Colgate-Palmolive Company (NYSE:CL) Receives Consensus Recommendation of “Moderate Buy” from Brokerages

Shares of Colgate-Palmolive Company (NYSE:CL) have been given an average rating of “Moderate Buy” by the fifteen brokerages that are covering the firm, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, five have assigned a hold recommendation and nine have assigned a buy recommendation to the company. The average 12-month price objective among brokerages that have issued a report on the stock in the last year is $89.8667.

A number of brokerages have weighed in on CL. Evercore ISI decreased their target price on Colgate-Palmolive from $100.00 to $94.00 and set an “outperform” rating for the company in a research report on Monday, November 3rd. Weiss Ratings restated a “hold (c)” rating on shares of Colgate-Palmolive in a research report on Wednesday, October 8th. Deutsche Bank Aktiengesellschaft set a $86.00 target price on shares of Colgate-Palmolive in a report on Friday, October 10th. The Goldman Sachs Group decreased their target price on shares of Colgate-Palmolive from $106.00 to $91.00 and set a “buy” rating for the company in a research note on Thursday, October 2nd. Finally, Morgan Stanley dropped their price target on Colgate-Palmolive from $96.00 to $87.00 and set an “overweight” rating on the stock in a research note on Monday, November 3rd.

Colgate-Palmolive Stock Performance

CL stock opened at $78.57 on Friday. The stock’s 50 day simple moving average is $79.42 and its 200 day simple moving average is $85.39. The company has a current ratio of 0.89, a quick ratio of 0.57 and a debt-to-equity ratio of 6.79. Colgate-Palmolive has a 12-month low of $74.54 and a 12-month high of $100.18. The stock has a market capitalization of $63.33 billion, a PE ratio of 22.07, a price-to-earnings-growth ratio of 4.44 and a beta of 0.35.

Colgate-Palmolive (NYSE:CL) last posted its quarterly earnings results on Friday, October 31st. The company reported $0.91 earnings per share for the quarter, topping the consensus estimate of $0.89 by $0.02. The firm had revenue of $5.13 billion during the quarter, compared to analysts’ expectations of $5.17 billion. Colgate-Palmolive had a return on equity of 377.63% and a net margin of 14.55%.The company’s revenue was up 1.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.91 earnings per share. As a group, research analysts forecast that Colgate-Palmolive will post 3.75 earnings per share for the current fiscal year.

Colgate-Palmolive Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, November 14th. Shareholders of record on Friday, October 17th will be given a $0.52 dividend. This represents a $2.08 annualized dividend and a yield of 2.6%. The ex-dividend date of this dividend is Friday, October 17th. Colgate-Palmolive’s dividend payout ratio (DPR) is presently 58.26%.

Hedge Funds Weigh In On Colgate-Palmolive

Several institutional investors have recently made changes to their positions in the business. Westside Investment Management Inc. raised its position in Colgate-Palmolive by 85.5% in the second quarter. Westside Investment Management Inc. now owns 282 shares of the company’s stock worth $26,000 after acquiring an additional 130 shares during the period. Cornerstone Planning Group LLC increased its stake in shares of Colgate-Palmolive by 1,913.3% in the 1st quarter. Cornerstone Planning Group LLC now owns 302 shares of the company’s stock worth $28,000 after purchasing an additional 287 shares in the last quarter. Saudi Central Bank bought a new position in Colgate-Palmolive in the 1st quarter worth $29,000. Copia Wealth Management purchased a new position in Colgate-Palmolive during the third quarter valued at $29,000. Finally, Vermillion & White Wealth Management Group LLC grew its holdings in Colgate-Palmolive by 86.1% during the second quarter. Vermillion & White Wealth Management Group LLC now owns 335 shares of the company’s stock valued at $30,000 after purchasing an additional 155 shares during the period. Institutional investors own 80.41% of the company’s stock.

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.