Coty Inc (NYSE:COTY) shares are tumbling Thursday after the company posted a surprise loss for the fourth quarter. Multiple analysts also cut price targets on the stock following the print.
What Happened: Coty beat fourth-quarter revenue estimates of $1.20 billion when it reported revenue of $1.25 billion, but the company missed earnings estimates by a wide margin, reporting a loss of 5 cents per share versus estimates for positive earnings of 2 cents per share.
Net revenue fell 8% year-over-year as the company …