$3.92 Billion in Sales Expected for Colgate-Palmolive Company (CL) This Quarter
Equities analysts expect that Colgate-Palmolive Company (NYSE:CL) will report sales of $3.92 billion for the current quarter, according to Zacks. Eight analysts have provided estimates for Colgate-Palmolive’s earnings. The highest sales estimate is $3.95 billion and the lowest is $3.89 billion. Colgate-Palmolive reported sales of $3.87 billion during the same quarter last year, which would suggest a positive year-over-year growth rate of 1.3%. The business is scheduled to report its next quarterly earnings results before the market opens on Friday, October 27th.
According to Zacks, analysts expect that Colgate-Palmolive will report full year sales of $3.92 billion for the current fiscal year, with estimates ranging from $15.33 billion to $15.55 billion. For the next financial year, analysts anticipate that the business will report sales of $16.03 billion per share, with estimates ranging from $15.74 billion to $16.40 billion. Zacks’ sales calculations are an average based on a survey of research firms that follow Colgate-Palmolive.
Colgate-Palmolive (NYSE:CL) last announced its quarterly earnings data on Friday, July 21st. The company reported $0.72 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.72. The business had revenue of $3.83 billion during the quarter, compared to the consensus estimate of $3.89 billion. Colgate-Palmolive had a net margin of 15.83% and a return on equity of 3,121.95%. The firm’s quarterly revenue was down .5% compared to the same quarter last year. During the same quarter last year, the firm earned $0.70 earnings per share.
Several analysts have recently weighed in on the stock. Jefferies Group LLC reissued a “hold” rating and issued a $79.00 price target on shares of Colgate-Palmolive in a research note on Thursday, September 28th. Zacks Investment Research raised shares of Colgate-Palmolive from a “hold” rating to a “buy” rating and set a $82.00 price target for the company in a research note on Monday. BidaskClub cut shares of Colgate-Palmolive from a “hold” rating to a “sell” rating in a research note on Saturday, June 24th. Macquarie assumed coverage on shares of Colgate-Palmolive in a research note on Thursday, September 14th. They issued a “neutral” rating and a $76.00 price target for the company. Finally, Royal Bank Of Canada reissued a “hold” rating and issued a $74.00 price target on shares of Colgate-Palmolive in a research note on Friday, June 30th. One analyst has rated the stock with a sell rating, thirteen have issued a hold rating and four have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $76.31.
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Shares of Colgate-Palmolive (CL) opened at 72.88 on Thursday. The firm has a 50-day moving average of $71.91 and a 200 day moving average of $73.18. The company has a market cap of $64.20 billion, a P/E ratio of 27.08 and a beta of 0.81. Colgate-Palmolive has a 52 week low of $63.43 and a 52 week high of $77.27.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 15th. Shareholders of record on Monday, October 23rd will be issued a dividend of $0.40 per share. The ex-dividend date is Friday, October 20th. This represents a $1.60 dividend on an annualized basis and a yield of 2.20%. Colgate-Palmolive’s dividend payout ratio (DPR) is presently 59.48%.
In other Colgate-Palmolive news, insider Patricia Verduin sold 3,833 shares of the stock in a transaction that occurred on Tuesday, August 15th. The shares were sold at an average price of $71.45, for a total transaction of $273,867.85. Following the sale, the insider now directly owns 53,173 shares in the company, valued at approximately $3,799,210.85. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, SVP John J. Huston sold 14,000 shares of the stock in a transaction that occurred on Thursday, August 10th. The stock was sold at an average price of $71.36, for a total transaction of $999,040.00. Following the sale, the senior vice president now owns 88,598 shares in the company, valued at $6,322,353.28. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 217,969 shares of company stock worth $15,693,933. 1.02% of the stock is owned by company insiders.
A number of institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its holdings in Colgate-Palmolive by 2.4% during the 2nd quarter. Vanguard Group Inc. now owns 67,875,384 shares of the company’s stock worth $5,031,602,000 after buying an additional 1,621,392 shares in the last quarter. Bank of New York Mellon Corp lifted its holdings in Colgate-Palmolive by 0.9% during the 1st quarter. Bank of New York Mellon Corp now owns 18,821,363 shares of the company’s stock worth $1,377,537,000 after buying an additional 169,798 shares in the last quarter. Renaissance Technologies LLC lifted its holdings in Colgate-Palmolive by 42.4% during the 2nd quarter. Renaissance Technologies LLC now owns 9,753,400 shares of the company’s stock worth $723,020,000 after buying an additional 2,903,800 shares in the last quarter. Arrowstreet Capital Limited Partnership lifted its holdings in Colgate-Palmolive by 25.3% during the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 6,854,323 shares of the company’s stock worth $508,111,000 after buying an additional 1,385,946 shares in the last quarter. Finally, First Eagle Investment Management LLC lifted its holdings in Colgate-Palmolive by 2.3% during the 2nd quarter. First Eagle Investment Management LLC now owns 4,891,131 shares of the company’s stock worth $362,580,000 after buying an additional 108,850 shares in the last quarter. Institutional investors own 73.10% 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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