Avon's Stock Closes At Near 2-decade Low Ahead Of Earnings Report

Investors must not be expecting much from Avon Products , when the cosmetics company reports third-quarter results before Thursday's open, as the stock closed Wednesday at the lowest level in nearly two decades. Analysts surveyed by FactSet are projecting, on average, earnings per share to rise to 16 cents from 14 cents a year ago, while sales are forecast to decline to $2.15 billion from last year's $2.32 billion. The company has missed earnings expectations the last two quarters, and for three of the last four, while it has been seven quarters since the company last beat sales forecasts. The stock closed Wednesday at $10.96, or below $11 on a split-adjusted basis for the first time since July 30, 1996. The stock has lost 36% so far this year, while the S&P 500 has gained 7.2%.