Q1 2024 Earnings Estimate for Colgate-Palmolive Issued By Zacks Research (NYSE:CL)

Colgate-Palmolive (NYSE:CLFree Report) – Investment analysts at Zacks Research upped their Q1 2024 earnings estimates for Colgate-Palmolive in a report released on Friday, February 9th. Zacks Research analyst R. Lohia now forecasts that the company will post earnings of $0.82 per share for the quarter, up from their prior forecast of $0.80. The consensus estimate for Colgate-Palmolive’s current full-year earnings is $3.48 per share. Zacks Research also issued estimates for Colgate-Palmolive’s Q2 2024 earnings at $0.86 EPS, Q4 2024 earnings at $0.92 EPS, FY2024 earnings at $3.47 EPS, Q1 2025 earnings at $0.89 EPS, Q2 2025 earnings at $0.93 EPS, Q3 2025 earnings at $0.95 EPS, Q4 2025 earnings at $1.02 EPS, FY2025 earnings at $3.79 EPS and FY2026 earnings at $4.15 EPS.

Colgate-Palmolive (NYSE:CLGet Free Report) last issued its earnings results on Friday, January 26th. The company reported $0.87 earnings per share for the quarter, topping analysts’ consensus estimates of $0.85 by $0.02. The company had revenue of $4.95 billion for the quarter, compared to analysts’ expectations of $4.89 billion. Colgate-Palmolive had a net margin of 11.82% and a return on equity of 509.75%. The firm’s revenue was up 6.9% compared to the same quarter last year. During the same period in the prior year, the company earned $0.77 earnings per share.

A number of other brokerages also recently weighed in on CL. Barclays upped their price target on shares of Colgate-Palmolive from $75.00 to $82.00 and gave the company an “equal weight” rating in a report on Tuesday, January 16th. Jefferies Financial Group began coverage on shares of Colgate-Palmolive in a research note on Monday, November 13th. They set a “buy” rating and a $87.00 price objective for the company. Bank of America raised shares of Colgate-Palmolive from a “neutral” rating to a “buy” rating and set a $90.00 price objective for the company in a research note on Friday, December 15th. Royal Bank of Canada upped their price objective on shares of Colgate-Palmolive from $79.00 to $80.00 and gave the company a “sector perform” rating in a research note on Monday, October 30th. Finally, UBS Group upped their price objective on shares of Colgate-Palmolive from $93.00 to $95.00 and gave the company a “buy” rating in a research note on Monday, January 29th. Three investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $86.93.

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Colgate-Palmolive Stock Performance

Shares of CL opened at $83.55 on Monday. The firm has a 50-day moving average price of $80.48 and a 200 day moving average price of $76.32. The firm has a market capitalization of $68.79 billion, a PE ratio of 30.05, a P/E/G ratio of 3.66 and a beta of 0.42. The company has a quick ratio of 0.26, a current ratio of 0.41 and a debt-to-equity ratio of 21.40. Colgate-Palmolive has a 52-week low of $67.62 and a 52-week high of $86.14.

Colgate-Palmolive Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, February 15th. Investors of record on Monday, January 22nd will be given a dividend of $0.48 per share. The ex-dividend date of this dividend is Friday, January 19th. This represents a $1.92 annualized dividend and a yield of 2.30%. Colgate-Palmolive’s dividend payout ratio (DPR) is 69.06%.

Insider Buying and Selling

In related news, insider Panagiotis Tsourapas sold 15,000 shares of the company’s stock in a transaction dated Tuesday, November 28th. The shares were sold at an average price of $77.83, for a total transaction of $1,167,450.00. Following the transaction, the insider now owns 12,371 shares in the company, valued at approximately $962,834.93. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In related news, insider Jennifer Daniels sold 3,800 shares of the stock in a transaction that occurred on Thursday, November 30th. The stock was sold at an average price of $79.01, for a total transaction of $300,238.00. Following the completion of the sale, the insider now directly owns 58,193 shares of the company’s stock, valued at approximately $4,597,828.93. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Panagiotis Tsourapas sold 15,000 shares of the stock in a transaction that occurred on Tuesday, November 28th. The stock was sold at an average price of $77.83, for a total value of $1,167,450.00. Following the sale, the insider now directly owns 12,371 shares of the company’s stock, valued at $962,834.93. The disclosure for this sale can be found here. Insiders have sold a total of 92,123 shares of company stock worth $7,635,941 in the last 90 days. Corporate insiders own 0.34% of the company’s stock.

Hedge Funds Weigh In On Colgate-Palmolive

Large investors have recently bought and sold shares of the company. Partners Capital Investment Group LLP bought a new stake in Colgate-Palmolive in the 4th quarter valued at $218,000. Madison Asset Management LLC increased its position in Colgate-Palmolive by 115.8% during the 4th quarter. Madison Asset Management LLC now owns 271,887 shares of the company’s stock worth $21,672,000 after buying an additional 145,924 shares during the period. Qtron Investments LLC bought a new position in Colgate-Palmolive during the 4th quarter worth $1,088,000. Dorsey & Whitney Trust CO LLC bought a new position in Colgate-Palmolive during the 4th quarter worth $218,000. Finally, Bank of Nova Scotia Trust Co. bought a new position in Colgate-Palmolive during the 4th quarter worth $227,000. Institutional investors and hedge funds own 78.36% of the company’s stock.

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.

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

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