Colgate-Palmolive Stock Rating Upgraded by Morgan Stanley (CL)
Colgate-Palmolive (NYSE:CL) was upgraded by Morgan Stanley from an “equal weight” rating to an “overweight” rating in a research note issued on Monday, TheFlyOnTheWall.com reports. The firm currently has a $68.00 price objective on the stock, up from their previous price objective of $59.93. Morgan Stanley’s price target would suggest a potential upside of 13.47% from the company’s current price. The analysts noted that the move was a valuation call.
CL has been the subject of a number of other recent research reports. Analysts at Barclays Capital upgraded shares of Colgate-Palmolive (NYSE:CL) from an “equal weight” rating to an “overweight” rating in a research note to investors on Wednesday, September 18th. They now have a $65.00 price target on the stock, up previously from $59.00. Separately, analysts at BNP Paribas initiated coverage on shares of Colgate-Palmolive (NYSE:CL) in a research note to investors on Wednesday, September 11th. They set a “neutral” rating and a $62.00 price target on the stock. Finally, analysts at Argus downgraded shares of Colgate-Palmolive (NYSE:CL) from a “buy” rating to a “hold” rating in a research note to investors on Friday, August 16th. They noted that the move was a valuation call. One equities research analyst has rated the stock with a sell rating, thirteen have given a hold rating and seven have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $84.26.
Shares of Colgate-Palmolive (NYSE:CL) traded up 0.38% during mid-day trading on Monday, hitting $60.16. 1,002,151 shares of the company’s stock traded hands. Colgate-Palmolive has a one year low of $51.41 and a one year high of $62.70. The stock has a 50-day moving average of $59.23 and a 200-day moving average of $59.11. The company has a market cap of $55.809 billion and a price-to-earnings ratio of 25.00.
Colgate-Palmolive (NYSE:CL) last released its earnings data on Thursday, July 25th. The company reported $0.70 EPS for the quarter, meeting the Thomson Reuters consensus estimate of $0.70. The company had revenue of $4.35 billion for the quarter, compared to the consensus estimate of $4.39 billion. During the same quarter in the prior year, the company posted $1.33 earnings per share. The company’s quarterly revenue was up 1.9% on a year-over-year basis. Analysts expect that Colgate-Palmolive will post $2.83 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Friday, November 15th. Stockholders of record on Tuesday, October 22nd will be paid a dividend of $0.34 per share. This represents a $1.36 annualized dividend and a dividend yield of 2.27%. The ex-dividend date is Friday, October 18th.
In other Colgate-Palmolive news, Insider Andrew Hendry unloaded 6,000 shares of the company’s stock in a transaction that occurred on Tuesday, September 24th. The shares were sold at an average price of $60.00, for a total transaction of $360,000.00. Following the transaction, the insider now directly owns 192,547 shares of the company’s stock, valued at approximately $11,552,820. The sale was disclosed in a legal filing with the SEC, which is available at this link.
Colgate-Palmolive Company (NYSE:CL) is a consumer products company whose products are marketed in over 200 countries and territories throughout the world.
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