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

Colgate-Palmolive (NYSE:CL) issued an update on its FY 2024 earnings guidance on Friday morning. The company provided earnings per share guidance of 3.550-3.590 for the period, compared to the consensus earnings per share estimate of 3.580. The company issued revenue guidance of $20.0 billion-$20.4 billion, compared to the consensus revenue estimate of $20.2 billion.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on CL. TD Cowen upped their target price on Colgate-Palmolive from $110.00 to $115.00 and gave the company a “buy” rating in a report on Tuesday, July 30th. JPMorgan Chase & Co. increased their target price on shares of Colgate-Palmolive from $113.00 to $114.00 and gave the stock an “overweight” rating in a research report on Friday, October 11th. Sanford C. Bernstein boosted their price target on shares of Colgate-Palmolive from $100.00 to $103.00 and gave the company a “market perform” rating in a report on Tuesday, July 30th. Citigroup increased their price objective on Colgate-Palmolive from $103.00 to $112.00 and gave the stock a “buy” rating in a report on Wednesday, July 10th. Finally, Redburn Atlantic upgraded Colgate-Palmolive to a “hold” rating in a research note on Thursday, August 1st. One analyst has rated the stock with a sell rating, eight have issued a hold rating and fourteen have given a buy rating to the company. According to MarketBeat.com, Colgate-Palmolive presently has a consensus rating of “Moderate Buy” and a consensus price target of $106.00.

Colgate-Palmolive Stock Up 0.8 %

Colgate-Palmolive stock opened at $99.75 on Friday. The company has a debt-to-equity ratio of 16.90, a current ratio of 1.06 and a quick ratio of 0.70. Colgate-Palmolive has a fifty-two week low of $71.46 and a fifty-two week high of $109.30. The firm has a fifty day moving average price of $103.31 and a two-hundred day moving average price of $97.84. The firm has a market cap of $81.84 billion, a price-to-earnings ratio of 31.57, a P/E/G ratio of 3.54 and a beta of 0.40.

Colgate-Palmolive (NYSE:CL) last posted its quarterly earnings data on Friday, July 26th. The company reported $0.91 earnings per share for the quarter, topping the consensus estimate of $0.87 by $0.04. The business had revenue of $5.06 billion during the quarter, compared to analysts’ expectations of $5 billion. Colgate-Palmolive had a return on equity of 470.19% and a net margin of 14.21%. The firm’s revenue was up 4.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.77 EPS. As a group, analysts forecast that Colgate-Palmolive will post 3.57 earnings per share for the current year.

Colgate-Palmolive Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Friday, October 18th will be given a $0.50 dividend. The ex-dividend date is Friday, October 18th. This represents a $2.00 annualized dividend and a dividend yield of 2.01%. Colgate-Palmolive’s dividend payout ratio is 63.29%.

Insider Buying and Selling

In other Colgate-Palmolive news, insider Panagiotis Tsourapas sold 14,794 shares of the firm’s stock in a transaction on Thursday, August 8th. The shares were sold at an average price of $102.94, for a total value of $1,522,894.36. Following the sale, the insider now directly owns 5,146 shares in the company, valued at $529,729.24. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, insider Panagiotis Tsourapas sold 14,794 shares of the business’s stock in a transaction that occurred on Thursday, August 8th. The stock was sold at an average price of $102.94, for a total transaction of $1,522,894.36. Following the sale, the insider now directly owns 5,146 shares in the company, valued at approximately $529,729.24. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Martina Hundmejean sold 2,313 shares of the firm’s stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $103.86, for a total value of $240,228.18. Following the completion of the transaction, the director now directly owns 11,755 shares of the company’s stock, valued at approximately $1,220,874.30. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 43,490 shares of company stock valued at $4,486,063. 0.34% of the stock is owned by company insiders.

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.