$3.79 Billion in Sales Expected for Colgate-Palmolive (CL) This Quarter

Brokerages predict that Colgate-Palmolive (NYSE:CL) will post $3.79 billion in sales for the current quarter, Zacks reports. Six analysts have made estimates for Colgate-Palmolive’s earnings. The lowest sales estimate is $3.75 billion and the highest is $3.83 billion. Colgate-Palmolive posted sales of $3.89 billion during the same quarter last year, which suggests a negative year over year growth rate of 2.6%. The company is expected to announce its next earnings report on Friday, January 25th.

On average, analysts expect that Colgate-Palmolive will report full year sales of $15.52 billion for the current year, with estimates ranging from $15.48 billion to $15.57 billion. For the next financial year, analysts forecast that the firm will report sales of $15.43 billion, with estimates ranging from $15.31 billion to $15.66 billion. Zacks’ sales calculations are an average based on a survey of sell-side analysts that cover Colgate-Palmolive.

Colgate-Palmolive (NYSE:CL) last released its quarterly earnings data on Friday, October 26th. The company reported $0.72 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.72. Colgate-Palmolive had a net margin of 13.55% and a return on equity of 12,004.60%. The company had revenue of $3.85 billion during the quarter, compared to the consensus estimate of $3.89 billion. During the same quarter in the prior year, the firm posted $0.73 earnings per share. Colgate-Palmolive’s revenue for the quarter was down 3.2% on a year-over-year basis.

Several brokerages have recently weighed in on CL. Morgan Stanley decreased their target price on shares of Colgate-Palmolive from $65.00 to $60.00 and set a “hold” rating for the company in a research note on Tuesday, October 30th. Argus decreased their target price on shares of Colgate-Palmolive from $75.00 to $70.00 and set a “buy” rating for the company in a research note on Tuesday, October 30th. Zacks Investment Research downgraded shares of Colgate-Palmolive from a “hold” rating to a “sell” rating in a research note on Monday, October 29th. Wells Fargo & Co decreased their target price on shares of Colgate-Palmolive from $62.00 to $58.00 and set a “market perform” rating for the company in a research note on Monday, October 29th. Finally, Citigroup decreased their target price on shares of Colgate-Palmolive from $68.00 to $63.00 and set a “hold” rating for the company in a research note on Monday, October 29th. Four investment analysts have rated the stock with a sell rating, thirteen have issued a hold rating and two have issued a buy rating to the company’s stock. Colgate-Palmolive currently has a consensus rating of “Hold” and a consensus price target of $68.06.

NYSE CL traded down $0.14 during trading hours on Friday, hitting $61.78. The company had a trading volume of 1,367,663 shares, compared to its average volume of 6,196,669. The company has a debt-to-equity ratio of 64.85, a current ratio of 1.11 and a quick ratio of 0.77. Colgate-Palmolive has a 1-year low of $57.41 and a 1-year high of $77.91. The company has a market capitalization of $53.70 billion, a PE ratio of 21.53, a P/E/G ratio of 3.04 and a beta of 0.75.

The company also recently declared a quarterly dividend, which was paid on Thursday, November 15th. Investors of record on Friday, October 19th were issued a dividend of $0.42 per share. The ex-dividend date was Thursday, October 18th. This represents a $1.68 annualized dividend and a yield of 2.72%. Colgate-Palmolive’s dividend payout ratio is currently 58.54%.

In other Colgate-Palmolive news, VP Philip G. Shotts sold 462 shares of the stock in a transaction dated Tuesday, September 11th. The shares were sold at an average price of $67.05, for a total value of $30,977.10. Following the completion of the transaction, the vice president now directly owns 41,250 shares of the company’s stock, valued at $2,765,812.50. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CFO Henning I. Jakobsen sold 1,015 shares of the stock in a transaction dated Tuesday, September 11th. The shares were sold at an average price of $67.05, for a total transaction of $68,055.75. Following the completion of the transaction, the chief financial officer now directly owns 36,193 shares of the company’s stock, valued at $2,426,740.65. The disclosure for this sale can be found here. Corporate insiders own 1.02% of the company’s stock.

A number of institutional investors have recently modified their holdings of the business. Palisade Asset Management LLC boosted its position in Colgate-Palmolive by 0.6% during the third quarter. Palisade Asset Management LLC now owns 141,610 shares of the company’s stock worth $9,481,000 after acquiring an additional 795 shares during the last quarter. DF Dent & Co. Inc. boosted its holdings in shares of Colgate-Palmolive by 7.1% in the 2nd quarter. DF Dent & Co. Inc. now owns 12,125 shares of the company’s stock valued at $786,000 after purchasing an additional 800 shares during the last quarter. Hugh Johnson Advisors LLC boosted its holdings in shares of Colgate-Palmolive by 8.0% in the 2nd quarter. Hugh Johnson Advisors LLC now owns 10,861 shares of the company’s stock valued at $704,000 after purchasing an additional 801 shares during the last quarter. West Oak Capital LLC boosted its holdings in shares of Colgate-Palmolive by 3.2% in the 3rd quarter. West Oak Capital LLC now owns 27,049 shares of the company’s stock valued at $1,811,000 after purchasing an additional 830 shares during the last quarter. Finally, WEALTHFRONT Corp boosted its holdings in shares of Colgate-Palmolive by 2.8% in the 3rd quarter. WEALTHFRONT Corp now owns 30,908 shares of the company’s stock valued at $2,069,000 after purchasing an additional 846 shares during the last quarter. 74.71% of the stock is owned by institutional investors.

About Colgate-Palmolive

Colgate-Palmolive Company, together with its subsidiaries, manufactures and sells consumer products worldwide. It operates through two segments, Oral, Personal and Home Care; and Pet Nutrition. The company offers oral care products, including toothpastes, toothbrushes, and mouthwashes, as well as pharmaceutical products for dentists and other oral health professionals; personal care products comprising bar and liquid hand soaps, shower gels, shampoos, conditioners, and deodorants and antiperspirants; and home care products, such as laundry and dishwashing detergents, fabric conditioners, household cleaners, and other related products.

Featured Story: What is dollar cost averaging (DCA)?

Get a free copy of the Zacks research report on Colgate-Palmolive (CL)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for Colgate-Palmolive (NYSE:CL)

Receive News & Ratings for Colgate-Palmolive Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Colgate-Palmolive and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply