Colgate-Palmolive Company (NYSE:CL) – Equities researchers at KeyCorp reduced their Q3 2017 earnings per share (EPS) estimates for shares of Colgate-Palmolive in a note issued to investors on Sunday. KeyCorp analyst J. Gere now expects that the company will earn $0.71 per share for the quarter, down from their prior estimate of $0.75. KeyCorp also issued estimates for Colgate-Palmolive’s Q4 2017 earnings at $0.78 EPS, Q3 2018 earnings at $0.76 EPS and Q4 2018 earnings at $0.82 EPS.
A number of other analysts have also recently issued reports on CL. Zacks Investment Research raised Colgate-Palmolive from a “sell” rating to a “hold” rating in a research report on Thursday, March 30th. Citigroup Inc. reissued a “neutral” rating and set a $76.00 price objective (up previously from $75.00) on shares of Colgate-Palmolive in a research report on Friday, April 7th. Jefferies Group LLC initiated coverage on Colgate-Palmolive in a research report on Tuesday, April 18th. They set a “hold” rating and a $78.00 price objective for the company. Royal Bank Of Canada reissued a “hold” rating and set a $74.00 price objective on shares of Colgate-Palmolive in a research report on Monday, April 24th. Finally, UBS AG reissued a “neutral” rating and set a $78.00 price objective (down previously from $79.00) on shares of Colgate-Palmolive in a research report on Tuesday, May 2nd. Two research analysts have rated the stock with a sell rating, thirteen have given a hold rating and two have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average price target of $75.83.
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Shares of Colgate-Palmolive (NYSE CL) opened at 73.00 on Wednesday. The firm’s 50-day moving average price is $74.29 and its 200 day moving average price is $72.38. Colgate-Palmolive has a 52 week low of $63.43 and a 52 week high of $77.27. The firm has a market capitalization of $64.30 billion, a price-to-earnings ratio of 27.13 and a beta of 0.80.
Colgate-Palmolive (NYSE:CL) last announced its quarterly earnings results on Friday, July 21st. The company reported $0.72 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.72. The company had revenue of $3.83 billion during the quarter, compared to analyst estimates of $3.89 billion. Colgate-Palmolive had a return on equity of 3,121.95% and a net margin of 15.83%. The firm’s revenue was down .5% on a year-over-year basis. During the same period in the prior year, the firm posted $0.70 earnings per share.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 15th. Stockholders of record on Tuesday, July 18th will be paid a $0.40 dividend. The ex-dividend date is Friday, July 14th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.19%. Colgate-Palmolive’s payout ratio is presently 59.48%.
In other news, SVP John J. Huston sold 14,000 shares of Colgate-Palmolive stock in a transaction dated Wednesday, May 10th. The stock was sold at an average price of $71.53, for a total value of $1,001,420.00. Following the transaction, the senior vice president now directly owns 102,838 shares in the company, valued at $7,356,002.14. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Patricia Verduin sold 3,833 shares of Colgate-Palmolive stock in a transaction dated Monday, July 17th. The stock was sold at an average price of $72.41, for a total value of $277,547.53. Following the completion of the transaction, the insider now owns 53,022 shares in the company, valued at $3,839,323.02. The disclosure for this sale can be found here. Insiders sold 29,666 shares of company stock worth $2,144,371 over the last quarter. 1.02% of the stock is currently owned by corporate insiders.
Several institutional investors have recently bought and sold shares of the company. Chickasaw Capital Management LLC raised its position in Colgate-Palmolive by 218.3% in the first quarter. Chickasaw Capital Management LLC now owns 16,920 shares of the company’s stock worth $1,238,000 after buying an additional 11,605 shares during the last quarter. Meritage Portfolio Management raised its position in Colgate-Palmolive by 0.3% in the first quarter. Meritage Portfolio Management now owns 95,879 shares of the company’s stock worth $7,017,000 after buying an additional 255 shares during the last quarter. Eastern Bank raised its position in Colgate-Palmolive by 0.8% in the first quarter. Eastern Bank now owns 10,939 shares of the company’s stock worth $801,000 after buying an additional 89 shares during the last quarter. ProShare Advisors LLC raised its position in Colgate-Palmolive by 9.9% in the first quarter. ProShare Advisors LLC now owns 879,652 shares of the company’s stock worth $64,382,000 after buying an additional 79,323 shares during the last quarter. Finally, Lynch & Associates IN raised its position in Colgate-Palmolive by 4.1% in the first quarter. Lynch & Associates IN now owns 29,542 shares of the company’s stock worth $2,162,000 after buying an additional 1,175 shares during the last quarter. Institutional investors and hedge funds own 73.57% of the company’s stock.
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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