Analysts Set Expectations for Colgate-Palmolive’s FY2022 Earnings (NYSE:CL)

Colgate-Palmolive (NYSE:CLGet Rating) – Equities researchers at Jefferies Financial Group upped their FY2022 earnings per share (EPS) estimates for Colgate-Palmolive in a note issued to investors on Wednesday, January 4th. Jefferies Financial Group analyst K. Grundy now forecasts that the company will post earnings of $2.99 per share for the year, up from their previous estimate of $2.98. The consensus estimate for Colgate-Palmolive’s current full-year earnings is $2.97 per share. Jefferies Financial Group also issued estimates for Colgate-Palmolive’s Q4 2022 earnings at $0.79 EPS and FY2023 earnings at $3.22 EPS.

Colgate-Palmolive (NYSE:CLGet Rating) last posted its earnings results on Friday, October 28th. The company reported $0.74 EPS for the quarter, hitting analysts’ consensus estimates of $0.74. The company had revenue of $4.46 billion for the quarter, compared to the consensus estimate of $4.47 billion. Colgate-Palmolive had a return on equity of 304.29% and a net margin of 10.87%. The firm’s revenue for the quarter was up .9% on a year-over-year basis. During the same period in the previous year, the business earned $0.81 earnings per share.

A number of other analysts have also issued reports on CL. JPMorgan Chase & Co. upgraded Colgate-Palmolive from a “neutral” rating to an “overweight” rating and set a $79.00 price target for the company in a report on Thursday, October 13th. Wells Fargo & Company increased their price objective on Colgate-Palmolive from $75.00 to $80.00 and gave the company an “equal weight” rating in a report on Tuesday. The Goldman Sachs Group cut their target price on Colgate-Palmolive from $91.00 to $81.00 and set a “buy” rating on the stock in a research report on Monday, October 10th. Wolfe Research initiated coverage on Colgate-Palmolive in a research report on Monday, November 21st. They set a “market perform” rating on the stock. Finally, UBS Group cut their price target on Colgate-Palmolive from $90.00 to $80.00 in a research report on Thursday, October 13th. Eight equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $83.00.

Colgate-Palmolive Stock Up 1.8 %

Shares of NYSE CL opened at $79.98 on Friday. The company has a debt-to-equity ratio of 7.81, a quick ratio of 0.71 and a current ratio of 1.17. The firm has a market capitalization of $66.80 billion, a price-to-earnings ratio of 34.77, a PEG ratio of 6.96 and a beta of 0.51. The stock has a 50 day moving average price of $76.99 and a 200 day moving average price of $76.99. Colgate-Palmolive has a 52-week low of $67.84 and a 52-week high of $85.04.

Institutional Investors Weigh In On Colgate-Palmolive

Institutional investors have recently modified their holdings of the company. Third Point LLC lifted its position in Colgate-Palmolive by 481.9% in the third quarter. Third Point LLC now owns 11,550,000 shares of the company’s stock valued at $811,388,000 after acquiring an additional 9,565,000 shares during the last quarter. Renaissance Technologies LLC lifted its position in Colgate-Palmolive by 151.6% in the first quarter. Renaissance Technologies LLC now owns 5,688,786 shares of the company’s stock valued at $431,381,000 after acquiring an additional 3,427,400 shares during the last quarter. Deutsche Bank AG lifted its position in Colgate-Palmolive by 33.3% in the second quarter. Deutsche Bank AG now owns 10,441,903 shares of the company’s stock valued at $836,815,000 after acquiring an additional 2,610,321 shares during the last quarter. Caisse DE Depot ET Placement DU Quebec lifted its position in Colgate-Palmolive by 121.9% in the second quarter. Caisse DE Depot ET Placement DU Quebec now owns 3,979,600 shares of the company’s stock valued at $318,925,000 after acquiring an additional 2,186,313 shares during the last quarter. Finally, Two Sigma Investments LP lifted its position in Colgate-Palmolive by 512.1% in the third quarter. Two Sigma Investments LP now owns 2,417,899 shares of the company’s stock valued at $169,857,000 after acquiring an additional 2,022,860 shares during the last quarter. 77.63% of the stock is owned by hedge funds and other institutional investors.

About Colgate-Palmolive

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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. 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.

See Also

Earnings History and Estimates for Colgate-Palmolive (NYSE:CL)

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