Colgate-Palmolive Company (CL) Expected to Announce Earnings of $0.73 Per Share
Brokerages predict that Colgate-Palmolive Company (NYSE:CL) will report earnings of $0.73 per share for the current quarter, according to Zacks. Eight analysts have made estimates for Colgate-Palmolive’s earnings, with the highest EPS estimate coming in at $0.74 and the lowest estimate coming in at $0.71. Colgate-Palmolive also posted earnings of $0.73 per share during the same quarter last year. The firm is expected to announce its next earnings results on Thursday, October 26th.
According to Zacks, analysts expect that Colgate-Palmolive will report full-year earnings of $2.89 per share for the current fiscal year, with EPS estimates ranging from $2.86 to $2.95. For the next fiscal year, analysts expect that the business will report earnings of $3.11 per share, with EPS estimates ranging from $3.04 to $3.16. Zacks Investment Research’s EPS averages are a mean average based on a survey of research analysts that that provide coverage for Colgate-Palmolive.
Colgate-Palmolive (NYSE:CL) last issued its quarterly earnings data on Friday, July 21st. The company reported $0.72 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.72. The firm had revenue of $3.83 billion during the quarter, compared to the consensus estimate of $3.89 billion. Colgate-Palmolive had a return on equity of 3,121.95% and a net margin of 15.83%. The company’s quarterly revenue was down .5% on a year-over-year basis. During the same period last year, the company earned $0.70 EPS.
Several equities research analysts have commented on CL shares. Bank of America Corporation upped their price target on Colgate-Palmolive from $78.00 to $80.00 and gave the stock a “buy” rating in a research note on Wednesday, May 31st. Zacks Investment Research upgraded Colgate-Palmolive from a “hold” rating to a “buy” rating and set a $83.00 price target for the company in a research note on Tuesday, July 4th. Jefferies Group LLC upped their price target on Colgate-Palmolive from $76.00 to $77.00 and gave the stock a “hold” rating in a research note on Thursday, July 6th. Royal Bank Of Canada restated a “hold” rating and set a $74.00 price target on shares of Colgate-Palmolive in a research note on Monday, April 24th. Finally, Vetr lowered Colgate-Palmolive from a “buy” rating to a “hold” rating and set a $76.67 price target for the company. in a research note on Wednesday, May 17th. Two investment analysts have rated the stock with a sell rating, twelve have given a hold rating and two have assigned a buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $75.82.
Shares of Colgate-Palmolive (NYSE:CL) traded down 0.06% during mid-day trading on Tuesday, hitting $71.70. The company had a trading volume of 1,909,282 shares. The company has a market cap of $63.16 billion, a PE ratio of 26.64 and a beta of 0.80. Colgate-Palmolive has a 12 month low of $63.43 and a 12 month high of $77.27. The firm has a 50-day moving average of $73.49 and a 200-day moving average of $72.60.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, August 15th. Stockholders of record on Tuesday, July 18th will be paid a $0.40 dividend. The ex-dividend date of this dividend is Friday, July 14th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.23%. Colgate-Palmolive’s dividend payout ratio (DPR) is currently 59.48%.
In other news, insider Patricia Verduin sold 3,833 shares of the stock in a transaction dated Thursday, June 15th. The stock was sold at an average price of $75.67, for a total value of $290,043.11. Following the completion of the sale, the insider now owns 53,022 shares in the company, valued at $4,012,174.74. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Vice Chairman Franck J. Moison sold 35,000 shares of the stock in a transaction dated Monday, August 7th. The shares were sold at an average price of $71.52, for a total value of $2,503,200.00. Following the completion of the sale, the insider now owns 201,411 shares of the company’s stock, valued at approximately $14,404,914.72. The disclosure for this sale can be found here. In the last quarter, insiders sold 217,969 shares of company stock valued at $15,712,488. Insiders own 1.02% of the company’s stock.
Large investors have recently bought and sold shares of the stock. American Beacon Advisors Inc. acquired a new stake in shares of Colgate-Palmolive during the first quarter worth $102,000. Proficio Capital Partners LLC raised its stake in shares of Colgate-Palmolive by 16.9% in the first quarter. Proficio Capital Partners LLC now owns 1,432 shares of the company’s stock worth $107,000 after buying an additional 207 shares during the period. OLD Second National Bank of Aurora acquired a new stake in shares of Colgate-Palmolive during the second quarter worth $109,000. Hanson & Doremus Investment Management raised its stake in shares of Colgate-Palmolive by 4.5% in the second quarter. Hanson & Doremus Investment Management now owns 1,630 shares of the company’s stock worth $121,000 after buying an additional 70 shares during the period. Finally, Harbour Capital Advisors LLC acquired a new stake in shares of Colgate-Palmolive during the first quarter worth $121,000. Institutional investors and hedge funds own 73.85% of the company’s stock.
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Colgate-Palmolive 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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