Avon Products, Inc (NYSE:AVP) shares up by 3.67%


Dallas, Texas 08/02/2013 (Financialstrend) –  Avon Products, Inc (NYSE:AVP) manufacturer of beauty products reported its second quarter financial results recently, where net income of the company decreased to $31.9 million or $0.07 per share from $61.6 million or $0.14 per share recorded in the same period last year, operating income grew to $84.6 million or $0.19 per share from $65.1 million or $0.15 per share a year ago, Adjusted earnings was $0.21 per share from the continuing operations, analysts at Thomson Reuters expected profit of $0.25 per share for the quarter, where the total revenue fell to $2.50 billion from $2.55 billion a year ago.

The company also declared its cash dividend of $.06 per share on its common stocks which is payable on September 3, 2013 for the shareholders who were recorded on August 15, 2013, earlier Avon announced that it is reviewing its strategies for its sterling silver jewellery selling business at home parties, in the year 2010 Avon from Silpada Designs,  Sheri McCoy CEO was leading the company to leave unprofitable markets, streamlining its operations with the aim  of attaining revenue growth and to make a mid-single-digit percentage in revenue and cost savings of $400 million by 2016.

 Avon Products, Inc (NYSE:AVP) closed at $22.02 per share on Thursday to make a gain of 3.67% over the previous close. The stock moved between intraday low of $21.38 and $24.71 per share as intraday high during the day. There are 433 million shares outstanding with institutional holding of 88%. The 52 week low is at $13.70 per share and 52 week high is at $24.71 per share. With $9.54 billion market capitalization there were 14.28 million shares of trading in the company’s stock on Thursday and the average volume is at 3.53 million shares per day.