Colgate-Palmolive Company (CL) to Issue Quarterly Dividend of $0.53 on May 15th

Colgate-Palmolive Company (NYSE:CL) announced a quarterly dividend on Thursday, March 12th. Stockholders of record on Monday, April 20th will be paid a dividend of 0.53 per share on Friday, May 15th. This represents a c) dividend on an annualized basis and a dividend yield of 2.5%. The ex-dividend date of this dividend is Monday, April 20th. This is a 1.9% increase from Colgate-Palmolive’s previous quarterly dividend of $0.52.

Colgate-Palmolive has raised its dividend payment by an average of 0.0%per year over the last three years and has raised its dividend every year for the last 63 years. Colgate-Palmolive has a dividend payout ratio of 54.1% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Colgate-Palmolive to earn $4.03 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 52.6%.

Colgate-Palmolive Price Performance

NYSE:CL opened at $85.83 on Friday. The stock has a market capitalization of $68.86 billion, a PE ratio of 32.76, a P/E/G ratio of 4.16 and a beta of 0.34. Colgate-Palmolive has a 1-year low of $74.54 and a 1-year high of $99.33. The firm has a fifty day simple moving average of $89.99 and a 200 day simple moving average of $83.71. The company has a current ratio of 0.83, a quick ratio of 0.54 and a debt-to-equity ratio of 18.82.

Colgate-Palmolive (NYSE:CL) last posted its quarterly earnings results on Friday, January 30th. The company reported $0.95 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.91 by $0.04. Colgate-Palmolive had a net margin of 10.45% and a return on equity of 353.72%. The firm had revenue of $5.23 billion for the quarter, compared to analyst estimates of $5.13 billion. During the same period in the prior year, the firm posted $0.91 earnings per share. The company’s quarterly revenue was up 5.8% compared to the same quarter last year. On average, research analysts expect that Colgate-Palmolive will post 3.75 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the company. Citigroup boosted their price target on Colgate-Palmolive from $95.00 to $105.00 and gave the stock a “buy” rating in a research report on Monday, February 2nd. Piper Sandler cut their price target on Colgate-Palmolive from $96.00 to $92.00 and set an “overweight” rating for the company in a report on Wednesday, April 8th. Rothschild & Co Redburn set a $93.00 price objective on shares of Colgate-Palmolive in a report on Friday, February 13th. Wells Fargo & Company decreased their price target on shares of Colgate-Palmolive from $100.00 to $92.00 and set an “equal weight” rating on the stock in a research note on Wednesday, April 8th. Finally, Deutsche Bank Aktiengesellschaft upgraded shares of Colgate-Palmolive from a “hold” rating to a “buy” rating and raised their price objective for the stock from $90.00 to $98.00 in a research report on Monday, March 30th. Eleven research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $95.44.

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.