Colgate-Palmolive Company (CL) Expected to Announce Quarterly Sales of $3.93 Billion
Equities research analysts expect Colgate-Palmolive Company (NYSE:CL) to report $3.93 billion in sales for the current quarter, Zacks reports. Seven analysts have provided estimates for Colgate-Palmolive’s earnings. The lowest sales estimate is $3.89 billion and the highest is $4.00 billion. Colgate-Palmolive posted sales of $3.87 billion during the same quarter last year, which suggests a positive year over year growth rate of 1.6%. The firm is expected to report its next earnings results before the market opens on Friday, October 27th.
On average, analysts expect that Colgate-Palmolive will report full-year sales of $3.93 billion for the current fiscal year, with estimates ranging from $15.33 billion to $15.65 billion. For the next fiscal year, analysts forecast that the company will report sales of $16.08 billion per share, with estimates ranging from $15.85 billion to $16.40 billion. Zacks’ sales averages are a mean average based on a survey of research firms 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 for the quarter, hitting the Zacks’ consensus estimate 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 analysts’ expectations of $3.89 billion. During the same period in the previous year, the company earned $0.70 earnings per share. Colgate-Palmolive’s revenue for the quarter was down .5% on a year-over-year basis.
CL has been the subject of several analyst reports. Zacks Investment Research raised shares of Colgate-Palmolive from a “hold” rating to a “buy” rating and set a $83.00 target price for the company in a research note on Tuesday, July 4th. SunTrust Banks, Inc. raised shares of Colgate-Palmolive from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $65.00 to $85.00 in a research report on Wednesday, October 11th. Jefferies Group LLC lifted their price objective on shares of Colgate-Palmolive from $76.00 to $77.00 and gave the stock a “hold” rating in a research report on Thursday, July 6th. Royal Bank Of Canada reaffirmed a “hold” rating and set a $74.00 price objective on shares of Colgate-Palmolive in a research report on Friday, June 30th. Finally, Deutsche Bank AG reaffirmed a “hold” rating and set a $75.00 price objective on shares of Colgate-Palmolive in a research report on Monday, July 24th. One equities research analyst has rated the stock with a sell rating, fourteen have issued a hold rating and five have assigned a buy rating to the stock. Colgate-Palmolive presently has an average rating of “Hold” and a consensus target price of $76.79.
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Shares of Colgate-Palmolive (NYSE:CL) traded down 0.621% during mid-day trading on Tuesday, hitting $71.742. 1,667,670 shares of the stock were exchanged. 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 price of $72.86 and a 200 day moving average price of $73.21. The company has a market capitalization of $63.19 billion, a PE ratio of 26.660 and a beta of 0.81.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 15th. Stockholders of record on Monday, October 23rd will be issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.22%. The ex-dividend date is Friday, October 20th. Colgate-Palmolive’s dividend payout ratio is currently 59.48%.
In related news, insider Patricia Verduin sold 3,833 shares of the business’s stock in a transaction dated Tuesday, August 15th. The stock was sold at an average price of $71.45, for a total value of $273,867.85. Following the completion of the transaction, the insider now owns 53,173 shares of the company’s stock, valued at $3,799,210.85. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, COO Justin Skala sold 74,374 shares of the business’s stock in a transaction dated 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 transaction, the chief operating officer now directly owns 97,177 shares of the company’s stock, valued at approximately $7,046,304.27. The disclosure for this sale can be found here. Insiders have sold 214,136 shares of company stock valued at $15,416,385 in the last three months. Insiders own 1.02% of the company’s stock.
A number of hedge funds have recently bought and sold shares of CL. Waldron LP acquired a new position in Colgate-Palmolive in the first quarter valued at about $238,000. Carl Domino Inc raised its stake in Colgate-Palmolive by 2.9% in the first quarter. Carl Domino Inc now owns 15,819 shares of the company’s stock valued at $1,158,000 after purchasing an additional 449 shares in the last quarter. TIAA CREF Trust Co. FSB MO raised its stake in Colgate-Palmolive by 2.9% in the first quarter. TIAA CREF Trust Co. FSB MO now owns 86,652 shares of the company’s stock valued at $6,342,000 after purchasing an additional 2,423 shares in the last quarter. Henderson Group PLC raised its stake in Colgate-Palmolive by 8.5% in the first quarter. Henderson Group PLC now owns 440,631 shares of the company’s stock valued at $32,252,000 after purchasing an additional 34,661 shares in the last quarter. Finally, HPM Partners LLC acquired a new position in Colgate-Palmolive in the first quarter valued at about $320,000. 73.02% of the stock is owned by institutional investors and hedge funds.
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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