Why Estee Lauder Rallied This Week
Management gave a positive update on the company's multi-year turnaround efforts.
Overview
Shares of beauty giant The Estee Lauder Companies (NYSE: EL) rallied 11.8% this week through Thursday, according to data from S&P Global Market Intelligence.
Estee Lauder reported fiscal fourth quarter earnings this week that blew past analyst estimates. Furthermore, the company gave optimistic guidance for the fiscal year ahead.
Details
Estee Lauder's stock has been punished thoroughly in recent years, down about 70% over the past five years, even after this week's move. However, the long grind of Estee Lauder's turnaround plan appears to be gaining traction.
Source
Originally published at www.fool.com.
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Disclaimer: This article is for informational purposes only and does not constitute investment advice. Data may be delayed up to 15 minutes. Past performance is not indicative of future results. Consult a licensed financial advisor before making investment decisions.