Zacks: Brokerages Expect Colgate-Palmolive (CL) Will Announce Quarterly Sales of $3.87 Billion

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Analysts expect that Colgate-Palmolive (NYSE:CL) will post sales of $3.87 billion for the current quarter, Zacks Investment Research reports. Six analysts have made estimates for Colgate-Palmolive’s earnings, with estimates ranging from $3.84 billion to $3.91 billion. Colgate-Palmolive reported sales of $4.00 billion during the same quarter last year, which would indicate a negative year over year growth rate of 3.3%. The firm is scheduled to announce its next quarterly earnings report on Friday, April 26th.

On average, analysts expect that Colgate-Palmolive will report full-year sales of $15.63 billion for the current year, with estimates ranging from $15.59 billion to $15.67 billion. For the next fiscal year, analysts forecast that the company will post sales of $16.04 billion, with estimates ranging from $15.95 billion to $16.17 billion. Zacks’ sales averages are a mean average based on a survey of research analysts that follow Colgate-Palmolive.

Colgate-Palmolive (NYSE:CL) last announced its quarterly earnings data on Friday, January 25th. The company reported $0.74 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.73 by $0.01. The firm had revenue of $3.81 billion during the quarter, compared to analysts’ expectations of $3.78 billion. Colgate-Palmolive had a return on equity of 25,268.29% and a net margin of 15.44%. The company’s quarterly revenue was down 2.1% compared to the same quarter last year. During the same period in the previous year, the business posted $0.75 EPS.

Several brokerages have weighed in on CL. Morgan Stanley set a $62.00 price objective on Colgate-Palmolive and gave the stock a “hold” rating in a report on Tuesday, January 29th. Zacks Investment Research raised Colgate-Palmolive from a “sell” rating to a “hold” rating in a report on Thursday, January 10th. Credit Suisse Group began coverage on Colgate-Palmolive in a report on Wednesday, March 6th. They set an “underperform” rating for the company. Macquarie set a $57.00 price objective on Colgate-Palmolive and gave the stock a “hold” rating in a report on Tuesday, January 29th. Finally, Wells Fargo & Co reaffirmed a “hold” rating and issued a $57.00 price target on shares of Colgate-Palmolive in a research note on Thursday, January 31st. Three analysts have rated the stock with a sell rating, twelve have assigned a hold rating and four have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $65.13.

NYSE:CL traded up $0.95 on Tuesday, hitting $67.20. 6,641,099 shares of the stock were exchanged, compared to its average volume of 4,211,929. The stock has a market capitalization of $57.90 billion, a P/E ratio of 22.63, a P/E/G ratio of 4.25 and a beta of 0.78. Colgate-Palmolive has a 52 week low of $57.41 and a 52 week high of $72.61. The company has a current ratio of 1.14, a quick ratio of 0.76 and a debt-to-equity ratio of 32.25.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, May 15th. Stockholders of record on Friday, April 19th will be paid a $0.43 dividend. The ex-dividend date is Wednesday, April 17th. This is a boost 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 2.56%. Colgate-Palmolive’s dividend payout ratio is 56.57%.

In related news, CTO Patricia Verduin sold 2,218 shares of the stock in a transaction that occurred on Tuesday, February 19th. The stock was sold at an average price of $66.38, for a total transaction of $147,230.84. Following the completion of the sale, the chief technology officer now directly owns 48,671 shares of the company’s stock, valued at approximately $3,230,780.98. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Vice Chairman Dennis J. Hickey sold 6,060 shares of the stock in a transaction that occurred on Tuesday, February 19th. The stock was sold at an average price of $66.37, for a total value of $402,202.20. Following the sale, the insider now directly owns 407,294 shares of the company’s stock, valued at $27,032,102.78. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 51,700 shares of company stock valued at $3,419,284. 1.02% of the stock is currently owned by company insiders.

A number of large investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. boosted its position in Colgate-Palmolive by 1.0% during the 3rd quarter. Vanguard Group Inc. now owns 73,520,894 shares of the company’s stock worth $4,922,224,000 after acquiring an additional 734,860 shares during the last quarter. Vanguard Group Inc boosted its holdings in shares of Colgate-Palmolive by 1.0% in the 3rd quarter. Vanguard Group Inc now owns 73,520,894 shares of the company’s stock valued at $4,922,224,000 after buying an additional 734,860 shares during the last quarter. BlackRock Inc. boosted its holdings in shares of Colgate-Palmolive by 13.5% in the 4th quarter. BlackRock Inc. now owns 60,648,605 shares of the company’s stock valued at $3,609,804,000 after buying an additional 7,236,342 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its holdings in shares of Colgate-Palmolive by 3.2% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 32,521,377 shares of the company’s stock valued at $1,935,674,000 after buying an additional 1,000,161 shares during the last quarter. Finally, Bank of New York Mellon Corp boosted its holdings in shares of Colgate-Palmolive by 1.1% in the 3rd quarter. Bank of New York Mellon Corp now owns 20,359,199 shares of the company’s stock valued at $1,363,050,000 after buying an additional 223,814 shares during the last quarter. 75.02% of the stock is owned by hedge funds and other institutional investors.

Colgate-Palmolive Company Profile

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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