Analysts Expect Colgate-Palmolive (NYSE:CL) Will Announce Quarterly Sales of $4.37 Billion

Equities analysts expect that Colgate-Palmolive (NYSE:CLGet Rating) will post $4.37 billion in sales for the current quarter, according to Zacks Investment Research. Six analysts have made estimates for Colgate-Palmolive’s earnings. The lowest sales estimate is $4.28 billion and the highest is $4.46 billion. Colgate-Palmolive reported sales of $4.26 billion in the same quarter last year, which indicates a positive year over year growth rate of 2.6%. The company is scheduled to report its next quarterly earnings report on Monday, January 1st.

On average, analysts expect that Colgate-Palmolive will report full-year sales of $18.00 billion for the current year, with estimates ranging from $17.73 billion to $18.26 billion. For the next year, analysts forecast that the firm will post sales of $18.71 billion, with estimates ranging from $18.26 billion to $19.16 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of research firms that follow Colgate-Palmolive.

Colgate-Palmolive (NYSE:CLGet Rating) last issued its earnings results on Friday, April 29th. The company reported $0.74 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.74. The business had revenue of $4.40 billion for the quarter, compared to analyst estimates of $4.40 billion. Colgate-Palmolive had a net margin of 11.70% and a return on equity of 296.77%. The company’s revenue for the quarter was up 1.3% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.80 EPS.

Several equities research analysts recently weighed in on CL shares. Morgan Stanley increased their price objective on shares of Colgate-Palmolive from $90.00 to $91.00 and gave the stock an “equal weight” rating in a research note on Monday, January 31st. Deutsche Bank Aktiengesellschaft dropped their price objective on shares of Colgate-Palmolive from $91.00 to $88.00 in a research note on Monday, May 2nd. Stifel Nicolaus dropped their price target on shares of Colgate-Palmolive from $90.00 to $88.00 in a research note on Wednesday, April 13th. Raymond James assumed coverage on shares of Colgate-Palmolive in a research note on Thursday, April 7th. They issued a “market perform” rating on the stock. Finally, Wells Fargo & Company dropped their price target on shares of Colgate-Palmolive from $78.00 to $76.00 and set an “underweight” rating on the stock in a research note on Monday, January 31st. Two investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, Colgate-Palmolive has a consensus rating of “Hold” and an average price target of $85.56.

CL opened at $76.84 on Monday. The firm has a market cap of $64.39 billion, a price-to-earnings ratio of 31.75, a price-to-earnings-growth ratio of 5.09 and a beta of 0.56. Colgate-Palmolive has a fifty-two week low of $72.20 and a fifty-two week high of $85.61. The company’s 50-day moving average price is $77.23 and its 200 day moving average price is $79.11. The company has a quick ratio of 0.67, a current ratio of 1.09 and a debt-to-equity ratio of 10.42.

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 13th. Investors of record on Thursday, April 21st will be issued a dividend of $0.47 per share. This represents a $1.88 dividend on an annualized basis and a yield of 2.45%. This is a boost from Colgate-Palmolive’s previous quarterly dividend of $0.45. The ex-dividend date of this dividend is Wednesday, April 20th. Colgate-Palmolive’s dividend payout ratio (DPR) is presently 77.69%.

Colgate-Palmolive announced that its Board of Directors has approved a stock buyback plan on Thursday, March 10th that permits the company to repurchase $5.00 billion in shares. This repurchase authorization permits the company to reacquire up to 8.1% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s board believes its shares are undervalued.

In other Colgate-Palmolive news, insider Panagiotis Tsourapas sold 25,000 shares of the stock in a transaction that occurred on Wednesday, February 9th. The shares were sold at an average price of $81.00, for a total value of $2,025,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director John P. Bilbrey sold 4,917 shares of the stock in a transaction that occurred on Monday, February 14th. The stock was sold at an average price of $78.66, for a total transaction of $386,771.22. The disclosure for this sale can be found here. 0.32% of the stock is currently owned by corporate insiders.

A number of hedge funds have recently added to or reduced their stakes in CL. Retirement Planning Co of New England Inc. raised its holdings in shares of Colgate-Palmolive by 2.2% during the 1st quarter. Retirement Planning Co of New England Inc. now owns 7,222 shares of the company’s stock valued at $547,000 after purchasing an additional 158 shares in the last quarter. Great Lakes Advisors LLC raised its holdings in shares of Colgate-Palmolive by 961.5% during the 1st quarter. Great Lakes Advisors LLC now owns 134,151 shares of the company’s stock valued at $10,173,000 after purchasing an additional 121,513 shares in the last quarter. GHE LLC raised its holdings in shares of Colgate-Palmolive by 2.0% during the 1st quarter. GHE LLC now owns 18,407 shares of the company’s stock valued at $1,396,000 after purchasing an additional 354 shares in the last quarter. Hilton Capital Management LLC bought a new position in shares of Colgate-Palmolive during the 1st quarter valued at $10,900,000. Finally, Buckingham Capital Management Inc. raised its holdings in shares of Colgate-Palmolive by 4.6% during the 1st quarter. Buckingham Capital Management Inc. now owns 9,595 shares of the company’s stock valued at $728,000 after purchasing an additional 419 shares in the last quarter. Institutional investors own 78.12% of the company’s stock.

About Colgate-Palmolive (Get Rating)

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. The Oral, Personal and Home Care segment offers toothpaste, toothbrushes, mouthwash, bar and liquid hand soaps, shower gels, shampoos, conditioners, deodorants and antiperspirants, skin health products, dishwashing detergents, fabric conditioners, household cleaners, and other related items.

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