Colgate-Palmolive Company (NYSE:CL) to Issue $0.53 Quarterly Dividend

Colgate-Palmolive Company (NYSE:CL) declared a quarterly dividend on Thursday, September 17th. Shareholders of record on Tuesday, October 20th will be given a dividend of 0.53 per share on Friday, November 13th. This represents a c) dividend on an annualized basis and a dividend yield of 2.4%. The ex-dividend date of this dividend is Tuesday, October 20th.

Colgate-Palmolive has increased its dividend by an average of 0.0%annually over the last three years and has raised its dividend annually for the last 63 consecutive years. Colgate-Palmolive has a dividend payout ratio of 54.1% meaning its dividend is sufficiently covered by earnings. Research analysts expect Colgate-Palmolive to earn $4.08 per share next year, which means the company should continue to be able to cover its $2.12 annual dividend with an expected future payout ratio of 52.0%.

Colgate-Palmolive Stock Up 0.7%

Shares of CL opened at $87.67 on Friday. The company has a market capitalization of $69.88 billion, a price-to-earnings ratio of 34.79, a PEG ratio of 4.06 and a beta of 0.33. Colgate-Palmolive has a 52 week low of $74.54 and a 52 week high of $99.33. The stock’s 50-day moving average price is $90.88 and its 200-day moving average price is $89.27. The company has a quick ratio of 0.67, a current ratio of 1.03 and a debt-to-equity ratio of 13.82.

Colgate-Palmolive (NYSE:CL) last announced its quarterly earnings results on Friday, July 31st. The company reported $0.99 earnings per share for the quarter, beating the consensus estimate of $0.95 by $0.04. Colgate-Palmolive had a return on equity of 464.63% and a net margin of 9.68%.The company had revenue of $5.36 billion during the quarter, compared to analysts’ expectations of $5.36 billion. During the same period last year, the business earned $0.92 earnings per share. Colgate-Palmolive’s quarterly revenue was up 4.9% on a year-over-year basis. On average, sell-side analysts predict that Colgate-Palmolive will post 3.87 EPS for the current year.

Analysts Set New Price Targets

A number of analysts recently issued reports on the stock. Wells Fargo & Company increased their price target on shares of Colgate-Palmolive from $92.00 to $95.00 and gave the stock an “equal weight” rating in a report on Wednesday, July 8th. Jefferies Financial Group reiterated a “hold” rating on shares of Colgate-Palmolive in a research report on Monday, August 3rd. Sanford C. Bernstein reissued a “market perform” rating on shares of Colgate-Palmolive in a research note on Thursday, August 13th. Citigroup lifted their price target on Colgate-Palmolive from $105.00 to $110.00 and gave the company a “buy” rating in a research note on Tuesday, July 14th. Finally, Barclays upped their price target on Colgate-Palmolive from $80.00 to $87.00 and gave the stock an “equal weight” rating in a report on Tuesday, July 21st. Thirteen equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $99.00.

About Colgate-Palmolive

Colgate-Palmolive Company (NYSE:CL) is a global consumer products company focused on oral care, personal care, home care and pet nutrition. Its products are sold in more than 200 countries and territories through retail stores, e-commerce channels and professional networks.

The company’s portfolio includes Colgate toothpaste, toothbrushes and mouthwashes; Palmolive and Softsoap personal care products; Ajax and other household cleaning products; and Hill’s Science Diet and Prescription Diet pet foods.