Colgate-Palmolive (CL) Set to Announce Earnings on Friday

Colgate-Palmolive (NYSE:CL) is set to release its earnings data before the market opens on Friday, April 26th. Analysts expect Colgate-Palmolive to post earnings of $0.82 per share for the quarter. Colgate-Palmolive has set its FY 2024 guidance at EPS.Persons interested in registering for the company’s earnings conference call can do so using this link.

Colgate-Palmolive (NYSE:CL) last posted its quarterly earnings data on Friday, January 26th. The company reported $0.87 earnings per share for the quarter, topping the consensus estimate of $0.85 by $0.02. Colgate-Palmolive had a return on equity of 509.75% and a net margin of 11.82%. The business had revenue of $4.95 billion during the quarter, compared to analysts’ expectations of $4.89 billion. During the same quarter in the previous year, the firm earned $0.77 EPS. The firm’s revenue was up 6.9% compared to the same quarter last year. On average, analysts expect Colgate-Palmolive to post $3 EPS for the current fiscal year and $4 EPS for the next fiscal year.

Colgate-Palmolive Trading Down 0.1 %

Shares of CL opened at $86.70 on Friday. Colgate-Palmolive has a 12-month low of $67.62 and a 12-month high of $90.37. The company has a quick ratio of 0.71, a current ratio of 1.11 and a debt-to-equity ratio of 8.59. The firm has a market capitalization of $71.27 billion, a price-to-earnings ratio of 31.19, a P/E/G ratio of 3.24 and a beta of 0.42. The stock’s 50-day moving average price is $87.02 and its 200 day moving average price is $80.67.

Colgate-Palmolive Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, May 15th. Investors of record on Monday, April 22nd will be paid a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 2.31%. This is a positive change from Colgate-Palmolive’s previous quarterly dividend of $0.48. The ex-dividend date is Friday, April 19th. Colgate-Palmolive’s payout ratio is currently 71.94%.

Insiders Place Their Bets

In other Colgate-Palmolive news, EVP Gregory Malcolm sold 8,930 shares of Colgate-Palmolive stock in a transaction dated Thursday, February 1st. The stock was sold at an average price of $85.35, for a total transaction of $762,175.50. Following the transaction, the executive vice president now directly owns 8,043 shares in the company, valued at $686,470.05. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other Colgate-Palmolive news, EVP Gregory Malcolm sold 8,930 shares of Colgate-Palmolive stock in a transaction dated Thursday, February 1st. The stock was sold at an average price of $85.35, for a total value of $762,175.50. Following the sale, the executive vice president now owns 8,043 shares of the company’s stock, valued at approximately $686,470.05. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Noel R. Wallace sold 50,000 shares of Colgate-Palmolive stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $83.15, for a total value of $4,157,500.00. Following the completion of the sale, the chief executive officer now directly owns 274,179 shares in the company, valued at approximately $22,797,983.85. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 232,371 shares of company stock worth $19,505,099. Corporate insiders own 0.34% of the company’s stock.

Institutional Trading of Colgate-Palmolive

Hedge funds and other institutional investors have recently modified their holdings of the company. Dimensional Fund Advisors LP increased its position in shares of Colgate-Palmolive by 4.0% in the first quarter. Dimensional Fund Advisors LP now owns 2,444,508 shares of the company’s stock valued at $185,376,000 after acquiring an additional 94,837 shares during the last quarter. Covestor Ltd grew its holdings in Colgate-Palmolive by 71.9% during the first quarter. Covestor Ltd now owns 2,451 shares of the company’s stock worth $186,000 after purchasing an additional 1,025 shares during the period. Mackenzie Financial Corp grew its holdings in Colgate-Palmolive by 8.5% during the first quarter. Mackenzie Financial Corp now owns 1,882,813 shares of the company’s stock worth $142,774,000 after purchasing an additional 146,936 shares during the period. First Western Trust Bank bought a new position in Colgate-Palmolive during the first quarter worth about $569,000. Finally, Wsfs Capital Management LLC bought a new position in Colgate-Palmolive during the first quarter worth about $288,000. Institutional investors and hedge funds own 80.41% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently issued reports on CL. TheStreet raised Colgate-Palmolive from a “c+” rating to a “b+” rating in a report on Friday, January 26th. Citigroup increased their target price on Colgate-Palmolive from $95.00 to $100.00 and gave the stock a “buy” rating in a report on Tuesday. Raymond James raised Colgate-Palmolive from a “market perform” rating to an “outperform” rating and set a $91.00 price target for the company in a report on Monday, January 29th. JPMorgan Chase & Co. raised their price target on Colgate-Palmolive from $88.00 to $90.00 and gave the company an “overweight” rating in a report on Thursday, January 18th. Finally, Stifel Nicolaus increased their price objective on Colgate-Palmolive from $89.00 to $94.00 and gave the company a “buy” rating in a research report on Wednesday, April 10th. Three analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $89.50.

About Colgate-Palmolive

Colgate-Palmolive Company, together with its subsidiaries, manufactures and sells consumer products in the United States and internationally. It operates through two segments: Oral, Personal and Home Care; and Pet Nutrition. The Oral, Personal and Home Care segment offers toothpaste, toothbrushes, mouthwash, bar and liquid hand soaps, shower gels, shampoos, conditioners, deodorants and antiperspirants, skin health products, dishwashing detergents, fabric conditioners, household cleaners, and other related items.