Colgate-Palmolive Company to Post FY2017 Earnings of $2.88 Per Share, KeyCorp Forecasts (NYSE:CL)
Colgate-Palmolive Company (NYSE:CL) – Investment analysts at KeyCorp dropped their FY2017 earnings per share (EPS) estimates for shares of Colgate-Palmolive in a research report issued to clients and investors on Sunday. KeyCorp analyst J. Gere now expects that the company will post earnings per share of $2.88 for the year, down from their previous estimate of $2.94. KeyCorp also issued estimates for Colgate-Palmolive’s Q2 2018 earnings at $0.76 EPS and FY2018 earnings at $3.07 EPS.
Colgate-Palmolive (NYSE:CL) last released its quarterly earnings results on Friday, July 21st. The company reported $0.72 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.72. Colgate-Palmolive had a net margin of 15.83% and a return on equity of 3,121.95%. The business had revenue of $3.83 billion during the quarter, compared to the consensus estimate of $3.89 billion. During the same quarter last year, the company earned $0.70 earnings per share. The business’s quarterly revenue was down .5% compared to the same quarter last year. ILLEGAL ACTIVITY WARNING: “Colgate-Palmolive Company to Post FY2017 Earnings of $2.88 Per Share, KeyCorp Forecasts (NYSE:CL)” was originally reported by American Banking News and is the sole property of of American Banking News. If you are reading this story on another domain, it was copied illegally and republished in violation of United States & international copyright and trademark laws. The correct version of this story can be accessed at https://www.americanbankingnews.com/2017/07/25/colgate-palmolive-company-to-post-fy2017-earnings-of-2-88-per-share-keycorp-forecasts-nysecl.html.
CL has been the subject of a number of other reports. Citigroup Inc. reiterated a “neutral” rating and set a $76.00 price target (up from $75.00) on shares of Colgate-Palmolive in a report on Friday, April 7th. Zacks Investment Research upgraded Colgate-Palmolive from a “sell” rating to a “hold” rating in a report on Thursday, March 30th. Royal Bank Of Canada reiterated a “hold” rating and set a $74.00 price target on shares of Colgate-Palmolive in a report on Thursday, May 25th. UBS AG reiterated a “neutral” rating and set a $78.00 price target (down from $79.00) on shares of Colgate-Palmolive in a report on Tuesday, May 2nd. Finally, BidaskClub lowered Colgate-Palmolive from a “sell” rating to a “strong sell” rating in a report on Wednesday, July 12th. One investment analyst has rated the stock with a sell rating, thirteen have given a hold rating and three have given a buy rating to the company’s stock. Colgate-Palmolive currently has a consensus rating of “Hold” and an average target price of $75.83.
Colgate-Palmolive (NYSE CL) traded up 0.07% during mid-day trading on Tuesday, hitting $71.90. 297,859 shares of the stock were exchanged. Colgate-Palmolive has a one year low of $63.43 and a one year high of $77.27. The company has a market cap of $63.33 billion, a P/E ratio of 26.72 and a beta of 0.81. The company has a 50-day moving average price of $74.56 and a 200-day moving average price of $72.34.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, August 15th. Shareholders of record on Tuesday, July 18th will be given a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 2.23%. The ex-dividend date of this dividend is Friday, July 14th. Colgate-Palmolive’s dividend payout ratio (DPR) is 59.48%.
In other news, SVP John J. Huston sold 14,000 shares of the stock in a transaction 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 sale, the senior vice president now owns 102,838 shares in the company, valued at $7,356,002.14. The sale 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 stock in a transaction 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 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 over the last quarter. Company insiders own 1.02% of the company’s stock.
Several hedge funds have recently made changes to their positions in the company. Congress Asset Management Co. MA acquired a new stake in shares of Colgate-Palmolive during the fourth quarter valued at approximately $48,550,000. Cigna Investments Inc. New acquired a new stake in shares of Colgate-Palmolive during the fourth quarter valued at approximately $3,744,000. United Capital Financial Advisers LLC boosted its stake in shares of Colgate-Palmolive by 3.3% in the fourth quarter. United Capital Financial Advisers LLC now owns 464,834 shares of the company’s stock valued at $30,419,000 after buying an additional 14,837 shares during the last quarter. Summit Global Investments acquired a new stake in shares of Colgate-Palmolive during the fourth quarter valued at approximately $2,265,000. Finally, Shepherd Financial Partners LLC acquired a new stake in shares of Colgate-Palmolive during the fourth quarter valued at approximately $269,000. Institutional investors own 73.57% 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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