Wall Street analysts forecast that Colgate-Palmolive Company (NYSE:CL) will report earnings per share of $0.73 for the current quarter, according to Zacks. Eight analysts have made estimates for Colgate-Palmolive’s earnings. The highest EPS estimate is $0.74 and the lowest is $0.71. Colgate-Palmolive also reported earnings per share of $0.73 in the same quarter last year. The company is expected to announce its next earnings report on Thursday, October 26th.
According to Zacks, analysts expect that Colgate-Palmolive will report full-year earnings of $2.89 per share for the current year, with EPS estimates ranging from $2.86 to $2.95. For the next fiscal year, analysts expect that the firm will post earnings of $3.11 per share, with EPS estimates ranging from $3.04 to $3.16. Zacks’ EPS averages are an average based on a survey of analysts that cover Colgate-Palmolive.
Colgate-Palmolive (NYSE:CL) last released its quarterly earnings results on Friday, July 21st. The company reported $0.72 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.72. The business had revenue of $3.83 billion during the quarter, compared to analyst estimates of $3.89 billion. Colgate-Palmolive had a net margin of 15.83% and a return on equity of 3,121.95%. The company’s quarterly revenue was down .5% on a year-over-year basis. During the same period in the prior year, the firm posted $0.70 earnings per share.
Several equities research analysts recently weighed in on the company. Bank of America Corporation boosted their target price on Colgate-Palmolive from $78.00 to $80.00 and gave the stock a “buy” rating in a research note on Wednesday, May 31st. BidaskClub cut Colgate-Palmolive from a “hold” rating to a “sell” rating in a research note on Saturday, June 24th. Vetr cut Colgate-Palmolive from a “buy” rating to a “hold” rating and set a $76.67 price objective for the company. in a research note on Wednesday, May 17th. Royal Bank Of Canada reiterated a “hold” rating and issued a $74.00 price objective on shares of Colgate-Palmolive in a research note on Thursday, May 25th. Finally, Jefferies Group LLC assumed coverage on Colgate-Palmolive in a research note on Tuesday, April 18th. They issued a “hold” rating and a $78.00 price objective for the company. Two equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating and two have assigned a buy rating to the company. Colgate-Palmolive has a consensus rating of “Hold” and an average target price of $75.82.
Colgate-Palmolive (NYSE CL) traded down 0.06% during mid-day trading on Tuesday, hitting $71.70. 1,909,282 shares of the company’s stock traded hands. The stock has a market cap of $63.16 billion, a PE ratio of 26.64 and a beta of 0.80. The firm’s 50-day moving average price is $73.49 and its 200-day moving average price is $72.60. Colgate-Palmolive has a one year low of $63.43 and a one year high of $77.27.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, August 15th. Stockholders of record on Tuesday, July 18th will be issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.23%. The ex-dividend date is Friday, July 14th. Colgate-Palmolive’s payout ratio is currently 59.48%.
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In other news, insider Patricia Verduin sold 3,833 shares of the business’s stock in a transaction that occurred on Thursday, June 15th. The stock was sold at an average price of $75.67, for a total value of $290,043.11. Following the transaction, the insider now owns 53,022 shares of the company’s stock, valued at $4,012,174.74. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, COO Justin Skala sold 74,374 shares of the business’s stock in a transaction that occurred on Thursday, July 27th. The shares were sold at an average price of $72.51, for a total value of $5,392,858.74. Following the completion of the transaction, the chief operating officer now directly owns 97,177 shares in the company, valued at approximately $7,046,304.27. The disclosure for this sale can be found here. In the last three months, insiders sold 217,969 shares of company stock worth $15,712,488. Corporate insiders own 1.02% of the company’s stock.
A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Chickasaw Capital Management LLC raised its position in shares of Colgate-Palmolive by 218.3% in the first quarter. Chickasaw Capital Management LLC now owns 16,920 shares of the company’s stock worth $1,238,000 after buying an additional 11,605 shares in the last quarter. Meritage Portfolio Management raised its position in shares of Colgate-Palmolive by 0.3% in the first quarter. Meritage Portfolio Management now owns 95,879 shares of the company’s stock worth $7,017,000 after buying an additional 255 shares in the last quarter. Eastern Bank raised its position in shares of Colgate-Palmolive by 0.8% in the first quarter. Eastern Bank now owns 10,939 shares of the company’s stock worth $801,000 after buying an additional 89 shares in the last quarter. ProShare Advisors LLC raised its position in shares of Colgate-Palmolive by 9.9% in the first quarter. ProShare Advisors LLC now owns 879,652 shares of the company’s stock worth $64,382,000 after buying an additional 79,323 shares in the last quarter. Finally, Lynch & Associates IN raised its position in shares of Colgate-Palmolive by 4.1% in the first quarter. Lynch & Associates IN now owns 29,542 shares of the company’s stock worth $2,162,000 after buying an additional 1,175 shares in the last quarter. 73.85% of the stock is currently owned by hedge funds and other institutional investors.
Colgate-Palmolive Company (Colgate) is a consumer products company. The Company operates in two product segments: Oral, Personal and Home Care, and Pet Nutrition. The Oral, Personal and Home Care product segment is operated through five geographic segments, which include North America, Latin America, Europe, Asia Pacific and Africa/Eurasia.
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