SunTrust Banks Brokers Lift Earnings Estimates for Colgate-Palmolive Company (CL)
Colgate-Palmolive Company (NYSE:CL) – Equities research analysts at SunTrust Banks raised their Q3 2018 earnings per share (EPS) estimates for Colgate-Palmolive in a report issued on Wednesday. SunTrust Banks analyst W. Chappell now forecasts that the company will post earnings per share of $0.81 for the quarter, up from their previous forecast of $0.80. SunTrust Banks currently has a “Buy” rating on the stock. SunTrust Banks also issued estimates for Colgate-Palmolive’s Q4 2018 earnings at $0.84 EPS, FY2018 earnings at $3.15 EPS and FY2019 earnings at $3.48 EPS.
Colgate-Palmolive (NYSE:CL) last issued its earnings results on Friday, July 21st. The company reported $0.72 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.72. The company had revenue of $3.83 billion during the quarter, compared to analyst estimates of $3.89 billion. Colgate-Palmolive had a net margin of 15.83% and a return on equity of 3,121.95%. The company’s revenue for the quarter was down .5% on a year-over-year basis. During the same quarter last year, the business posted $0.70 EPS.
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Several other equities research analysts also recently issued reports on CL. Jefferies Group LLC reissued a “hold” rating and set a $79.00 price objective on shares of Colgate-Palmolive in a research report 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 objective for the company in a research report on Monday, October 2nd. Royal Bank Of Canada reissued a “hold” rating and set a $74.00 price objective on shares of Colgate-Palmolive in a research report on Sunday. BidaskClub downgraded shares of Colgate-Palmolive from a “hold” rating to a “sell” rating in a research report on Saturday, June 24th. Finally, Macquarie began coverage on shares of Colgate-Palmolive in a report on Thursday, September 14th. They set a “neutral” rating and a $76.00 target price for the company. One equities research analyst has rated the stock with a sell rating, thirteen have given a hold rating and five have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $76.31.
Shares of Colgate-Palmolive (CL) traded up 0.33% during midday trading on Thursday, hitting $74.98. 1,322,102 shares of the company’s stock were exchanged. Colgate-Palmolive has a 52 week low of $63.43 and a 52 week high of $77.27. The firm has a market cap of $66.05 billion, a price-to-earnings ratio of 27.86 and a beta of 0.81. The company has a 50-day moving average of $72.15 and a 200-day moving average of $73.16.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, November 15th. Shareholders of record on Monday, October 23rd will be paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 2.14%. The ex-dividend date of this dividend is Friday, October 20th. Colgate-Palmolive’s dividend payout ratio is currently 59.48%.
In other Colgate-Palmolive news, COO Justin Skala sold 74,374 shares of the stock in a transaction on Thursday, July 27th. The shares were sold at an average price of $72.51, for a total value of $5,392,858.74. Following the completion of the sale, the chief operating officer now owns 97,177 shares in the company, valued at $7,046,304.27. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CFO Dennis J. Hickey sold 73,872 shares of the stock in a transaction on Thursday, August 3rd. The shares were sold at an average price of $71.80, for a total transaction of $5,304,009.60. Following the completion of the sale, the chief financial officer now owns 484,985 shares of the company’s stock, valued at approximately $34,821,923. The disclosure for this sale can be found here. In the last quarter, insiders sold 217,969 shares of company stock valued at $15,693,933. Corporate insiders own 1.02% of the company’s stock.
A number of hedge funds have recently made changes to their positions in CL. Renaissance Technologies LLC lifted its stake in Colgate-Palmolive by 42.4% in the second quarter. Renaissance Technologies LLC now owns 9,753,400 shares of the company’s stock valued at $723,020,000 after acquiring an additional 2,903,800 shares during the last quarter. TIAA CREF Investment Management LLC lifted its stake in Colgate-Palmolive by 84.2% in the first quarter. TIAA CREF Investment Management LLC now owns 4,554,989 shares of the company’s stock valued at $333,380,000 after acquiring an additional 2,082,262 shares during the last quarter. Vanguard Group Inc. lifted its stake in Colgate-Palmolive by 2.4% in the second quarter. Vanguard Group Inc. now owns 67,875,384 shares of the company’s stock valued at $5,031,602,000 after acquiring an additional 1,621,392 shares during the last quarter. Arrowstreet Capital Limited Partnership lifted its stake in Colgate-Palmolive by 25.3% in the second quarter. Arrowstreet Capital Limited Partnership now owns 6,854,323 shares of the company’s stock valued at $508,111,000 after acquiring an additional 1,385,946 shares during the last quarter. Finally, Parametric Portfolio Associates LLC lifted its stake in Colgate-Palmolive by 77.8% in the second quarter. Parametric Portfolio Associates LLC now owns 3,092,033 shares of the company’s stock valued at $229,212,000 after acquiring an additional 1,353,177 shares during the last quarter. Hedge funds and other institutional investors own 73.09% 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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