Q3 2016 EPS Estimates for Colgate-Palmolive Co. Boosted by Analyst (CL)
Colgate-Palmolive Co. (NYSE:CL) – Investment analysts at KeyCorp upped their Q3 2016 EPS estimates for Colgate-Palmolive in a research report issued to clients and investors on Tuesday. KeyCorp analyst J. Gere now forecasts that the brokerage will earn $0.72 per share for the quarter, up from their previous forecast of $0.71. KeyCorp currently has a “Sector Weight” rating on the stock. KeyCorp also issued estimates for Colgate-Palmolive’s FY2016 earnings at $2.81 EPS and FY2017 earnings at $3.05 EPS.
Colgate-Palmolive (NYSE:CL) last issued its quarterly earnings results on Thursday, July 28th. The company reported $0.70 EPS for the quarter, topping the Zacks’ consensus estimate of $0.69 by $0.01. Colgate-Palmolive had a return on equity of 1,980.28% and a net margin of 9.04%. The company had revenue of $3.85 billion for the quarter, compared to analysts’ expectations of $3.86 billion. During the same quarter last year, the business earned $0.70 earnings per share. Colgate-Palmolive’s revenue was down 5.4% on a year-over-year basis.
Other research analysts have also recently issued research reports about the company. Bank of America Corp. raised Colgate-Palmolive from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $70.86 to $80.00 in a research report on Monday, September 12th. Citigroup Inc. boosted their price objective on Colgate-Palmolive from $82.00 to $88.00 and gave the stock a “buy” rating in a research report on Friday, July 29th. Zacks Investment Research raised Colgate-Palmolive from a “hold” rating to a “buy” rating and set a $83.00 price objective on the stock in a research report on Monday, October 3rd. Deutsche Bank AG reaffirmed a “hold” rating and set a $75.00 price target (up previously from $73.00) on shares of Colgate-Palmolive in a research report on Sunday, July 24th. Finally, JPMorgan Chase & Co. reaffirmed a “hold” rating and set a $75.00 price target on shares of Colgate-Palmolive in a research report on Friday, July 29th. Fourteen equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. The company has an average rating of “Hold” and an average price target of $74.68.
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Colgate-Palmolive (NYSE:CL) traded down 0.13% during mid-day trading on Wednesday, reaching $71.84. The company had a trading volume of 1,368,440 shares. The stock has a market capitalization of $64.04 billion, a P/E ratio of 46.26 and a beta of 0.63. Colgate-Palmolive has a 12-month low of $61.40 and a 12-month high of $75.38. The stock has a 50 day moving average price of $73.00 and a 200-day moving average price of $72.58.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, November 15th. Shareholders of record on Monday, October 24th will be paid a $0.39 dividend. The ex-dividend date is Thursday, October 20th. This represents a $1.56 dividend on an annualized basis and a yield of 2.17%. Colgate-Palmolive’s dividend payout ratio is currently 100.65%.
In other news, SVP John J. Huston sold 14,000 shares of the company’s stock in a transaction dated Wednesday, August 10th. The stock was sold at an average price of $74.93, for a total value of $1,049,020.00. Following the completion of the transaction, the senior vice president now directly owns 102,761 shares in the company, valued at approximately $7,699,881.73. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Patricia Verduin sold 3,834 shares of the company’s stock in a transaction dated Thursday, September 15th. The stock was sold at an average price of $71.85, for a total value of $275,472.90. Following the completion of the transaction, the insider now owns 55,013 shares of the company’s stock, valued at $3,952,684.05. The disclosure for this sale can be found here. 1.05% of the stock is owned by company insiders.
Several institutional investors have recently bought and sold shares of the company. Highland Private Wealth Management boosted its position in Colgate-Palmolive by 0.5% in the second quarter. Highland Private Wealth Management now owns 2,860 shares of the company’s stock worth $209,000 after buying an additional 14 shares during the last quarter. Sunbelt Securities Inc. boosted its position in Colgate-Palmolive by 0.5% in the second quarter. Sunbelt Securities Inc. now owns 2,869 shares of the company’s stock worth $210,000 after buying an additional 15 shares during the last quarter. Blue Chip Partners Inc. boosted its position in Colgate-Palmolive by 0.5% in the second quarter. Blue Chip Partners Inc. now owns 3,191 shares of the company’s stock worth $234,000 after buying an additional 16 shares during the last quarter. Northstar Group Inc. boosted its position in Colgate-Palmolive by 0.4% in the second quarter. Northstar Group Inc. now owns 4,994 shares of the company’s stock worth $366,000 after buying an additional 18 shares during the last quarter. Finally, Cornerstone Financial Partners LLC boosted its position in Colgate-Palmolive by 0.4% in the second quarter. Cornerstone Financial Partners LLC now owns 4,111 shares of the company’s stock worth $300,000 after buying an additional 18 shares during the last quarter. Hedge funds and other institutional investors own 72.95% of the company’s stock.
Colgate-Palmolive Company (Colgate) is a consumer products company, whose products are marketed in over 200 countries and territories throughout the world. The Company’s segments include Oral, Personal and Home Care, and Pet Nutrition. The Oral, Personal and Home Care product segment is operated through over five geographic segments, which include North America, Latin America, Europe/South Pacific, Asia and Africa/Eurasia.
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