Cosmetics maker The Estée Lauder Companies Inc. (NYSE: EL) reported results for its third fiscal quarter this morning that met expectations, but shares are getting knocked on lowered fourth quarter guidance. Adjusted EPS came in at $0.33, right on the consensus estimate, and revenues, too, hit the consensus estimate of $2.25 billion.
Rival Avon Products Inc. (NYSE: AVP) reported very weak results earlier this week as the company continues to fight a takeover bid from privately held Coty Inc. And Avon may have another suitor — there are reports that private equity firm Richmont Holdings Inc. is currently lining up financing to make its own bid for Avon.
Lauder lowered its fourth quarter adjusted EPS guidance to a range of $0.11-$0.16, well below the consensus estimate of $0.20. For the full year adjusted EPS guidance was forecast at $2.1-$2.26 versus a current estimate of $2.24.
Shares of Estée Lauder are down more than -4% in the pre-market at $61.49 in a 52-week range of $40.76-$65.60. Avon’s shares are up about 1.2% at $21.25 in a 52-week range of $16.09-$30.62. Avon rejected an offer from Coty for $23.25/share in early April.
Sponsored: Tips for Investing
A financial advisor can help you understand the advantages and disadvantages of investment properties. Finding a qualified financial advisor doesn’t have to be hard. SmartAsset’s free tool matches you with up to three financial advisors who serve your area, and you can interview your advisor matches at no cost to decide which one is right for you. If you’re ready to find an advisor who can help you achieve your financial goals, get started now.
Investing in real estate can diversify your portfolio. But expanding your horizons may add additional costs. If you’re an investor looking to minimize expenses, consider checking out online brokerages. They often offer low investment fees, helping you maximize your profit.