Colgate-Palmolive (NYSE:CL) Earns Buy Rating from Royal Bank of Canada

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Royal Bank of Canada reissued their buy rating on shares of Colgate-Palmolive (NYSE:CL) in a research report sent to investors on Thursday, AnalystRatings.com reports. The brokerage currently has a $88.00 target price on the stock.

Several other equities research analysts also recently weighed in on the company. Deutsche Bank increased their price target on Colgate-Palmolive from $73.00 to $75.00 and gave the stock a hold rating in a research report on Monday, July 27th. TheStreet downgraded Colgate-Palmolive from a b rating to a c+ rating in a research report on Friday, May 1st. Credit Suisse Group reaffirmed a sell rating and set a $67.00 price target on shares of Colgate-Palmolive in a research report on Monday, May 4th. Stifel Nicolaus raised their target price on Colgate-Palmolive from $72.00 to $75.00 and gave the company a buy rating in a research report on Monday, May 4th. Finally, Morgan Stanley cut Colgate-Palmolive from an overweight rating to an equal weight rating and set a $78.00 target price on the stock. in a research report on Wednesday, July 22nd. They noted that the move was a valuation call. Three equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and seven have assigned a buy rating to the company’s stock. Colgate-Palmolive presently has a consensus rating of Hold and an average target price of $74.92.

NYSE CL opened at $77.20 on Thursday. The stock’s fifty day moving average price is $73.69 and its 200 day moving average price is $71.47. The company has a market cap of $66.12 billion, a price-to-earnings ratio of 26.35, a PEG ratio of 4.78 and a beta of 0.60. The company has a debt-to-equity ratio of 21.51, a current ratio of 0.96 and a quick ratio of 0.66. Colgate-Palmolive has a 1 year low of $58.49 and a 1 year high of $77.46.

Colgate-Palmolive (NYSE:CL) last announced its quarterly earnings results on Friday, July 31st. The company reported $0.74 earnings per share for the quarter, topping the consensus estimate of $0.69 by $0.05. The company had revenue of $3.90 billion for the quarter, compared to the consensus estimate of $3.78 billion. Colgate-Palmolive had a return on equity of 942.99% and a net margin of 15.86%. The firm’s revenue for the quarter was up .8% compared to the same quarter last year. During the same period last year, the firm earned $0.72 EPS. Research analysts expect that Colgate-Palmolive will post 2.9 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Friday, August 14th. Investors of record on Monday, July 20th will be paid a $0.44 dividend. This represents a $1.76 dividend on an annualized basis and a yield of 2.28%. The ex-dividend date is Friday, July 17th. Colgate-Palmolive’s dividend payout ratio is presently 62.19%.

In related news, Director Michael B. Polk sold 3,115 shares of the firm’s stock in a transaction dated Wednesday, May 13th. The shares were sold at an average price of $68.08, for a total value of $212,069.20. Following the transaction, the director now directly owns 20,622 shares of the company’s stock, valued at approximately $1,403,945.76. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 0.78% of the company’s stock.

A number of institutional investors have recently modified their holdings of CL. Advisory Alpha LLC purchased a new position in Colgate-Palmolive in the 1st quarter worth approximately $26,000. Balentine LLC purchased a new position in Colgate-Palmolive in the 1st quarter worth approximately $36,000. Golden State Wealth Management LLC purchased a new position in Colgate-Palmolive in the 1st quarter worth approximately $40,000. Paragon Capital Management LLC purchased a new position in Colgate-Palmolive in the 1st quarter worth approximately $42,000. Finally, Capital Advisory Group Advisory Services LLC purchased a new position in Colgate-Palmolive in the 1st quarter worth approximately $45,000. 77.13% of the stock is currently 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. 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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Analyst Recommendations for Colgate-Palmolive (NYSE:CL)

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