Colgate-Palmolive (NYSE:CL) announced a quarterly dividend on Thursday, January 10th, RTT News reports. Stockholders of record on Wednesday, January 23rd will be given a dividend of 0.42 per share on Friday, February 15th. This represents a $1.68 annualized dividend and a dividend yield of 2.72%.
Colgate-Palmolive has increased its dividend payment by an average of 3.4% annually over the last three years and has increased its dividend annually for the last 55 consecutive years. Colgate-Palmolive has a dividend payout ratio of 55.6% meaning its dividend is sufficiently covered by earnings. Research analysts expect Colgate-Palmolive to earn $3.03 per share next year, which means the company should continue to be able to cover its $1.68 annual dividend with an expected future payout ratio of 55.4%.
Shares of NYSE CL opened at $61.82 on Friday. Colgate-Palmolive has a 1-year low of $57.41 and a 1-year high of $77.91. The firm has a market cap of $53.17 billion, a P/E ratio of 21.54, a P/E/G ratio of 2.94 and a beta of 0.75.
Colgate-Palmolive (NYSE:CL) last issued its quarterly earnings results on Friday, October 26th. The company reported $0.72 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.72. Colgate-Palmolive had a return on equity of 12,004.60% and a net margin of 13.55%. The firm had revenue of $3.85 billion during the quarter, compared to the consensus estimate of $3.89 billion. During the same period last year, the company earned $0.73 earnings per share. The company’s revenue for the quarter was down 3.2% on a year-over-year basis. Analysts anticipate that Colgate-Palmolive will post 2.96 EPS for the current year.
Several brokerages recently weighed in on CL. Argus reaffirmed a “buy” rating and set a $75.00 price target (up from $72.00) on shares of Colgate-Palmolive in a report on Tuesday, September 18th. Zacks Investment Research raised Colgate-Palmolive from a “sell” rating to a “hold” rating in a report on Tuesday, September 18th. Atlantic Securities started coverage on Colgate-Palmolive in a report on Thursday, September 20th. They set a “neutral” rating and a $71.00 price target for the company. SunTrust Banks cut Colgate-Palmolive from a “buy” rating to a “hold” rating and cut their price objective for the stock from $80.00 to $65.00 in a research report on Friday, October 26th. Finally, UBS Group set a $71.00 price objective on Colgate-Palmolive and gave the stock a “buy” rating in a research report on Wednesday, October 17th. Two investment analysts have rated the stock with a sell rating, twelve have given a hold rating and four have issued a buy rating to the company. The company currently has an average rating of “Hold” and an average target price of $67.71.
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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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