Colgate-Palmolive (NYSE:CL) – Jefferies Financial Group upped their FY2019 earnings per share (EPS) estimates for shares of Colgate-Palmolive in a research report issued on Sunday, November 3rd. Jefferies Financial Group analyst K. Grundy now anticipates that the company will post earnings per share of $2.86 for the year, up from their previous forecast of $2.85.
Colgate-Palmolive (NYSE:CL) last announced its earnings results on Friday, November 1st. The company reported $0.71 EPS for the quarter, topping the consensus estimate of $0.70 by $0.01. The business had revenue of $3.93 billion during the quarter, compared to the consensus estimate of $3.95 billion. Colgate-Palmolive had a net margin of 15.04% and a return on equity of 6,492.71%. Colgate-Palmolive’s revenue was up 2.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.72 EPS.
Several other brokerages also recently commented on CL. Bank of America reduced their target price on shares of Colgate-Palmolive from $82.00 to $77.00 and set a “buy” rating for the company in a report on Monday. Citigroup lifted their target price on shares of Colgate-Palmolive from $77.00 to $79.00 and gave the stock a “neutral” rating in a report on Tuesday, August 20th. Morgan Stanley set a $71.00 target price on shares of Colgate-Palmolive and gave the stock a “hold” rating in a report on Monday. Zacks Investment Research downgraded shares of Colgate-Palmolive from a “hold” rating to a “sell” rating and set a $70.00 target price for the company. in a report on Monday. Finally, Piper Jaffray Companies initiated coverage on shares of Colgate-Palmolive in a report on Tuesday, August 13th. They issued an “overweight” rating for the company. Four analysts have rated the stock with a sell rating, eight have assigned a hold rating and six have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $72.57.
Shares of CL stock opened at $66.52 on Tuesday. The company has a market capitalization of $57.32 billion, a price-to-earnings ratio of 22.40, a PEG ratio of 4.40 and a beta of 0.73. The company has a 50-day simple moving average of $69.73 and a 200 day simple moving average of $71.60. Colgate-Palmolive has a 52 week low of $57.51 and a 52 week high of $76.41.
Institutional investors have recently modified their holdings of the company. Krane Funds Advisors LLC bought a new stake in shares of Colgate-Palmolive during the 2nd quarter worth approximately $25,000. Julex Capital Management LLC bought a new stake in shares of Colgate-Palmolive during the 3rd quarter worth approximately $27,000. Lipe & Dalton bought a new stake in shares of Colgate-Palmolive during the 2nd quarter worth approximately $29,000. Quest Capital Management Inc. ADV bought a new stake in shares of Colgate-Palmolive during the 3rd quarter worth approximately $31,000. Finally, Horan Capital Advisors LLC. bought a new stake in shares of Colgate-Palmolive during the 3rd quarter worth approximately $32,000. 76.09% of the stock is owned by institutional investors.
In other news, Chairman Ian M. Cook sold 17,750 shares of the company’s stock in a transaction that occurred on Wednesday, October 30th. The shares were sold at an average price of $68.30, for a total transaction of $1,212,325.00. Following the completion of the sale, the chairman now owns 995,075 shares of the company’s stock, valued at approximately $67,963,622.50. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Patricia Verduin sold 44,572 shares of the company’s stock in a transaction that occurred on Tuesday, August 13th. The stock was sold at an average price of $71.01, for a total transaction of $3,165,057.72. Following the sale, the insider now directly owns 93,296 shares of the company’s stock, valued at approximately $6,624,948.96. The disclosure for this sale can be found here. Insiders sold a total of 201,361 shares of company stock valued at $14,293,538 in the last three months. Insiders own 1.14% of the company’s stock.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Wednesday, October 23rd will be issued a $0.43 dividend. This represents a $1.72 dividend on an annualized basis and a yield of 2.59%. The ex-dividend date is Tuesday, October 22nd. Colgate-Palmolive’s dividend payout ratio is currently 57.91%.
Colgate-Palmolive Company Profile
Colgate-Palmolive Company, together with its subsidiaries, manufactures and sells consumer products worldwide. The company operates through two segments, Oral, Personal and Home Care; and Pet Nutrition. It offers oral care products, including toothpastes, toothbrushes, and mouthwashes, as well as pharmaceutical products for dentists and other oral health professionals; and personal care products, such as liquid hand soaps, bar soaps, shower gels, deodorants and antiperspirants, skin care products, and shampoos and conditioners.
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