Colgate-Palmolive (CL) to Release Earnings on Friday

Colgate-Palmolive (NYSE:CL) will announce its earnings results 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.Individual that wish to register for the company’s earnings conference call can do so using this link.

Colgate-Palmolive (NYSE:CL) last announced its quarterly earnings results on Friday, January 26th. The company reported $0.87 earnings per share for the quarter, topping 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 company had revenue of $4.95 billion for the quarter, compared to analysts’ expectations of $4.89 billion. During the same quarter in the previous year, the business posted $0.77 earnings per share. Colgate-Palmolive’s quarterly revenue was up 6.9% on a year-over-year basis. On average, analysts expect Colgate-Palmolive to post $4 EPS for the current fiscal year and $4 EPS for the next fiscal year.

Colgate-Palmolive Stock Performance

Shares of NYSE:CL opened at $88.87 on Thursday. The firm has a fifty day simple moving average of $87.40 and a two-hundred day simple moving average of $81.25. Colgate-Palmolive has a 52 week low of $67.62 and a 52 week high of $90.37. The company has a quick ratio of 0.71, a current ratio of 1.11 and a debt-to-equity ratio of 8.59. The stock has a market capitalization of $73.05 billion, a P/E ratio of 31.97, a PEG ratio of 3.32 and a beta of 0.42.

Colgate-Palmolive Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 15th. Shareholders of record on Monday, April 22nd will be paid a dividend of $0.50 per share. This is a boost from Colgate-Palmolive’s previous quarterly dividend of $0.48. This represents a $2.00 annualized dividend and a yield of 2.25%. The ex-dividend date is Friday, April 19th. Colgate-Palmolive’s payout ratio is presently 71.94%.

Wall Street Analyst Weigh In

Several analysts recently weighed in on CL shares. Citigroup increased their price target on Colgate-Palmolive from $95.00 to $100.00 and gave the company a “buy” rating in a report on Tuesday, April 16th. Raymond James upgraded shares of Colgate-Palmolive from a “market perform” rating to an “outperform” rating and set a $91.00 price target on the stock in a report on Monday, January 29th. Wells Fargo & Company raised their price objective on shares of Colgate-Palmolive from $80.00 to $88.00 and gave the stock an “equal weight” rating in a research note on Monday, January 29th. Evercore ISI upped their target price on Colgate-Palmolive from $90.00 to $96.00 and gave the company an “outperform” rating in a research note on Monday, April 8th. Finally, StockNews.com lowered Colgate-Palmolive from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, February 20th. Three analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $89.50.

Insider Activity at Colgate-Palmolive

In related news, CEO Noel R. Wallace sold 50,000 shares of the company’s stock in a transaction on Monday, February 12th. The stock was sold at an average price of $83.15, for a total transaction of $4,157,500.00. Following the completion of the sale, the chief executive officer now directly owns 274,179 shares in the company, valued at approximately $22,797,983.85. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, CEO Noel R. Wallace sold 50,000 shares of Colgate-Palmolive stock in a transaction that occurred 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 transaction, the chief executive officer now owns 274,179 shares of the company’s stock, valued at approximately $22,797,983.85. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director C Martin Harris sold 2,760 shares of the stock in a transaction that occurred on Wednesday, January 31st. The shares were sold at an average price of $84.50, for a total transaction of $233,220.00. Following the sale, the director now directly owns 19,272 shares of the company’s stock, valued at approximately $1,628,484. The disclosure for this sale can be found here. Insiders have sold a total of 232,371 shares of company stock valued at $19,505,099 over the last ninety days. 0.37% of the stock is owned by company insiders.

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.