Colgate-Palmolive (NYSE:CL) Updates FY 2024 Earnings Guidance

Colgate-Palmolive (NYSE:CL) updated its FY 2024 earnings guidance on Friday. The company provided earnings per share guidance of 3.490-3.590 for the period, compared to the consensus earnings per share estimate of 3.530. The company issued revenue guidance of $19.8 billion-$20.4 billion, compared to the consensus revenue estimate of $20.2 billion.

Analysts Set New Price Targets

CL has been the subject of several research reports. Jefferies Financial Group lowered shares of Colgate-Palmolive from a buy rating to a hold rating and decreased their price target for the stock from $103.00 to $95.00 in a research note on Wednesday. Deutsche Bank Aktiengesellschaft increased their price target on shares of Colgate-Palmolive from $98.00 to $104.00 and gave the stock a buy rating in a research note on Wednesday, July 17th. BNP Paribas initiated coverage on shares of Colgate-Palmolive in a research note on Monday, June 24th. They issued an outperform rating and a $109.00 price target for the company. Barclays increased their price target on shares of Colgate-Palmolive from $85.00 to $91.00 and gave the stock an equal weight rating in a research note on Friday, July 19th. Finally, Bank of America increased their price target on shares of Colgate-Palmolive from $100.00 to $110.00 and gave the stock a buy rating in a research note on Wednesday, July 10th. Four analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of Moderate Buy and a consensus target price of $98.58.

Colgate-Palmolive Stock Up 1.4 %

NYSE CL opened at $97.85 on Friday. The business has a fifty day moving average price of $95.72 and a 200 day moving average price of $89.93. Colgate-Palmolive has a one year low of $67.62 and a one year high of $99.63. The company has a debt-to-equity ratio of 13.21, a quick ratio of 0.70 and a current ratio of 1.06. The company has a market cap of $80.28 billion, a P/E ratio of 30.53, a P/E/G ratio of 3.49 and a beta of 0.39.

Colgate-Palmolive (NYSE:CL) last released its quarterly earnings results on Friday, July 26th. The company reported $0.91 EPS for the quarter, beating the consensus estimate of $0.87 by $0.04. Colgate-Palmolive had a net margin of 13.22% and a return on equity of 485.40%. The firm had revenue of $5.06 billion during the quarter, compared to the consensus estimate of $5 billion. During the same quarter in the prior year, the firm earned $0.77 EPS. Colgate-Palmolive’s revenue for the quarter was up 4.9% on a year-over-year basis. Research analysts anticipate that Colgate-Palmolive will post 3.53 EPS for the current fiscal year.

Colgate-Palmolive Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, August 15th. Investors of record on Friday, July 19th will be paid a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 2.04%. The ex-dividend date is Friday, July 19th. Colgate-Palmolive’s payout ratio is currently 63.29%.

Insider Buying and Selling

In other Colgate-Palmolive news, insider Sally Massey sold 12,226 shares of the business’s stock in a transaction dated Thursday, May 9th. The stock was sold at an average price of $94.06, for a total transaction of $1,149,977.56. Following the completion of the sale, the insider now owns 13,924 shares of the company’s stock, valued at $1,309,691.44. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Colgate-Palmolive news, insider John W. Kooyman sold 3,497 shares of the company’s stock in a transaction that occurred on Tuesday, May 7th. The stock was sold at an average price of $93.47, for a total transaction of $326,864.59. Following the sale, the insider now owns 3,181 shares in the company, valued at $297,328.07. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Sally Massey sold 12,226 shares of the company’s stock in a transaction that occurred on Thursday, May 9th. The shares were sold at an average price of $94.06, for a total value of $1,149,977.56. Following the sale, the insider now owns 13,924 shares in the company, valued at approximately $1,309,691.44. The disclosure for this sale can be found here. 0.34% of the stock is currently owned by 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.