Analysts Anticipate Colgate-Palmolive Company (CL) Will Post Quarterly Sales of $3.92 Billion
Equities analysts expect Colgate-Palmolive Company (NYSE:CL) to announce sales of $3.92 billion for the current fiscal quarter, according to Zacks. Eight analysts have made estimates for Colgate-Palmolive’s earnings. The highest sales estimate is $3.95 billion and the lowest is $3.89 billion. Colgate-Palmolive posted sales of $3.87 billion during the same quarter last year, which would indicate a positive year over year growth rate of 1.3%. The company is scheduled to report its next quarterly earnings results on Thursday, October 26th.
According to Zacks, analysts expect that Colgate-Palmolive will report full year sales of $3.92 billion for the current fiscal year, with estimates ranging from $15.33 billion to $15.58 billion. For the next year, analysts anticipate that the business will report sales of $16.00 billion per share, with estimates ranging from $15.74 billion to $16.26 billion. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side analysts that that provide coverage for Colgate-Palmolive.
Colgate-Palmolive (NYSE:CL) last issued its quarterly earnings results on Friday, July 21st. The company reported $0.72 EPS for the quarter, meeting analysts’ consensus estimates of $0.72. Colgate-Palmolive had a return on equity of 3,121.95% and a net margin of 15.83%. The firm had revenue of $3.83 billion during the quarter, compared to the consensus estimate of $3.89 billion. During the same quarter in the prior year, the business posted $0.70 earnings per share. Colgate-Palmolive’s revenue for the quarter was down .5% on a year-over-year basis.
Several research analysts have weighed in on CL shares. Bank of America Corporation increased their price target on shares of Colgate-Palmolive from $78.00 to $80.00 and gave the company a “buy” rating in a report on Wednesday, May 31st. Zacks Investment Research cut shares of Colgate-Palmolive from a “hold” rating to a “sell” rating in a report on Thursday, July 27th. Jefferies Group LLC reissued a “hold” rating and issued a $79.00 price target on shares of Colgate-Palmolive in a report on Thursday, August 24th. Vetr cut shares of Colgate-Palmolive from a “buy” rating to a “hold” rating and set a $76.67 price target on the stock. in a report on Wednesday, May 17th. Finally, Royal Bank Of Canada reissued a “hold” rating and issued a $74.00 price target on shares of Colgate-Palmolive in a report on Thursday, May 25th. Two research analysts have rated the stock with a sell rating, twelve have given a hold rating and two have given a buy rating to the company’s stock. Colgate-Palmolive presently has a consensus rating of “Hold” and a consensus price target of $75.82.
In related news, insider Patricia Verduin sold 3,833 shares of the stock in a transaction that occurred on Monday, July 17th. The shares were sold at an average price of $72.41, for a total transaction of $277,547.53. Following the sale, the insider now owns 53,022 shares in the company, valued at approximately $3,839,323.02. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Dennis J. Hickey sold 73,872 shares of the stock in a transaction that occurred on Thursday, August 3rd. The stock was sold at an average price of $71.80, for a total transaction of $5,304,009.60. Following the sale, the chief financial officer now owns 484,985 shares in the company, valued at approximately $34,821,923. The disclosure for this sale can be found here. Insiders have sold a total of 221,802 shares of company stock worth $15,983,976 in the last quarter. 1.02% of the stock is currently owned by company insiders.
Hedge funds have recently bought and sold shares of the company. Chickasaw Capital Management LLC raised its stake in Colgate-Palmolive by 218.3% in the first quarter. Chickasaw Capital Management LLC now owns 16,920 shares of the company’s stock valued at $1,238,000 after buying an additional 11,605 shares in the last quarter. Meritage Portfolio Management raised its stake in Colgate-Palmolive by 0.3% in the first quarter. Meritage Portfolio Management now owns 95,879 shares of the company’s stock valued at $7,017,000 after buying an additional 255 shares in the last quarter. ProShare Advisors LLC raised its stake in Colgate-Palmolive by 9.9% in the first quarter. ProShare Advisors LLC now owns 879,652 shares of the company’s stock valued at $64,382,000 after buying an additional 79,323 shares in the last quarter. Geneva Advisors LLC raised its stake in Colgate-Palmolive by 2.5% in the first quarter. Geneva Advisors LLC now owns 18,051 shares of the company’s stock valued at $1,321,000 after buying an additional 438 shares in the last quarter. Finally, Hartford Financial Management Inc. raised its stake in Colgate-Palmolive by 1.1% in the first quarter. Hartford Financial Management Inc. now owns 4,800 shares of the company’s stock valued at $351,000 after buying an additional 50 shares in the last quarter. Institutional investors and hedge funds own 73.15% of the company’s stock.
Colgate-Palmolive (NYSE CL) traded up 0.75% on Tuesday, reaching $71.43. The company’s stock had a trading volume of 1,003,587 shares. The firm has a market capitalization of $62.92 billion, a PE ratio of 26.54 and a beta of 0.80. Colgate-Palmolive has a 52 week low of $63.43 and a 52 week high of $77.27. The stock’s 50 day moving average is $71.99 and its 200-day moving average is $73.12.
The firm also recently announced a quarterly dividend, which was paid on Tuesday, August 15th. Stockholders of record on Tuesday, July 18th were issued a dividend of $0.40 per share. The ex-dividend date was Friday, July 14th. This represents a $1.60 annualized dividend and a dividend yield of 2.26%. Colgate-Palmolive’s dividend payout ratio is presently 59.48%.
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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