Equities research analysts predict that Colgate-Palmolive (NYSE:CL) will post earnings of $0.73 per share for the current quarter, Zacks reports. Six analysts have issued estimates for Colgate-Palmolive’s earnings. The lowest EPS estimate is $0.72 and the highest is $0.75. Colgate-Palmolive also reported earnings of $0.73 per share in the same quarter last year. The business is scheduled to issue its next earnings report on Friday, October 26th.
According to Zacks, analysts expect that Colgate-Palmolive will report full-year earnings of $3.02 per share for the current financial year, with EPS estimates ranging from $3.00 to $3.04. For the next year, analysts forecast that the firm will post earnings of $3.22 per share, with EPS estimates ranging from $3.11 to $3.34. Zacks Investment Research’s EPS averages are a mean average based on a survey of sell-side analysts that follow Colgate-Palmolive.
Colgate-Palmolive (NYSE:CL) last released its quarterly earnings data on Friday, July 27th. The company reported $0.77 EPS for the quarter, meeting the consensus estimate of $0.77. Colgate-Palmolive had a net margin of 13.97% and a return on equity of 2,494.79%. The business had revenue of $3.89 billion during the quarter, compared to the consensus estimate of $3.91 billion. During the same quarter in the prior year, the firm earned $0.72 EPS. The business’s revenue was up 1.6% on a year-over-year basis.
Several research firms have commented on CL. ValuEngine raised shares of Colgate-Palmolive from a “sell” rating to a “hold” rating in a report on Tuesday, July 31st. Citigroup dropped their price objective on shares of Colgate-Palmolive from $70.00 to $68.00 and set a “neutral” rating for the company in a report on Tuesday, July 31st. Barclays set a $64.00 price objective on shares of Colgate-Palmolive and gave the company a “hold” rating in a report on Monday, July 30th. Macquarie downgraded shares of Colgate-Palmolive from an “outperform” rating to a “neutral” rating and dropped their price objective for the company from $74.00 to $65.00 in a report on Monday, July 30th. Finally, Wells Fargo & Co reissued a “hold” rating and set a $64.00 price objective on shares of Colgate-Palmolive in a report on Friday, July 27th. Three equities research analysts have rated the stock with a sell rating, twelve have given a hold rating and three have issued a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus target price of $72.14.
In other news, Vice Chairman Dennis J. Hickey sold 120,000 shares of the company’s stock in a transaction dated Tuesday, August 14th. The shares were sold at an average price of $65.72, for a total transaction of $7,886,400.00. Following the sale, the insider now directly owns 202,414 shares in the company, valued at approximately $13,302,648.08. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Daniel B. Marsili sold 19,500 shares of the stock in a transaction dated Friday, June 15th. The stock was sold at an average price of $63.25, for a total transaction of $1,233,375.00. Following the completion of the sale, the insider now directly owns 78,065 shares in the company, valued at $4,937,611.25. The disclosure for this sale can be found here. Insiders have sold a total of 433,302 shares of company stock worth $28,518,498 over the last 90 days. Corporate insiders own 1.02% of the company’s stock.
Institutional investors have recently bought and sold shares of the stock. Rainier Group Investment Advisory LLC purchased a new stake in Colgate-Palmolive in the 1st quarter worth about $107,000. Quadrant Capital Group LLC raised its position in Colgate-Palmolive by 142.4% in the 1st quarter. Quadrant Capital Group LLC now owns 1,602 shares of the company’s stock worth $108,000 after purchasing an additional 941 shares during the period. CSat Investment Advisory L.P. purchased a new stake in Colgate-Palmolive in the 2nd quarter worth about $111,000. Centerpoint Advisors LLC purchased a new stake in Colgate-Palmolive in the 1st quarter worth about $112,000. Finally, Princeton Capital Management LLC purchased a new stake in Colgate-Palmolive in the 1st quarter worth about $117,000. 74.74% of the stock is currently owned by institutional investors.
Shares of CL traded up $0.01 during midday trading on Friday, hitting $67.01. 2,980,200 shares of the company traded hands, compared to its average volume of 4,048,337. Colgate-Palmolive has a 52 week low of $61.28 and a 52 week high of $77.91. The company has a market capitalization of $57.78 billion, a PE ratio of 23.34, a price-to-earnings-growth ratio of 2.98 and a beta of 0.72. The company has a quick ratio of 0.74, a current ratio of 1.06 and a debt-to-equity ratio of -34.49.
The firm also recently announced a quarterly dividend, which was paid on Wednesday, August 15th. Stockholders of record on Wednesday, July 18th were given a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a dividend yield of 2.51%. The ex-dividend date was Tuesday, July 17th. Colgate-Palmolive’s dividend payout ratio is 58.54%.
Colgate-Palmolive announced that its Board of Directors has initiated a stock repurchase plan on Monday, June 18th that allows the company to buyback $5.00 billion in outstanding shares. This buyback authorization allows the company to repurchase up to 9% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s management believes its shares are undervalued.
Colgate-Palmolive Company Profile
Colgate-Palmolive Company, together with its subsidiaries, manufactures and sells consumer products worldwide. It operates through two segments, Oral, Personal and Home Care; and Pet Nutrition. The company offers oral care products, including toothpastes, toothbrushes, and mouthwashes, as well as pharmaceutical products for dentists and other oral health professionals; personal care products comprising bar and liquid hand soaps, shower gels, shampoos, conditioners, and deodorants and antiperspirants; and home care products, such as laundry and dishwashing detergents, fabric conditioners, household cleaners, and other related products.
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