NEW YORK (TheStreet) -- Losses to Elizabeth Arden (RDEN) stock following its third-quarter earnings report are dragging on fellow beauty companies Coty (COTY) and Revlon (REV) over Tuesday's session. By late afternoon, Coty had fallen 2.3% to $15.47, while Revlon dropped 2% to $29.69.
Elizabeth Arden, meanwhile, saw a big drop in its share price after the Florida-based cosmetics firm reported a net loss far wider than analysts expected. Over its third quarter ended March, the company recorded a net loss of 84 cents a share and revenue of $210.84 million. Analysts surveyed by Thomson Reuters had forecast break-even earnings and revenue of $256.86 million.
Shares of Elizabeth Arden plummeted 22.8% to $27.50.
TheStreet Ratings team rates ELIZABETH ARDEN INC as a Hold with a ratings score of C+. TheStreet Ratings Team has this to say about their recommendation:
"We rate ELIZABETH ARDEN INC (RDEN) a HOLD. The primary factors that have impacted our rating are mixed -- some indicating strength, some showing weaknesses, with little evidence to justify the expectation of either a positive or negative performance for this stock relative to most other stocks. The company's strengths can be seen in multiple areas, such as its largely solid financial position with reasonable debt levels by most measures, good cash flow from operations and expanding profit margins. However, as a counter to these strengths, we also find weaknesses including a generally disappointing performance in the stock itself, deteriorating net income and disappointing return on equity."