Estee Lauder (NYSE: EL) stock price was following a bearish trend, but in recent days, it started showing a bullish outlook. The weekly price performance of the stock showed more than 9% of price gain, while its recent one day performance was also showing bullish sentiments.
The year-to-date (YTD) price performance of the stock market showed more than 20% of price drop, while in one month the price decline was nearly 1%. The stock price mostly followed bearish market trends but as the bulls took control, the price started rising upside.
EL Stock Price Analysis
According to Tradingview, EL stock price closed at the price of $199.41 on June 15, yesterday, with nearly 3% of price gain. The opening price noted by the stock was at $192.83, while high was at $200.56 and low was at $192.61. Moreover, in the past 5 days of trading, the stock price moved upwards from the price range of $180.90 to its recent closing price.
As the above chart shows, the stock price has surpassed its 20-day EMA, while with the continuous bulls support, it may further move upside. The RSI that previously rested near the oversold zone also started moving upward by gaining the potential growth of bulls.
Meanwhile, the analysts are offering a one year price target at $238.05 showing a 19% rise with the recent closing price of stock. Additionally, the maximum price estimate set by the analysts is at $270.00, while minimum estimate is at $207.00.
Estee Lauder Companies Inc has a market cap of $71.27 Billion, while the revenue last year amounted to $17.74 Billion. Around $9.89 Billion came from its highest performing source at the moment, Skin Care. Notably, the greatest contribution to the revenue figure was made by Europe, the Middle East & Africa, as last year it brought the company $7.68 Billion.
Estee Lauder Companies earnings for Q3 2023 are $0.47, whereas the estimation was $0.51, which accounts for a -8.34% surprise. The revenue for the same period amounts to $3.75 Billion despite the estimated figure of $3.71 Billion. Moreover, the estimated earnings for the next quarter are $-0.03, and revenue is expected to reach $3.53 Billion.
Moreover, the majority of shares are around 91% held by institutions, while Vanguard Group, Inc. and Blackrock Inc. are the top-2 institutional holders, according to Yahoo Finance.
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Andrew is a blockchain developer who developed his interest in cryptocurrencies while his post-graduation. He is a keen observer of details and shares his passion for writing along with being a developer. His backend knowledge about blockchain helps him give a unique perspective to his writing
Source: https://www.thecoinrepublic.com/2023/06/16/el-stock-price-trying-to-move-upside-after-bearish-market-trend/