in Dr. Jart+
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