Analysts Expect Colgate-Palmolive (NYSE:CL) Will Post Quarterly Sales of $3.87 Billion

Wall Street brokerages forecast that Colgate-Palmolive (NYSE:CL) will report $3.87 billion in sales for the current fiscal quarter, according to Zacks Investment Research. Six analysts have issued estimates for Colgate-Palmolive’s earnings, with the lowest sales estimate coming in at $3.86 billion and the highest estimate coming in at $3.89 billion. Colgate-Palmolive posted sales of $3.89 billion in the same quarter last year, which suggests a negative year over year growth rate of 0.5%. The company is expected to issue its next quarterly earnings results on Friday, July 26th.

According to Zacks, analysts expect that Colgate-Palmolive will report full-year sales of $15.63 billion for the current fiscal year, with estimates ranging from $15.54 billion to $15.69 billion. For the next fiscal year, analysts forecast that the firm will report sales of $16.08 billion, with estimates ranging from $15.91 billion to $16.18 billion. Zacks Investment Research’s sales averages are an average based on a survey of research firms that cover Colgate-Palmolive.

Colgate-Palmolive (NYSE:CL) last posted its earnings results on Friday, April 26th. The company reported $0.67 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.66 by $0.01. Colgate-Palmolive had a negative return on equity of 3,730.37% and a net margin of 15.08%. The company had revenue of $3.88 billion for the quarter, compared to analyst estimates of $3.86 billion. During the same period last year, the company earned $0.74 earnings per share. The business’s revenue was down 2.9% compared to the same quarter last year.

Several research firms have weighed in on CL. Argus raised their target price on Colgate-Palmolive from $72.00 to $82.00 and gave the company a “buy” rating in a report on Tuesday. Zacks Investment Research lowered Colgate-Palmolive from a “buy” rating to a “hold” rating and set a $77.00 target price on the stock. in a report on Friday, June 7th. ValuEngine upgraded Colgate-Palmolive from a “hold” rating to a “buy” rating in a report on Monday, May 13th. Macquarie raised their target price on Colgate-Palmolive from $65.00 to $72.00 and gave the company a “neutral” rating in a report on Monday, April 29th. Finally, Morgan Stanley raised their target price on Colgate-Palmolive from $62.00 to $68.00 and gave the company an “equal weight” rating in a report on Monday, April 29th. One research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and five have given a buy rating to the company’s stock. Colgate-Palmolive currently has a consensus rating of “Hold” and a consensus target price of $70.13.

NYSE CL opened at $73.33 on Wednesday. Colgate-Palmolive has a fifty-two week low of $57.41 and a fifty-two week high of $74.14. The company has a debt-to-equity ratio of 32.25, a quick ratio of 0.74 and a current ratio of 1.07. The stock has a market cap of $63.52 billion, a price-to-earnings ratio of 24.69, a P/E/G ratio of 4.84 and a beta of 0.79.

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, May 15th. Stockholders of record on Friday, April 19th were paid a $0.43 dividend. The ex-dividend date was Wednesday, April 17th. This is a positive change from Colgate-Palmolive’s previous quarterly dividend of $0.42. This represents a $1.72 dividend on an annualized basis and a dividend yield of 2.35%. Colgate-Palmolive’s payout ratio is presently 57.91%.

In other news, insider Ian M. Cook sold 19,500 shares of Colgate-Palmolive stock in a transaction dated Wednesday, May 29th. The stock was sold at an average price of $69.92, for a total value of $1,363,440.00. Following the transaction, the insider now directly owns 1,186,042 shares in the company, valued at $82,928,056.64. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Justin Skala sold 92,643 shares of Colgate-Palmolive stock in a transaction dated Tuesday, May 7th. The stock was sold at an average price of $70.78, for a total value of $6,557,271.54. Following the completion of the transaction, the vice president now owns 163,653 shares in the company, valued at $11,583,359.34. The disclosure for this sale can be found here. Insiders sold 354,711 shares of company stock worth $25,087,935 over the last quarter. 1.14% of the stock is currently owned by corporate insiders.

A number of institutional investors and hedge funds have recently modified their holdings of CL. Meridian Wealth Management LLC bought a new position in shares of Colgate-Palmolive in the 1st quarter worth about $29,000. Capital Financial Planning LLC bought a new position in shares of Colgate-Palmolive in the 4th quarter worth about $27,000. Parisi Gray Wealth Management increased its stake in shares of Colgate-Palmolive by 365.3% in the 4th quarter. Parisi Gray Wealth Management now owns 470 shares of the company’s stock worth $28,000 after acquiring an additional 369 shares in the last quarter. Golden State Wealth Management LLC bought a new position in shares of Colgate-Palmolive in the 1st quarter worth about $32,000. Finally, Portfolio Solutions LLC bought a new position in shares of Colgate-Palmolive in the 4th quarter worth about $30,000. Hedge funds and other institutional investors own 75.66% of the company’s stock.

About Colgate-Palmolive

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. It offers oral care products, including toothpastes, toothbrushes, and mouthwashes, as well as pharmaceutical products for dentists and other oral health professionals; and personal care products, such as liquid hand soaps, bar soaps, shower gels, deodorants and antiperspirants, skin care products, and shampoos and conditioners.

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Earnings History and Estimates for Colgate-Palmolive (NYSE:CL)

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