Zacks Investment Research cut shares of Colgate-Palmolive (NYSE:CL) from a buy rating to a hold rating in a report issued on Friday, January 5th.
According to Zacks, “Colgate has outperformed the industry in the last three months. The company is encouraged by the progress on the Global Growth and Efficiency Program along with additional savings anticipated from the recent expansion of the program. Moreover, the company has been infamous among investors with its meet or beat earnings track record. Though it posted in-line earnings and topped sales estimates in third-quarter 2017, margins remained strained due to increased raw material and packaging costs, as well as higher advertising expenses. Further, it anticipates these costs to persist and impact margins in 2017. The company also perked up its costs guidance related to charges arising from the expansion and extension of the Global Growth and Efficiency Program through Dec 31, 2019. Nonetheless, Colgate’s shareholder-friendly moves remain noteworthy. Estimates have been stable lately ahead of the fourth quarter earnings release.”
A number of other brokerages have also commented on CL. KeyCorp restated a hold rating on shares of Colgate-Palmolive in a research note on Monday, October 16th. Macquarie upgraded Colgate-Palmolive from a neutral rating to an outperform rating and set a $81.00 target price for the company in a research note on Tuesday, December 19th. Deutsche Bank started coverage on Colgate-Palmolive in a research report on Wednesday, December 13th. They issued a hold rating and a $75.00 price target on the stock. SunTrust Banks upgraded Colgate-Palmolive from a hold rating to a buy rating and upped their price target for the company from $65.00 to $85.00 in a research report on Wednesday, October 11th. Finally, Societe Generale cut Colgate-Palmolive from a hold rating to a sell rating and set a $66.00 price target on the stock. in a research report on Wednesday, November 29th. They noted that the move was a valuation call. Three equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating and five have given a buy rating to the company. Colgate-Palmolive presently has a consensus rating of Hold and a consensus target price of $77.48.
Colgate-Palmolive (NYSE:CL) traded down $0.43 on Friday, reaching $74.24. The company had a trading volume of 5,457,402 shares, compared to its average volume of 3,640,000. Colgate-Palmolive has a 12-month low of $64.34 and a 12-month high of $77.91. The company has a current ratio of 0.47, a quick ratio of 0.34 and a debt-to-equity ratio of 24.42. The firm has a market cap of $65,190.00, a price-to-earnings ratio of 32.56, a P/E/G ratio of 3.02 and a beta of 0.81.
Colgate-Palmolive (NYSE:CL) last issued its quarterly earnings results on Friday, January 26th. The company reported $0.75 EPS for the quarter, hitting analysts’ consensus estimates of $0.75. Colgate-Palmolive had a return on equity of 1,716.69% and a net margin of 13.10%. The company had revenue of $3.89 billion during the quarter, compared to analyst estimates of $3.92 billion. During the same period in the previous year, the company earned $0.75 earnings per share. The company’s quarterly revenue was up 4.6% compared to the same quarter last year. research analysts expect that Colgate-Palmolive will post 3.21 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, February 15th. Stockholders of record on Tuesday, January 23rd will be given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.16%. The ex-dividend date is Monday, January 22nd. Colgate-Palmolive’s dividend payout ratio is currently 70.18%.
In other Colgate-Palmolive news, insider Jennifer Daniels sold 902 shares of the firm’s stock in a transaction that occurred on Tuesday, January 9th. The stock was sold at an average price of $75.82, for a total value of $68,389.64. Following the completion of the transaction, the insider now directly owns 37,788 shares in the company, valued at $2,865,086.16. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Victoria L. Dolan sold 10,000 shares of the firm’s stock in a transaction that occurred on Thursday, November 9th. The shares were sold at an average price of $73.07, for a total value of $730,700.00. Following the completion of the transaction, the insider now owns 60,528 shares of the company’s stock, valued at $4,422,780.96. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 181,950 shares of company stock worth $13,237,385. 1.02% of the stock is currently owned by insiders.
A number of hedge funds have recently bought and sold shares of the business. Jacobi Capital Management LLC boosted its stake in shares of Colgate-Palmolive by 125.5% during the 3rd quarter. Jacobi Capital Management LLC now owns 1,443 shares of the company’s stock worth $104,000 after acquiring an additional 803 shares during the period. Krilogy Financial LLC boosted its stake in shares of Colgate-Palmolive by 23.0% during the 2nd quarter. Krilogy Financial LLC now owns 1,547 shares of the company’s stock worth $115,000 after acquiring an additional 289 shares during the period. Harbour Capital Advisors LLC bought a new position in shares of Colgate-Palmolive during the 1st quarter worth approximately $121,000. Hanson & Doremus Investment Management boosted its stake in shares of Colgate-Palmolive by 4.5% during the 2nd quarter. Hanson & Doremus Investment Management now owns 1,630 shares of the company’s stock worth $121,000 after acquiring an additional 70 shares during the period. Finally, Captrust Financial Advisors bought a new position in shares of Colgate-Palmolive during the 2nd quarter worth approximately $122,000. Hedge funds and other institutional investors own 72.96% of the company’s stock.
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Colgate-Palmolive Company (Colgate) is a consumer products company. The Company operates in two product segments: Oral, Personal and Home Care, and Pet Nutrition. The Oral, Personal and Home Care product segment is operated through five geographic segments, which include North America, Latin America, Europe, Asia Pacific and Africa/Eurasia.
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