Zacks: Analysts Expect Colgate-Palmolive Company (CL) Will Announce Earnings of $0.66 Per Share
Wall Street analysts forecast that Colgate-Palmolive Company (NYSE:CL) will post earnings of $0.66 per share for the current fiscal quarter, according to Zacks Investment Research. Eight analysts have made estimates for Colgate-Palmolive Company’s earnings, with the highest EPS estimate coming in at $0.67 and the lowest estimate coming in at $0.64. Colgate-Palmolive Company reported earnings per share of $0.63 during the same quarter last year, which would indicate a positive year-over-year growth rate of 4.8%. The firm is scheduled to announce its next quarterly earnings results on Thursday, April 27th.
On average, analysts expect that Colgate-Palmolive Company will report full-year earnings of $2.91 per share for the current financial year, with EPS estimates ranging from $2.87 to $2.96. For the next financial year, analysts expect that the firm will report earnings of $3.17 per share, with EPS estimates ranging from $3.10 to $3.23. Zacks Investment Research’s EPS averages are an average based on a survey of research firms that cover Colgate-Palmolive Company.
Colgate-Palmolive Company (NYSE:CL) last released its quarterly earnings results on Friday, January 27th. The company reported $0.75 earnings per share for the quarter, meeting the consensus estimate of $0.75. The business had revenue of $3.72 billion for the quarter, compared to analysts’ expectations of $3.87 billion. Colgate-Palmolive Company had a net margin of 16.06% and a return on equity of 4,897.09%. The firm’s revenue for the quarter was down 4.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.73 earnings per share.
Several analysts have recently issued reports on the company. Jefferies Group LLC assumed coverage on Colgate-Palmolive Company in a report on Tuesday. They set a “hold” rating and a $78.00 price objective on the stock. Royal Bank of Canada reaffirmed a “hold” rating and set a $74.00 price objective on shares of Colgate-Palmolive Company in a report on Thursday, March 23rd. Zacks Investment Research raised Colgate-Palmolive Company from a “sell” rating to a “hold” rating in a report on Friday, March 24th. JPMorgan Chase & Co. assumed coverage on Colgate-Palmolive Company in a report on Tuesday, March 21st. They set a “neutral” rating and a $77.00 price objective on the stock. Finally, Citigroup Inc upped their price objective on Colgate-Palmolive Company from $70.00 to $75.00 and gave the stock a “neutral” rating in a report on Tuesday, March 21st. One analyst has rated the stock with a sell rating, thirteen have given a hold rating and four have assigned a buy rating to the company’s stock. Colgate-Palmolive Company currently has an average rating of “Hold” and an average price target of $75.00.
Colgate-Palmolive Company (NYSE:CL) traded up 0.41% during mid-day trading on Thursday, reaching $74.37. 3,914,461 shares of the company traded hands. Colgate-Palmolive Company has a 12-month low of $63.43 and a 12-month high of $75.38. The firm has a market capitalization of $65.66 billion, a P/E ratio of 27.34 and a beta of 0.70. The company’s 50 day moving average price is $73.61 and its 200 day moving average price is $69.63.
The company also recently declared a quarterly dividend, which will be paid on Monday, May 15th. Stockholders of record on Friday, April 21st will be given a dividend of $0.40 per share. This is an increase from Colgate-Palmolive Company’s previous quarterly dividend of $0.39. The ex-dividend date is Wednesday, April 19th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.15%. Colgate-Palmolive Company’s dividend payout ratio is presently 57.35%.
In other news, Director Stephen I. Sadove sold 8,000 shares of the stock in a transaction on Friday, February 3rd. The stock was sold at an average price of $66.00, for a total transaction of $528,000.00. Following the transaction, the director now owns 33,761 shares of the company’s stock, valued at approximately $2,228,226. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 1.05% of the stock is currently owned by corporate insiders.
Several institutional investors have recently bought and sold shares of CL. Norges Bank purchased a new position in Colgate-Palmolive Company during the fourth quarter worth about $455,526,000. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main purchased a new position in Colgate-Palmolive Company during the fourth quarter worth about $189,728,000. Russell Investments Group Ltd. purchased a new position in Colgate-Palmolive Company during the fourth quarter worth about $139,634,000. Renaissance Technologies LLC increased its position in Colgate-Palmolive Company by 23.4% in the fourth quarter. Renaissance Technologies LLC now owns 8,453,600 shares of the company’s stock worth $553,204,000 after buying an additional 1,605,600 shares during the last quarter. Finally, Asset Management One Co. Ltd. increased its position in Colgate-Palmolive Company by 1,744.0% in the fourth quarter. Asset Management One Co. Ltd. now owns 1,505,674 shares of the company’s stock worth $98,582,000 after buying an additional 1,424,021 shares during the last quarter. 73.24% of the stock is currently owned by institutional investors and hedge funds.
About Colgate-Palmolive Company
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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