Brokerages forecast that Colgate-Palmolive (NYSE:CL) will post $4.24 billion in sales for the current quarter, Zacks reports. Five analysts have made estimates for Colgate-Palmolive’s earnings, with the lowest sales estimate coming in at $4.16 billion and the highest estimate coming in at $4.31 billion. Colgate-Palmolive posted sales of $3.90 billion in the same quarter last year, which suggests a positive year-over-year growth rate of 8.7%. The firm is scheduled to announce its next quarterly earnings results on Friday, July 30th.
According to Zacks, analysts expect that Colgate-Palmolive will report full year sales of $17.39 billion for the current financial year, with estimates ranging from $17.24 billion to $17.48 billion. For the next fiscal year, analysts anticipate that the company will report sales of $18.00 billion, with estimates ranging from $17.85 billion to $18.13 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research firms that that provide coverage for Colgate-Palmolive.
Colgate-Palmolive (NYSE:CL) last announced its quarterly earnings data on Thursday, April 29th. The company reported $0.80 earnings per share for the quarter, beating the consensus estimate of $0.79 by $0.01. Colgate-Palmolive had a net margin of 16.65% and a return on equity of 383.88%. The firm had revenue of $4.34 billion for the quarter, compared to analyst estimates of $4.28 billion. During the same quarter in the prior year, the business earned $0.75 earnings per share. The business’s quarterly revenue was up 6.0% compared to the same quarter last year.
A number of equities research analysts recently weighed in on the stock. Stifel Nicolaus lowered shares of Colgate-Palmolive from a “buy” rating to a “hold” rating and set a $83.00 target price on the stock. in a report on Thursday, January 28th. Royal Bank of Canada lowered shares of Colgate-Palmolive from an “outperform” rating to a “sector perform” rating and set a $90.00 target price on the stock. in a report on Monday, January 4th. Deutsche Bank Aktiengesellschaft upped their target price on shares of Colgate-Palmolive from $84.00 to $85.00 and gave the stock a “hold” rating in a report on Monday. Sanford C. Bernstein assumed coverage on shares of Colgate-Palmolive in a report on Tuesday, January 19th. They issued an “underperform” rating and a $77.00 target price on the stock. Finally, JPMorgan Chase & Co. lowered their target price on shares of Colgate-Palmolive from $87.00 to $85.00 and set a “neutral” rating on the stock in a report on Thursday, April 22nd. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and two have given a buy rating to the stock. Colgate-Palmolive has an average rating of “Hold” and an average price target of $82.92.
In related news, insider Jennifer Daniels sold 20,692 shares of the company’s stock in a transaction that occurred on Thursday, February 4th. The shares were sold at an average price of $78.65, for a total transaction of $1,627,425.80. Following the sale, the insider now directly owns 55,585 shares in the company, valued at approximately $4,371,760.25. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Michael B. Polk sold 4,835 shares of the company’s stock in a transaction that occurred on Thursday, February 11th. The shares were sold at an average price of $79.25, for a total transaction of $383,173.75. Following the sale, the director now owns 23,090 shares in the company, valued at $1,829,882.50. The disclosure for this sale can be found here. Insiders have sold a total of 30,810 shares of company stock valued at $2,418,650 over the last three months. Insiders own 0.78% of the company’s stock.
Several hedge funds have recently made changes to their positions in the stock. Scott & Selber Inc. purchased a new stake in shares of Colgate-Palmolive during the 1st quarter valued at approximately $951,000. Toews Corp ADV purchased a new stake in shares of Colgate-Palmolive during the 1st quarter valued at approximately $938,000. Griffin Asset Management Inc. lifted its stake in shares of Colgate-Palmolive by 1.4% during the 1st quarter. Griffin Asset Management Inc. now owns 31,640 shares of the company’s stock valued at $2,494,000 after buying an additional 439 shares in the last quarter. Envestnet Asset Management Inc. lifted its stake in Colgate-Palmolive by 18.8% in the 1st quarter. Envestnet Asset Management Inc. now owns 426,230 shares of the company’s stock worth $33,600,000 after purchasing an additional 67,408 shares in the last quarter. Finally, Lionsbridge Wealth Management LLC lifted its stake in Colgate-Palmolive by 6.4% in the 1st quarter. Lionsbridge Wealth Management LLC now owns 15,219 shares of the company’s stock worth $1,199,000 after purchasing an additional 909 shares in the last quarter. Institutional investors own 76.47% of the company’s stock.
Shares of NYSE CL traded up $0.02 during trading on Thursday, hitting $81.09. 4,129,524 shares of the company traded hands, compared to its average volume of 4,879,681. The business’s fifty day moving average is $78.89 and its 200 day moving average is $80.70. Colgate-Palmolive has a fifty-two week low of $65.54 and a fifty-two week high of $86.41. The firm has a market capitalization of $68.73 billion, a price-to-earnings ratio of 25.91, a P/E/G ratio of 3.83 and a beta of 0.59. The company has a debt-to-equity ratio of 6.50, a quick ratio of 0.62 and a current ratio of 0.97.
The business also recently announced a quarterly dividend, which will be paid on Friday, May 14th. Stockholders of record on Wednesday, April 21st will be given a dividend of $0.45 per share. This is an increase from Colgate-Palmolive’s previous quarterly dividend of $0.44. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.22%. The ex-dividend date is Tuesday, April 20th. Colgate-Palmolive’s dividend payout ratio is currently 63.60%.
Colgate-Palmolive Company Profile
Colgate-Palmolive Company, together with its subsidiaries, manufactures and sells consumer products worldwide. The company operates through two segments, Oral, Personal and Home Care; and Pet Nutrition. The Oral, Personal and Home Care segment's products include toothpaste, toothbrushes, mouthwash, bar and liquid hand soaps, shower gels, shampoos, conditioners, deodorants and antiperspirants, skin health products, dishwashing detergents, fabric conditioners, household cleaners, and other similar items.
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