Colgate-Palmolive Company (CL) Expected to Post Earnings of $0.73 Per Share
Wall Street analysts expect Colgate-Palmolive Company (NYSE:CL) to announce earnings of $0.73 per share for the current fiscal quarter, according to Zacks. Eight analysts have provided estimates for Colgate-Palmolive’s earnings. The lowest EPS estimate is $0.71 and the highest is $0.74. Colgate-Palmolive also reported earnings per share of $0.73 during the same quarter last year. The company is expected to issue its next earnings results before the market opens on Friday, October 27th.
According to Zacks, analysts expect that Colgate-Palmolive will report full-year earnings of $2.89 per share for the current financial year, with EPS estimates ranging from $2.86 to $2.95. For the next financial year, analysts expect that the company will post earnings of $3.11 per share, with EPS estimates ranging from $3.04 to $3.16. Zacks Investment Research’s EPS calculations are a mean average based on a survey of research firms that cover Colgate-Palmolive.
Colgate-Palmolive (NYSE:CL) last issued its quarterly earnings results on Friday, July 21st. The company reported $0.72 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.72. The company had revenue of $3.83 billion for the quarter, compared to the consensus estimate of $3.89 billion. Colgate-Palmolive had a return on equity of 3,121.95% and a net margin of 15.83%. Colgate-Palmolive’s revenue for the quarter was down .5% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.70 earnings per share.
A number of equities research analysts recently weighed in on CL shares. Macquarie started coverage on Colgate-Palmolive in a report on Thursday. They issued a “neutral” rating and a $76.00 price target on the stock. Jefferies Group LLC restated a “hold” rating and issued a $79.00 price target on shares of Colgate-Palmolive in a report on Thursday, August 24th. Zacks Investment Research cut Colgate-Palmolive from a “hold” rating to a “sell” rating in a report on Thursday, July 27th. Deutsche Bank AG restated a “hold” rating and issued a $75.00 price target on shares of Colgate-Palmolive in a report on Monday, July 24th. Finally, Wells Fargo & Company restated a “market perform” rating on shares of Colgate-Palmolive in a report on Monday, July 24th. Two investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and two have given a buy rating to the company’s stock. Colgate-Palmolive has an average rating of “Hold” and a consensus target price of $75.83.
In related news, insider Patricia Verduin sold 3,833 shares of the stock in a transaction on Monday, July 17th. The stock was sold at an average price of $72.41, for a total value of $277,547.53. Following the transaction, the insider now directly owns 53,022 shares of the company’s stock, valued at approximately $3,839,323.02. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, SVP John J. Huston sold 14,000 shares of the stock in a transaction on Thursday, August 10th. The stock was sold at an average price of $71.36, for a total value of $999,040.00. Following the completion of the transaction, the senior vice president now directly owns 88,598 shares in the company, valued at $6,322,353.28. The disclosure for this sale can be found here. Insiders sold a total of 217,969 shares of company stock worth $15,693,933 over the last ninety days. Corporate insiders own 1.02% of the company’s stock.
Several institutional investors and hedge funds have recently modified their holdings of the stock. Blue Chip Partners Inc. raised its position in shares of Colgate-Palmolive by 0.4% in the 1st quarter. Blue Chip Partners Inc. now owns 1,805 shares of the company’s stock worth $132,000 after buying an additional 8 shares during the period. Cue Financial Group Inc. raised its position in shares of Colgate-Palmolive by 0.3% in the 2nd quarter. Cue Financial Group Inc. now owns 4,854 shares of the company’s stock worth $360,000 after buying an additional 14 shares during the period. Cornerstone Financial Partners LLC raised its position in shares of Colgate-Palmolive by 0.5% in the 2nd quarter. Cornerstone Financial Partners LLC now owns 3,813 shares of the company’s stock worth $282,000 after buying an additional 19 shares during the period. M Holdings Securities Inc. raised its position in shares of Colgate-Palmolive by 0.4% in the 1st quarter. M Holdings Securities Inc. now owns 5,366 shares of the company’s stock worth $393,000 after buying an additional 21 shares during the period. Finally, AlphaMark Advisors LLC raised its position in shares of Colgate-Palmolive by 1.5% in the 2nd quarter. AlphaMark Advisors LLC now owns 1,698 shares of the company’s stock worth $126,000 after buying an additional 25 shares during the period. 73.16% of the stock is currently owned by institutional investors and hedge funds.
Colgate-Palmolive (NYSE CL) traded up 0.19% during trading on Thursday, hitting $72.28. The stock had a trading volume of 4,662,365 shares. The firm has a market cap of $63.67 billion, a P/E ratio of 26.87 and a beta of 0.80. The stock’s 50 day moving average price is $71.57 and its 200 day moving average price is $73.28. Colgate-Palmolive has a 12-month low of $63.43 and a 12-month high of $77.27.
Colgate-Palmolive Company Profile
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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