Colgate-Palmolive Company’s Neutral Rating Reaffirmed at Zacks (CL)
Colgate-Palmolive Company (NYSE:CL)‘s stock had its “neutral” rating reiterated by Zacks in a report issued on Thursday. They currently have a $68.00 target price on the stock. Zacks‘s target price indicates a potential upside of 5.62% from the company’s current price.
Zacks’ analyst wrote, “Colgate-Palmolive commands a market-leading position in oral care and personal care product categories. We believe that Colgate’s continued focus on product innovation, along with globally recognized brands and presence in both developed and emerging economies enables it to utilize the growth opportunities and consequently boost its profitability. This is evident from the company’s second-quarter 2014 results wherein adjusted earnings per share came in at $0.73, up 4% 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.”
In other Colgate-Palmolive Company news, COO Franck J. Moison unloaded 24,888 shares of the stock in a transaction dated Friday, August 8th. The stock was sold at an average price of $64.73, for a total transaction of $1,611,000.24. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.
Shares of Colgate-Palmolive Company (NYSE:CL) traded down 0.43% during mid-day trading on Thursday, hitting $64.10. 2,810,012 shares of the company’s stock traded hands. Colgate-Palmolive Company has a one year low of $56.94 and a one year high of $70.11. The stock has a 50-day moving average of $67.30 and a 200-day moving average of $65.6. The company has a market cap of $58.543 billion and a price-to-earnings ratio of 26.91. Colgate-Palmolive Company also was the recipient of unusually large options trading on Monday. Traders bought 13,502 put options on the company. This is an increase of 663% compared to the typical volume of 1,769 put options.
Colgate-Palmolive Company (NYSE:CL) last posted its quarterly earnings results on Thursday, July 31st. The company reported $0.73 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.73. The company had revenue of $4.35 billion for the quarter, compared to the consensus estimate of $4.41 billion. During the same quarter in the previous year, the company posted $0.70 earnings per share. The company’s revenue for the quarter was up .1% on a year-over-year basis. On average, analysts predict that Colgate-Palmolive Company will post $2.96 earnings per share for the current fiscal year.
Several other analysts have also recently commented on the stock. Analysts at Bernstein cut their price target on shares of Colgate-Palmolive Company from $69.00 to $66.00 in a research note on Friday, August 1st. Separately, analysts at Barclays reiterated an “overweight” rating on shares of Colgate-Palmolive Company in a research note on Friday, August 1st. They now have a $69.00 price target on the stock, up previously from $68.00. Finally, analysts at BMO Capital Markets upgraded shares of Colgate-Palmolive Company from a “market perform” rating to an “outperform” rating in a research note on Tuesday, June 10th. They now have a $75.00 price target on the stock, up previously from $66.00. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and six have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $67.86.
Colgate-Palmolive Company (NYSE:CL) is a consumer products company whose products are marketed in over 200 countries and territories throughout the world.
To view Zacks’ full report, visit Zacks’ official website.
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