The beauty products company announced it second-quarter earnings on Thursday. Elizabeth Arden reported a profit of $42.4 million, or $1.42 a share, up from a year-ago profit of $40 million, or $1.19 a share."RDEN reported better than expected F2Q results Thursday on both the top and bottom lines, driven by healthy international sales growth and gross margin expansion," Oppenheimer analysts wrote in a Feb. 2 report. "Despite this, the company merely reaffirmed F12 guidance, citing the acceleration of the global repositioning of the Arden brand. We view this as a positive, as it is a key to the company's future growth, and underscores RDEN's underlying business strength." Shares of Elizabeth Arden hit a 52-week high of $39.94 on Tuesday. The stock's 52-week low of $25.57 was set on March 16. Elizabeth Arden has a forward P/E of 16.78X; the average among personal products companies is 15.83X. Kimberly-Clark (KMB) has a lower forward P/E of 12.97X. Analysts covering Elizabeth Arden were split with four rating the company a buy and the other four giving it a hold rating. TheStreet Ratings gives Elizabeth Arden an A- grade and has a $50.35 price target on the shares. The stock has increased 6.64% year to date. --Written by Alexandra Zendrian in New York.
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