NEW YORK (TheStreet) -- Shares of Estee Lauder Cos. Inc. (EL) are up 2.78% to $74.20 in pre-market trade after the company today reported net sales for its third quarter of $2.55 billion, an 11% increase compared with $2.29 billion in the prior-year quarter.
Excluding the impact of foreign currency translation, net sales increased 12%.
The manufacturers and marketers of quality skin care, makeup, fragrance and hair care products reported a 270 basis-point increase in operating margin, and net earnings for the quarter rose 19% to $213.2 million, compared with $178.8 million last year.
Diluted net earnings per common share were up 20% to 54 cents compared with 45 cents reported in the prior year.
TheStreet Ratings team rates LAUDER (ESTEE) COS INC as a Buy with a ratings score of A-. TheStreet Ratings Team has this to say about their recommendation:
"We rate LAUDER (ESTEE) COS INC (EL) a BUY. This is based on the convergence of positive investment measures, which should help this stock outperform the majority of stocks that we rate. The company's strengths can be seen in multiple areas, such as its revenue growth, largely solid financial position with reasonable debt levels by most measures and expanding profit margins. We feel these strengths outweigh the fact that the company has had lackluster performance in the stock itself."