Brokerages Anticipate Colgate-Palmolive Company (CL) Will Announce Quarterly Sales of $3.89 Billion
Wall Street analysts forecast that Colgate-Palmolive Company (NYSE:CL) will announce $3.89 billion in sales for the current quarter, according to Zacks. Eight analysts have issued estimates for Colgate-Palmolive Company’s earnings, with the lowest sales estimate coming in at $3.83 billion and the highest estimate coming in at $3.94 billion. Colgate-Palmolive Company reported sales of $3.85 billion during the same quarter last year, which would suggest a positive year over year growth rate of 1%. The company is scheduled to announce its next quarterly earnings results before the market opens on Friday, July 21st.
According to Zacks, analysts expect that Colgate-Palmolive Company will report full-year sales of $3.89 billion for the current financial year, with estimates ranging from $15.43 billion to $15.69 billion. For the next fiscal year, analysts anticipate that the company will post sales of $16.18 billion per share, with estimates ranging from $15.88 billion to $16.40 billion. Zacks Investment Research’s sales calculations are an average based on a survey of research firms that cover Colgate-Palmolive Company.
Colgate-Palmolive Company (NYSE:CL) last posted its earnings results on Friday, April 28th. The company reported $0.67 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.66 by $0.01. The company had revenue of $3.76 billion during the quarter, compared to analyst estimates of $3.80 billion. Colgate-Palmolive Company had a return on equity of 3,725.55% and a net margin of 16.31%. The company’s revenue for the quarter was up .0% compared to the same quarter last year. During the same period in the previous year, the company earned $0.63 EPS.
CL has been the subject of several research reports. Zacks Investment Research downgraded Colgate-Palmolive Company from a “buy” rating to a “hold” rating in a research report on Wednesday, May 3rd. Jefferies Group LLC reissued a “hold” rating and issued a $76.00 price target on shares of Colgate-Palmolive Company in a research note on Wednesday, May 17th. Royal Bank Of Canada reissued a “hold” rating and issued a $74.00 price target on shares of Colgate-Palmolive Company in a research note on Thursday, March 23rd. Citigroup Inc. increased their price target on Colgate-Palmolive Company from $70.00 to $75.00 and gave the company a “neutral” rating in a research note on Tuesday, March 21st. Finally, Bank of America Corporation increased their price target on Colgate-Palmolive Company from $78.00 to $80.00 and gave the company a “buy” rating in a research note on Wednesday, May 31st. One equities research analyst has rated the stock with a sell rating, fourteen have given a hold rating and two have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $75.41.
Colgate-Palmolive Company (NYSE CL) opened at 75.92 on Friday. Colgate-Palmolive Company has a 12-month low of $63.43 and a 12-month high of $77.27. The stock’s 50 day moving average price is $74.49 and its 200 day moving average price is $71.10. The company has a market cap of $67.06 billion, a PE ratio of 27.40 and a beta of 0.82.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, August 15th. Investors of record on Tuesday, July 18th will be paid a dividend of $0.40 per share. The ex-dividend date of this dividend is Friday, July 14th. This represents a $1.60 annualized dividend and a yield of 2.11%. Colgate-Palmolive Company’s dividend payout ratio is currently 57.76%.
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In related news, SVP John J. Huston sold 14,000 shares of the firm’s stock in a transaction that occurred on Wednesday, May 10th. The stock was sold at an average price of $71.53, for a total transaction of $1,001,420.00. Following the completion of the sale, the senior vice president now owns 102,838 shares of the company’s stock, valued at $7,356,002.14. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Patricia Verduin sold 3,833 shares of the firm’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 sale, the insider now directly owns 53,022 shares of the company’s stock, valued at approximately $4,012,174.74. The disclosure for this sale can be found here. Insiders have sold 43,666 shares of company stock valued at $3,184,972 in the last ninety days. 1.02% of the stock is currently owned by insiders.
Large investors have recently added to or reduced their stakes in the company. Atlantic Trust LLC boosted its stake in Colgate-Palmolive Company by 1.8% in the first quarter. Atlantic Trust LLC now owns 28,253 shares of the company’s stock valued at $2,068,000 after buying an additional 499 shares in the last quarter. Clearbridge Investments LLC boosted its stake in Colgate-Palmolive Company by 600.5% in the first quarter. Clearbridge Investments LLC now owns 207,571 shares of the company’s stock valued at $15,192,000 after buying an additional 177,940 shares in the last quarter. Perigon Wealth Management LLC boosted its stake in Colgate-Palmolive Company by 0.3% in the first quarter. Perigon Wealth Management LLC now owns 36,591 shares of the company’s stock valued at $2,678,000 after buying an additional 113 shares in the last quarter. Sowell Financial Services LLC boosted its stake in Colgate-Palmolive Company by 51.9% in the first quarter. Sowell Financial Services LLC now owns 3,877 shares of the company’s stock valued at $289,000 after buying an additional 1,325 shares in the last quarter. Finally, Piedmont Investment Advisors LLC boosted its stake in Colgate-Palmolive Company by 0.9% in the first quarter. Piedmont Investment Advisors LLC now owns 184,317 shares of the company’s stock valued at $13,490,000 after buying an additional 1,576 shares in the last quarter. 74.12% of the stock is owned by institutional investors and hedge funds.
Colgate-Palmolive Company Company Profile
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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