Colgate-Palmolive (CL) Set to Announce Earnings on Friday

Colgate-Palmolive (NYSE:CL) is scheduled to be issuing its quarterly earnings data before the market opens on Friday, April 26th. Analysts expect the company to announce earnings of $0.82 per share for the quarter. Colgate-Palmolive has set its FY 2024 guidance at EPS.Parties interested in listening to the company’s conference call can do so using this link.

Colgate-Palmolive (NYSE:CL) last posted its quarterly earnings results on Friday, January 26th. The company reported $0.87 EPS for the quarter, beating the consensus estimate of $0.85 by $0.02. Colgate-Palmolive had a net margin of 11.82% and a return on equity of 509.75%. The business had revenue of $4.95 billion during the quarter, compared to analyst estimates of $4.89 billion. During the same quarter in the previous year, the business posted $0.77 EPS. The company’s quarterly revenue was up 6.9% compared to the same quarter last year. On average, analysts expect Colgate-Palmolive to post $3 EPS for the current fiscal year and $4 EPS for the next fiscal year.

Colgate-Palmolive Trading Down 0.1 %

NYSE:CL opened at $86.70 on Friday. Colgate-Palmolive has a one year low of $67.62 and a one year high of $90.37. The company has a debt-to-equity ratio of 8.59, a quick ratio of 0.71 and a current ratio of 1.11. The firm has a market cap of $71.27 billion, a P/E ratio of 31.19, a P/E/G ratio of 3.24 and a beta of 0.42. The firm has a 50-day simple moving average of $87.02 and a 200-day simple moving average of $80.67.

Colgate-Palmolive Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, May 15th. Stockholders of record on Monday, April 22nd will be issued a $0.50 dividend. The ex-dividend date of this dividend is Friday, April 19th. This represents a $2.00 annualized dividend and a dividend yield of 2.31%. This is a positive change from Colgate-Palmolive’s previous quarterly dividend of $0.48. Colgate-Palmolive’s payout ratio is currently 71.94%.

Wall Street Analyst Weigh In

Several research firms have recently commented on CL. Barclays boosted their price target on shares of Colgate-Palmolive from $82.00 to $84.00 and gave the company an “equal weight” rating in a report on Friday, April 12th. JPMorgan Chase & Co. boosted their price target on shares of Colgate-Palmolive from $88.00 to $90.00 and gave the company an “overweight” rating in a report on Thursday, January 18th. Citigroup lifted their price objective on shares of Colgate-Palmolive from $95.00 to $100.00 and gave the stock a “buy” rating in a research report on Tuesday. The Goldman Sachs Group assumed coverage on shares of Colgate-Palmolive in a research report on Friday, March 1st. They issued a “buy” rating and a $93.00 price objective on the stock. Finally, Evercore ISI lifted their price objective on shares of Colgate-Palmolive from $90.00 to $96.00 and gave the stock an “outperform” rating in a research report on Monday, April 8th. Three investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $89.50.

Insiders Place Their Bets

In other news, CEO Noel R. Wallace sold 29,772 shares of the company’s stock in a transaction on Friday, February 16th. The shares were sold at an average price of $84.06, for a total value of $2,502,634.32. Following the sale, the chief executive officer now directly owns 301,343 shares of the company’s stock, valued at approximately $25,330,892.58. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CEO Noel R. Wallace sold 50,000 shares of the business’s stock in a transaction on Monday, February 12th. The shares were sold at an average price of $83.15, for a total value of $4,157,500.00. Following the completion of the transaction, the chief executive officer now directly owns 274,179 shares in the company, valued at approximately $22,797,983.85. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Noel R. Wallace sold 29,772 shares of the business’s stock in a transaction on Friday, February 16th. The shares were sold at an average price of $84.06, for a total transaction of $2,502,634.32. Following the completion of the transaction, the chief executive officer now owns 301,343 shares of the company’s stock, valued at $25,330,892.58. The disclosure for this sale can be found here. In the last quarter, insiders have sold 232,371 shares of company stock valued at $19,505,099. Insiders own 0.34% of the company’s stock.

Hedge Funds Weigh In On Colgate-Palmolive

A number of large investors have recently added to or reduced their stakes in CL. Montag & Caldwell LLC acquired a new stake in shares of Colgate-Palmolive in the fourth quarter valued at about $201,000. Geller Advisors LLC purchased a new position in Colgate-Palmolive during the first quarter worth about $200,000. Main Street Group LTD acquired a new stake in shares of Colgate-Palmolive during the fourth quarter worth about $197,000. Covestor Ltd lifted its position in shares of Colgate-Palmolive by 71.9% during the first quarter. Covestor Ltd now owns 2,451 shares of the company’s stock worth $186,000 after purchasing an additional 1,025 shares in the last quarter. Finally, Sunbelt Securities Inc. acquired a new stake in shares of Colgate-Palmolive during the first quarter worth about $142,000. 80.41% of the stock is currently owned by institutional investors and hedge funds.

Colgate-Palmolive Company Profile

Colgate-Palmolive Company, together with its subsidiaries, manufactures and sells consumer products in the United States and internationally. It 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.