Brokerages Expect Avon Products, Inc. (AVP) Will Announce Quarterly Sales of $1.45 Billion

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Brokerages forecast that Avon Products, Inc. (NYSE:AVP) will post sales of $1.45 billion for the current quarter, Zacks reports. Four analysts have issued estimates for Avon Products’ earnings, with estimates ranging from $1.40 billion to $1.52 billion. Avon Products reported sales of $1.57 billion in the same quarter last year, which would suggest a negative year-over-year growth rate of 7.6%. The business is scheduled to report its next quarterly earnings results on Thursday, February 21st.

According to Zacks, analysts expect that Avon Products will report full-year sales of $5.50 billion for the current year, with estimates ranging from $5.40 billion to $5.65 billion. For the next financial year, analysts expect that the company will report sales of $5.24 billion, with estimates ranging from $5.08 billion to $5.46 billion. Zacks’ sales calculations are a mean average based on a survey of analysts that that provide coverage for Avon Products.

Avon Products (NYSE:AVP) last posted its quarterly earnings results on Thursday, November 1st. The company reported $0.02 EPS for the quarter, topping analysts’ consensus estimates of $0.01 by $0.01. Avon Products had a negative return on equity of 7.67% and a net margin of 2.61%. The company had revenue of $1.42 billion during the quarter, compared to analysts’ expectations of $1.32 billion. During the same quarter in the previous year, the firm earned $0.03 EPS. Avon Products’s revenue was up .5% on a year-over-year basis.

A number of equities analysts have recently commented on AVP shares. Jefferies Financial Group raised Avon Products from an “underperform” rating to a “hold” rating and set a $1.75 price target for the company in a report on Wednesday, July 18th. ValuEngine raised Avon Products from a “sell” rating to a “hold” rating in a report on Tuesday, August 7th. Zacks Investment Research raised Avon Products from a “sell” rating to a “hold” rating in a report on Wednesday, September 19th. DA Davidson raised Avon Products from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $1.75 to $3.50 in a report on Monday, September 24th. Finally, TheStreet raised Avon Products from a “d” rating to a “c-” rating in a report on Friday, November 2nd. One analyst has rated the stock with a sell rating, five have assigned a hold rating and two have given a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $2.63.

In other news, Director James A. Mitarotonda bought 100,000 shares of the stock in a transaction on Monday, August 13th. The stock was acquired at an average price of $1.69 per share, with a total value of $169,000.00. Following the acquisition, the director now directly owns 8,333 shares in the company, valued at $14,082.77. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.72% of the stock is owned by corporate insiders.

A number of institutional investors and hedge funds have recently modified their holdings of AVP. Investec Asset Management LTD increased its holdings in Avon Products by 104.9% in the 2nd quarter. Investec Asset Management LTD now owns 13,295,042 shares of the company’s stock worth $21,538,000 after purchasing an additional 6,805,784 shares in the last quarter. Millennium Management LLC increased its holdings in Avon Products by 97.2% in the 2nd quarter. Millennium Management LLC now owns 8,251,494 shares of the company’s stock worth $13,367,000 after purchasing an additional 4,066,931 shares in the last quarter. BlackRock Inc. increased its holdings in Avon Products by 8.5% in the 2nd quarter. BlackRock Inc. now owns 41,350,428 shares of the company’s stock worth $66,988,000 after purchasing an additional 3,228,492 shares in the last quarter. General American Investors Co. Inc. acquired a new position in Avon Products in the 3rd quarter worth about $5,247,000. Finally, Dimensional Fund Advisors LP increased its holdings in Avon Products by 20.9% in the 1st quarter. Dimensional Fund Advisors LP now owns 9,882,732 shares of the company’s stock worth $28,067,000 after purchasing an additional 1,705,275 shares in the last quarter. 77.76% of the stock is owned by institutional investors and hedge funds.

Shares of Avon Products stock traded up $0.04 during trading on Friday, reaching $2.01. 2,837,981 shares of the company’s stock were exchanged, compared to its average volume of 3,472,419. Avon Products has a 1-year low of $1.38 and a 1-year high of $2.99. The stock has a market capitalization of $902.41 million, a P/E ratio of 33.50, a price-to-earnings-growth ratio of 2.59 and a beta of 1.38.

About Avon Products

Avon Products, Inc manufactures and markets beauty and related products in Europe, the Middle East, Africa, south Latin America, north Latin America, and the Asia Pacific. The company offers beauty products, including skincare, fragrance, and color cosmetics; and fashion and home products, such as fashion jewelry, watches, apparel, footwear, accessories, gift and decorative products, housewares, entertainment and leisure products, children's products, and nutritional products.

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