Equities analysts predict that Colgate-Palmolive (NYSE:CL) will announce $3.98 billion in sales for the current fiscal quarter, according to Zacks. Six analysts have made estimates for Colgate-Palmolive’s earnings, with estimates ranging from $3.89 billion to $4.08 billion. Colgate-Palmolive posted sales of $3.83 billion in the same quarter last year, which would indicate a positive year-over-year growth rate of 3.9%. The firm is expected to report its next quarterly earnings report before the market opens on Friday, July 27th.
On average, analysts expect that Colgate-Palmolive will report full year sales of $16.03 billion for the current financial year, with estimates ranging from $15.67 billion to $16.38 billion. For the next year, analysts expect that the business will report sales of $16.39 billion per share, with estimates ranging from $15.83 billion to $17.00 billion. Zacks’ sales calculations are an average based on a survey of analysts that follow Colgate-Palmolive.
Colgate-Palmolive (NYSE:CL) last announced its quarterly earnings results on Friday, April 27th. The company reported $0.74 earnings per share for the quarter, beating analysts’ consensus estimates of $0.73 by $0.01. Colgate-Palmolive had a return on equity of 1,486.69% and a net margin of 13.30%. The firm had revenue of $4 billion for the quarter, compared to analysts’ expectations of $4.01 billion. During the same period in the prior year, the business posted $0.67 earnings per share. The business’s revenue was up 6.4% compared to the same quarter last year.
In other news, Director Helene D. Gayle sold 7,000 shares of the company’s stock in a transaction on Thursday, May 10th. The stock was sold at an average price of $62.23, for a total transaction of $435,610.00. Following the transaction, the director now owns 35,395 shares of the company’s stock, valued at $2,202,630.85. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Daniel B. Marsili sold 19,500 shares of the company’s stock in a transaction on Monday, April 16th. The shares were sold at an average price of $71.85, for a total value of $1,401,075.00. Following the transaction, the insider now directly owns 77,935 shares in the company, valued at approximately $5,599,629.75. The disclosure for this sale can be found here. Insiders have sold 161,579 shares of company stock worth $10,215,058 in the last 90 days. Company insiders own 1.02% of the company’s stock.
Institutional investors and hedge funds have recently modified their holdings of the company. Virtue Capital Management LLC acquired a new position in shares of Colgate-Palmolive during the fourth quarter valued at $104,000. Rainier Group Investment Advisory LLC acquired a new position in shares of Colgate-Palmolive during the first quarter valued at $107,000. Quadrant Capital Group LLC lifted its stake in shares of Colgate-Palmolive by 142.4% during the first quarter. Quadrant Capital Group LLC now owns 1,602 shares of the company’s stock valued at $108,000 after acquiring an additional 941 shares during the period. Centerpoint Advisors LLC acquired a new position in shares of Colgate-Palmolive during the first quarter valued at $112,000. Finally, Princeton Capital Management LLC acquired a new position in Colgate-Palmolive in the first quarter valued at about $117,000. 73.17% of the stock is currently owned by institutional investors and hedge funds.
NYSE:CL traded down $0.12 during trading hours on Monday, reaching $64.81. The company had a trading volume of 4,223,654 shares, compared to its average volume of 4,543,960. Colgate-Palmolive has a one year low of $61.28 and a one year high of $77.91. The stock has a market capitalization of $56.64 billion, a price-to-earnings ratio of 22.58, a price-to-earnings-growth ratio of 2.64 and a beta of 0.75. The company has a debt-to-equity ratio of 64.85, a current ratio of 1.08 and a quick ratio of 0.75.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, August 15th. Stockholders of record on Wednesday, July 18th will be issued a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a dividend yield of 2.59%. The ex-dividend date is Tuesday, July 17th. Colgate-Palmolive’s payout ratio is presently 58.54%.
Colgate-Palmolive announced that its Board of Directors has approved a stock repurchase program on Monday, June 18th that allows the company to buyback $5.00 billion in outstanding shares. This buyback authorization allows the company to buy up to 9% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s board believes its shares are undervalued.
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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