These Analysts Slash Their Forecasts On Estée Lauder After Q1 Results - Estee Lauder Cos (NYSE:EL)

The Estée Lauder Companies Inc. (NYSE:EL) reported better-than-expected earnings for its first quarter.

The company reported a first-quarter FY24 sales decline of 10% year-on-year to $3.518 billion, missing the analyst consensus estimate of $3.529 billion. Adjusted EPS of $0.11 beat the consensus estimate of $(0.20).

Estee Lauder said it sees FY24 adjusted EPS of $2.17-$2.42 ($3.50 - $3.75 prior), against the consensus of $3.62. EL sees FY24 reported sales to be between a 2% decline - 1% increase (prior view: increase of 5%-7%).

Estee Lauder shares gained 7.6% to trade at $112.42 on Thursday.

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

RBC Capital cut the price target on Estee Lauder from $195 to $115. RBC Capital analyst Nik Modi downgraded the stock from Outperform to Sector Perform.
Telsey Advisory Group lowered the price target on Estee Lauder from $210 to $115. Telsey Advisory Group analyst Dana Telsey downgraded the stock from Outperform to Market Perform.
Goldman Sachs slashed the price target on Estee Lauder from $185 to $141. Goldman Sachs analyst Jason English maintained a Buy rating.
Morgan Stanley cut the price target on Estee Lauder from $200 to $134. Morgan Stanley analyst Dara Mohsenian maintained an Overweight rating.

Now Read This: Apple Gears Up For Q4 Print; These Most Accurate Analysts Revise Forecasts Ahead Of Earnings Call

ELThe Estee Lauder Companies Inc

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