Colgate-Palmolive (NYSE:CL) Posts Earnings Results, Beats Estimates By $0.04 EPS

Colgate-Palmolive (NYSE:CL) posted its quarterly earnings data on Friday. The company reported $0.86 EPS for the quarter, beating analysts’ consensus estimates of $0.82 by $0.04, RTT News reports. Colgate-Palmolive had a net margin of 11.82% and a return on equity of 509.75%. The business had revenue of $5.07 billion for the quarter, compared to analyst estimates of $4.96 billion. During the same quarter last year, the business earned $0.73 earnings per share. The business’s revenue for the quarter was up 6.2% on a year-over-year basis. Colgate-Palmolive updated its FY 2024 guidance to EPS.

Colgate-Palmolive Trading Up 1.9 %

NYSE CL opened at $90.99 on Friday. Colgate-Palmolive has a twelve month low of $67.62 and a twelve month high of $92.25. The company has a debt-to-equity ratio of 8.59, a quick ratio of 0.71 and a current ratio of 1.11. The stock has a market cap of $74.79 billion, a price-to-earnings ratio of 32.73, a PEG ratio of 3.35 and a beta of 0.42. The firm’s 50 day moving average price is $87.66 and its two-hundred day moving average price is $81.46.

Colgate-Palmolive Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 15th. Shareholders of record on Monday, April 22nd will be given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 2.20%. This is a boost from Colgate-Palmolive’s previous quarterly dividend of $0.48. The ex-dividend date is Friday, April 19th. Colgate-Palmolive’s payout ratio is presently 71.94%.

Analyst Upgrades and Downgrades

CL has been the topic of a number of research analyst reports. TheStreet upgraded shares of Colgate-Palmolive from a “c+” rating to a “b+” rating in a research note on Friday, January 26th. Wells Fargo & Company raised their price objective on shares of Colgate-Palmolive from $80.00 to $88.00 and gave the company an “equal weight” rating in a research note on Monday, January 29th. JPMorgan Chase & Co. raised their price objective on shares of Colgate-Palmolive from $88.00 to $90.00 and gave the company an “overweight” rating in a research note on Thursday, January 18th. Evercore ISI raised their price objective on shares of Colgate-Palmolive from $90.00 to $96.00 and gave the company an “outperform” rating in a research note on Monday, April 8th. Finally, Stifel Nicolaus raised their price objective on shares of Colgate-Palmolive from $89.00 to $94.00 and gave the company a “buy” rating in a research note on Wednesday, April 10th. Three analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Colgate-Palmolive has an average rating of “Moderate Buy” and an average target price of $89.50.

Insiders Place Their Bets

In other Colgate-Palmolive news, insider Jennifer Daniels sold 61,633 shares of Colgate-Palmolive stock in a transaction that occurred on Thursday, February 1st. The shares were sold at an average price of $83.93, for a total transaction of $5,172,857.69. Following the transaction, the insider now directly owns 57,948 shares in the company, valued at approximately $4,863,575.64. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other Colgate-Palmolive news, insider Jennifer Daniels sold 61,633 shares of Colgate-Palmolive stock in a transaction that occurred on Thursday, February 1st. The shares were sold at an average price of $83.93, for a total transaction of $5,172,857.69. Following the transaction, the insider now directly owns 57,948 shares in the company, valued at approximately $4,863,575.64. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Noel R. Wallace sold 50,000 shares of Colgate-Palmolive stock in a transaction that occurred 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 transaction, the chief executive officer now owns 274,179 shares in the company, valued at $22,797,983.85. The disclosure for this sale can be found here. In the last three months, insiders have sold 232,371 shares of company stock worth $19,505,099. Corporate insiders own 0.34% of the company’s stock.

About Colgate-Palmolive

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.