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NEW YORK (
Avon Products(AVP - Get Report) and
Jacobs Engineering Group(JEC - Get Report) were among the worst-performing stocks in the
S&P 500 on Tuesday.
The S&P 500 rose 7.91 points, or 0.57% to 1,405.82 as Wall Street began May on a positive note with investors encouraged by a strong read on manufacturing activity last month.
Shares of Avon Products dropped 8.01% to $19.87 on Tuesday. The beauty products company reported
first-quarter earnings of $26.5 million, or 6 cents a share, down from year-earlier earnings of $143.6 million, or 33 cents per share.
The stock currently trades at an estimated price-to-earnings ratio for next year of 11.89X; the average for personal products companies is 15.59X. For comparison,
Estee Lauder(EL) has a higher forward P/E of 24.61X.
Eleven of the 16 analysts who cover Avon Products rate it at hold. Four analysts give the stock a buy rating and one rates it at sell.
The stock has risen 13.74% year to date.