Colgate-Palmolive Company Given Neutral Rating at Zacks (CL)
Colgate-Palmolive Company (NYSE:CL)‘s stock had its “neutral” rating reiterated by Zacks in a report released on Tuesday, AnalystRatingsNetwork reports. They currently have a $70.00 price objective on the stock. Zacks‘s price target suggests a potential upside of 4.93% from the stock’s previous close.
Zacks’ analyst wrote, “Colgate-Palmolive commands a market-leading position in oral care and personal care product categories. We believe that the company’s continued focus on product innovation, along with globally recognized brands and presence in both developed and emerging economies facilitate the exploitation of growth opportunities and consequently boosts its profitability. This is evident from the company’s first-quarter 2014 results wherein adjusted earnings per share came in at $0.68, up 3% year over year and in line with the Zacks Consensus Estimate. However, we maintain our long-term Neutral recommendation on the stock as lingering macroeconomic concerns in Venezuela and Argentina may negatively impact its financials. In addition, intense competition and a sluggish economic recovery may undermine the company’s performance.”
Shares of Colgate-Palmolive Company (NYSE:CL) traded down 0.28% on Tuesday, hitting $66.71. The stock had a trading volume of 2,012,854 shares. Colgate-Palmolive Company has a 1-year low of $55.47 and a 1-year high of $67.95. The stock has a 50-day moving average of $65.47 and a 200-day moving average of $64.28. The company has a market cap of $61.065 billion and a P/E ratio of 28.81.
Colgate-Palmolive Company (NYSE:CL) last issued its quarterly earnings data on Friday, April 25th. The company reported $0.68 EPS for the quarter, meeting the Thomson Reuters consensus estimate of $0.68. The company had revenue of $4.33 billion for the quarter, compared to the consensus estimate of $4.32 billion. During the same quarter in the prior year, the company posted $0.66 earnings per share. The company’s quarterly revenue was up .2% on a year-over-year basis. On average, analysts predict that Colgate-Palmolive Company will post $2.99 earnings per share for the current fiscal year.
CL has been the subject of a number of other recent research reports. Analysts at BMO Capital Markets raised their price target on shares of Colgate-Palmolive Company from $64.00 to $66.00 in a research note on Monday, April 28th. They now have a “market perform” rating on the stock. Separately, analysts at B. Riley cut their price target on shares of Colgate-Palmolive Company from $68.00 to $66.00 in a research note on Monday, April 28th. They now have a “neutral” rating on the stock. Finally, analysts at UBS AG raised their price target on shares of Colgate-Palmolive Company from $70.00 to $73.00 in a research note on Monday, April 28th. They now have a “buy” rating on the stock. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating and seven have given a buy rating to the company. The stock currently has an average rating of “Hold” and an average price target of $70.24.
In other Colgate-Palmolive Company news, VP Ronald T. Martin unloaded 3,000 shares of Colgate-Palmolive Company stock in a transaction dated Friday, May 2nd. The stock was sold at an average price of $67.13, for a total transaction of $201,390.00. The sale was disclosed in a 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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