Colgate-Palmolive (NYSE:CL) – Investment analysts at SunTrust Banks dropped their Q3 2018 earnings per share (EPS) estimates for shares of Colgate-Palmolive in a report issued on Thursday, October 18th. SunTrust Banks analyst W. Chappell now expects that the company will earn $0.72 per share for the quarter, down from their previous forecast of $0.73. SunTrust Banks also issued estimates for Colgate-Palmolive’s Q4 2018 earnings at $0.75 EPS, FY2018 earnings at $2.98 EPS, Q1 2019 earnings at $0.79 EPS, Q2 2019 earnings at $0.80 EPS, Q3 2019 earnings at $0.77 EPS, Q4 2019 earnings at $0.80 EPS and FY2019 earnings at $3.16 EPS.
CL has been the topic of a number of other reports. Stifel Nicolaus reduced their price objective on shares of Colgate-Palmolive from $75.00 to $73.00 and set a “hold” rating on the stock in a research note on Monday, July 23rd. Wells Fargo & Co dropped their target price on shares of Colgate-Palmolive from $64.00 to $62.00 and set a “market perform” rating on the stock in a report on Wednesday. ValuEngine raised shares of Colgate-Palmolive from a “sell” rating to a “hold” rating in a report on Tuesday, July 31st. Zacks Investment Research cut shares of Colgate-Palmolive from a “hold” rating to a “sell” rating in a report on Monday, July 2nd. Finally, Barclays set a $64.00 target price on shares of Colgate-Palmolive and gave the stock a “hold” rating in a report on Monday, July 30th. Three research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and two have assigned a buy rating to the stock. The stock has an average rating of “Hold” and an average target price of $70.79.
NYSE CL opened at $64.52 on Friday. Colgate-Palmolive has a 12 month low of $61.28 and a 12 month high of $77.91. The company has a debt-to-equity ratio of -34.49, a quick ratio of 0.74 and a current ratio of 1.06. The firm has a market cap of $55.14 billion, a price-to-earnings ratio of 22.48, a P/E/G ratio of 2.91 and a beta of 0.72.
Colgate-Palmolive (NYSE:CL) last posted its quarterly earnings data on Friday, July 27th. The company reported $0.77 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.77. Colgate-Palmolive had a net margin of 13.97% and a return on equity of 2,494.79%. The firm had revenue of $3.89 billion for the quarter, compared to the consensus estimate of $3.91 billion. During the same period in the prior year, the firm posted $0.72 EPS. The firm’s revenue was up 1.6% compared to the same quarter last year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, November 15th. Shareholders of record on Friday, October 19th will be issued a dividend of $0.42 per share. The ex-dividend date of this dividend is Thursday, October 18th. This represents a $1.68 dividend on an annualized basis and a dividend yield of 2.60%. Colgate-Palmolive’s dividend payout ratio (DPR) is 58.54%.
In related news, VP Justin Skala sold 90,069 shares of the stock in a transaction dated Thursday, August 2nd. The shares were sold at an average price of $66.36, for a total value of $5,976,978.84. Following the sale, the vice president now owns 65,061 shares of the company’s stock, valued at approximately $4,317,447.96. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Vice Chairman Dennis J. Hickey sold 120,000 shares of the stock in a transaction dated Tuesday, August 14th. The stock was sold at an average price of $65.72, for a total transaction of $7,886,400.00. Following the completion of the sale, the insider now directly owns 202,414 shares in the company, valued at approximately $13,302,648.08. The disclosure for this sale can be found here. Insiders have sold 395,779 shares of company stock worth $26,108,856 over the last three months. 1.02% of the stock is owned by corporate insiders.
Hedge funds have recently added to or reduced their stakes in the stock. A.R.T. Advisors LLC grew its position in Colgate-Palmolive by 72.9% in the 1st quarter. A.R.T. Advisors LLC now owns 12,100 shares of the company’s stock valued at $867,000 after buying an additional 5,100 shares in the last quarter. Rainier Group Investment Advisory LLC bought a new position in Colgate-Palmolive in the 1st quarter valued at about $107,000. Private Capital Group LLC grew its position in Colgate-Palmolive by 173.6% in the 1st quarter. Private Capital Group LLC now owns 2,353 shares of the company’s stock valued at $169,000 after buying an additional 1,493 shares in the last quarter. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp bought a new position in Colgate-Palmolive in the 1st quarter valued at about $1,663,000. Finally, CIBC World Markets Inc. grew its position in Colgate-Palmolive by 41.7% in the 1st quarter. CIBC World Markets Inc. now owns 94,185 shares of the company’s stock valued at $6,751,000 after buying an additional 27,731 shares in the last quarter. 74.95% of the stock is currently owned by institutional investors and hedge funds.
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.
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