Estee Lauder Companies Inc. is due to post its 2016 fiscal fourth quarter results before Friday’s opening bell in American session. The company’s revenue is expected to arrive at $2.66 billion for the quarter, higher than the reading of $2.52 billion for the same period one year ago. Analysts estimated the New York-based beauty products company to post its earnings per share of $0.40, unchanged in comparison with the equivalent figure in the past year.
Last week, Macy’s, which is Estee Lauder’s largest customer, announced that it planed to close 100 stores. This could have short-to-medium-term impact on Estee Lauder’s sales. However, investors still showed a great belief in the company’s solid development with revenue growth and a strong financial situation with reasonable debt levels. Shares of the company closed higher on Thursday (18/8) ahead of the company’s earnings announcement.
On the hourly chart, the stochastic chart shows that the %K line jumped into the overbought zone, far ahead the %D line, which consolidated a strong bullish trend. Moreover, RSI (14) ticked up to 63.4140, which suggested the uptrend is taking the dominance. If the stock price can pass the firm resistance area around the last close price, more advances are awaited.
Fig. Estee Lauder H1 Technical Chart
Analyses of Group Fiinvesting
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