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

Colgate-Palmolive Company (NYSE:CL) declared a quarterly dividend on Thursday, June 11th. Stockholders of record on Monday, July 20th will be paid a dividend of 0.53 per share on Friday, August 14th. This represents a c) dividend on an annualized basis and a dividend yield of 2.4%. The ex-dividend date of this dividend is Monday, July 20th.

Colgate-Palmolive has increased its dividend payment 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. Equities analysts expect Colgate-Palmolive to earn $4.04 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 52.5%.

Colgate-Palmolive Price Performance

Shares of NYSE:CL opened at $89.48 on Friday. The company has a quick ratio of 0.67, a current ratio of 1.02 and a debt-to-equity ratio of 16.33. Colgate-Palmolive has a twelve month low of $74.54 and a twelve month high of $99.33. The stock’s 50 day moving average is $86.77 and its 200-day moving average is $86.23. The firm has a market capitalization of $71.60 billion, a price-to-earnings ratio of 34.82, a PEG ratio of 4.74 and a beta of 0.33.

Colgate-Palmolive (NYSE:CL) last issued its earnings results on Friday, May 1st. The company reported $0.97 earnings per share for the quarter, topping analysts’ consensus estimates of $0.94 by $0.03. Colgate-Palmolive had a return on equity of 386.76% and a net margin of 10.04%.The company had revenue of $5.32 billion for the quarter, compared to analyst estimates of $5.22 billion. During the same period in the prior year, the firm earned $0.91 earnings per share. Colgate-Palmolive’s revenue for the quarter was up 8.4% on a year-over-year basis. Sell-side analysts forecast that Colgate-Palmolive will post 3.81 EPS for the current fiscal year.

Analyst Ratings Changes

A number of brokerages have recently weighed in on CL. Piper Sandler lowered their target price on Colgate-Palmolive from $96.00 to $92.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 8th. Wall Street Zen lowered Colgate-Palmolive from a “buy” rating to a “hold” rating in a research report on Sunday, March 29th. Morgan Stanley reaffirmed an “overweight” rating on shares of Colgate-Palmolive in a research report on Monday, May 4th. Sanford C. Bernstein began coverage on Colgate-Palmolive in a research report on Thursday. They set a “market perform” rating and a $96.00 target price on the stock. Finally, Weiss Ratings raised Colgate-Palmolive from a “hold (c)” rating to a “hold (c+)” rating in a research report on Monday, May 4th. Twelve investment analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $95.88.

Colgate-Palmolive Company Profile

Colgate-Palmolive Company is a global consumer products company with a long history in household and personal care categories. The business traces its roots to the early 19th century and has evolved into a multinational manufacturer and marketer of everyday consumer goods focused on health, hygiene and home care.

The company’s core activities center on oral care, personal care, home care and pet nutrition. Its product portfolio includes toothpaste, toothbrushes and mouthwash in oral care; soaps, body washes and deodorants in personal care; dishwashing liquids, surface cleaners and other household products in home care; and scientifically formulated pet foods under its pet nutrition business.