Stock Alert: Estee Lauder Rises To New 52-week High

(RTTNews) - Shares of Estee Lauder Companies Inc. (EL), a maker of skin care, makeup, fragrance and hair care products, are adding more than 3 percent or $9.26 in Monday's morning trade at $282.07. The stock hit a new 52-week high of $283.17 as the company's earnings for the second quarter beat analysts' estimates.

Friday, Estee Lauder reported that its net income for the second quarter rose to $873 million or $2.37 per share from $557 million or $1.52 per share in the year-ago period. Adjusted earnings were $2.61 per share, while analysts polled by Thomson Reuters had a consensus estimate of $1.69 per share. Net sales rose 5 percent to $4.85 billion from $4.62 billion last year.

For the third quarter, Estee Lauder forecast earnings in a range of $0.99 to $1.11 per share and adjusted earnings in a range of $1.10 to $1.20 per share. The company projected reported net sales to increase between 13 and 14 percent, and grow between 10 and 11 percent on a constant currency basis. The Street expects the company to report earnings of $1.46 per share on a sales growth of 15.3 percent to $3.86 billion for the quarter.

Estee Lauder has traded in a range of $137.01 to $283.17 in the past 52 weeks.