FY2017 EPS Estimates for Colgate-Palmolive Company (NYSE:CL) Lowered by Analyst
Colgate-Palmolive Company (NYSE:CL) – Investment analysts at KeyCorp cut their FY2017 earnings per share estimates for shares of Colgate-Palmolive in a research note issued on Tuesday. KeyCorp analyst J. Gere now anticipates that the company will post earnings of $2.94 per share for the year, down from their prior estimate of $2.95. KeyCorp also issued estimates for Colgate-Palmolive’s FY2018 earnings at $3.17 EPS.
A number of other equities research analysts have also recently commented on CL. UBS AG reaffirmed a “neutral” rating and set a $78.00 price objective (down from $79.00) on shares of Colgate-Palmolive in a research note on Tuesday, May 2nd. Royal Bank Of Canada reaffirmed a “hold” rating and set a $74.00 price objective on shares of Colgate-Palmolive in a research note on Monday, April 24th. Jefferies Group LLC assumed coverage on Colgate-Palmolive in a research note on Tuesday, April 18th. They set a “hold” rating and a $78.00 price objective for the company. BidaskClub cut Colgate-Palmolive from a “hold” rating to a “sell” rating in a research note on Saturday, June 24th. Finally, Citigroup Inc. reaffirmed a “neutral” rating and set a $76.00 price objective (up from $75.00) on shares of Colgate-Palmolive in a research note on Friday, April 7th. One equities research analyst has rated the stock with a sell rating, thirteen have issued a hold rating and three have assigned a buy rating to the stock. Colgate-Palmolive has a consensus rating of “Hold” and an average target price of $75.69.
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Shares of Colgate-Palmolive (NYSE CL) opened at 72.70 on Thursday. The firm has a market cap of $64.22 billion, a price-to-earnings ratio of 26.24 and a beta of 0.80. The stock has a 50 day moving average price of $74.93 and a 200 day moving average price of $72.20. Colgate-Palmolive has a one year low of $63.43 and a one year high of $77.27.
Colgate-Palmolive (NYSE:CL) last announced its quarterly earnings data on Friday, April 28th. The company reported $0.67 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.66 by $0.01. The business had revenue of $3.76 billion during the quarter, compared to analyst estimates of $3.80 billion. Colgate-Palmolive had a return on equity of 3,725.55% and a net margin of 16.31%. The company’s revenue was up .0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.63 earnings per share.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, August 15th. Stockholders of record on Tuesday, July 18th will be given a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 2.21%. The ex-dividend date of this dividend is Friday, July 14th. Colgate-Palmolive’s payout ratio is 57.76%.
In other news, Director Richard J. Kogan sold 8,000 shares of the company’s stock in a transaction that occurred on Monday, May 8th. The stock was sold at an average price of $71.92, for a total value of $575,360.00. Following the transaction, the director now owns 73,065 shares of the company’s stock, valued at $5,254,834.80. 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 3,833 shares of the company’s stock in a transaction that occurred on Thursday, June 15th. The shares were sold at an average price of $75.67, for a total value of $290,043.11. Following the completion of the transaction, the insider now directly owns 53,022 shares in the company, valued at approximately $4,012,174.74. The disclosure for this sale can be found here. Insiders sold 29,666 shares of company stock worth $2,144,371 in the last ninety days. 1.02% of the stock is owned by company insiders.
Large investors have recently modified their holdings of the stock. Glassman Wealth Services boosted its stake in shares of Colgate-Palmolive by 1.1% in the fourth quarter. Glassman Wealth Services now owns 18,390 shares of the company’s stock valued at $1,203,000 after buying an additional 200 shares during the period. Quest Investment Management Inc. OR boosted its stake in Colgate-Palmolive by 10.5% in the fourth quarter. Quest Investment Management Inc. OR now owns 76,609 shares of the company’s stock valued at $5,013,000 after buying an additional 7,292 shares during the last quarter. SRS Capital Advisors Inc. acquired a new stake in Colgate-Palmolive during the fourth quarter valued at $132,000. Two Sigma Investments LP boosted its stake in Colgate-Palmolive by 56.8% in the fourth quarter. Two Sigma Investments LP now owns 2,341,961 shares of the company’s stock valued at $153,258,000 after buying an additional 848,702 shares during the last quarter. Finally, Wallace Capital Management Inc. boosted its stake in Colgate-Palmolive by 4.0% in the fourth quarter. Wallace Capital Management Inc. now owns 19,968 shares of the company’s stock valued at $1,307,000 after buying an additional 770 shares during the last quarter. Institutional investors and hedge funds own 73.50% of the company’s stock.
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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