Estee Lauder Analysts Cut Their Forecasts After Q4 Results

Estee Lauder Companies Inc EL reported better-than-expected fourth-quarter earnings, but issued weak guidance.

Estee Lauder reported fourth-quarter FY23 sales growth of 1% year-on-year to $3.61 billion, beating the analyst consensus of $3.47 billion. Adjusted EPS of $0.07 beat the analyst consensus of $(0.03).

Estee Lauder sees FY24 adjusted EPS of $3.50-$3.75, against the consensus of $4.83. EL sees FY24 sales growth of 5% - 7%. The company expects first-quarter FY24 adjusted EPS of $(0.31) - $(0.21) against the consensus of $0.99. Q1 FY24 revenue to decline 12% - 10%.

The company’s shares fell 3.3% to close at $156.69 on Friday.

These analysts made changes to their price targets on Estee Lauder following earnings announcement.

Telsey Advisory Group cut the price target on Estee Lauder from $250 to $210. Telsey Advisory Group analyst Dana Telsey maintained an Outperform rating.

Raymond James slashed the price target on Estee Lauder from $220 to $195. Raymond James analyst Olivia Tong maintained a Strong Buy rating.

Citigroup lowered the price target on Estee Lauder from $195 to $165. Citigroup analyst Filippo Falorni maintained a Neutral rating.

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