Zacks: Brokerages Anticipate Colgate-Palmolive (CL) Will Post Quarterly Sales of $3.93 Billion

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Brokerages expect Colgate-Palmolive (NYSE:CL) to report $3.93 billion in sales for the current quarter, according to Zacks. Six analysts have made estimates for Colgate-Palmolive’s earnings, with the lowest sales estimate coming in at $3.87 billion and the highest estimate coming in at $4.04 billion. Colgate-Palmolive reported sales of $3.97 billion during the same quarter last year, which would suggest a negative year over year growth rate of 1%. The business is scheduled to issue its next quarterly earnings report on Friday, October 26th.

On average, analysts expect that Colgate-Palmolive will report full year sales of $15.68 billion for the current fiscal year, with estimates ranging from $15.57 billion to $15.89 billion. For the next financial year, analysts anticipate that the business will post sales of $15.90 billion, with estimates ranging from $15.60 billion to $16.42 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side analysts that follow Colgate-Palmolive.

Colgate-Palmolive (NYSE:CL) last released its quarterly earnings data on Friday, July 27th. The company reported $0.77 EPS for the quarter, meeting analysts’ consensus estimates of $0.77. Colgate-Palmolive had a net margin of 13.97% and a return on equity of 2,494.79%. The company had revenue of $3.89 billion during the quarter, compared to analyst estimates of $3.91 billion. During the same period last year, the business earned $0.72 earnings per share. Colgate-Palmolive’s revenue was up 1.6% compared to the same quarter last year.

A number of research firms have recently commented on CL. Barclays set a $64.00 price objective on shares of Colgate-Palmolive and gave the company a “hold” rating in a research report on Monday, July 30th. Zacks Investment Research lowered shares of Colgate-Palmolive from a “hold” rating to a “sell” rating in a research report on Monday, July 2nd. UBS Group upgraded shares of Colgate-Palmolive from a “neutral” rating to a “buy” rating and raised their price objective for the company from $70.00 to $75.00 in a research report on Wednesday, July 18th. Macquarie lowered shares of Colgate-Palmolive from an “outperform” rating to a “neutral” rating and cut their price objective for the company from $74.00 to $65.00 in a research report on Monday, July 30th. Finally, Atlantic Securities began coverage on shares of Colgate-Palmolive in a research report on Thursday, September 20th. They issued a “neutral” rating and a $71.00 price objective for the company. Three research analysts have rated the stock with a sell rating, twelve have given a hold rating and two have given a buy rating to the stock. The company has an average rating of “Hold” and an average target price of $71.21.

Shares of CL stock traded up $0.19 during trading hours on Friday, reaching $62.54. The stock had a trading volume of 4,293,248 shares, compared to its average volume of 3,957,348. The company has a current ratio of 1.06, a quick ratio of 0.74 and a debt-to-equity ratio of -34.49. Colgate-Palmolive has a 12 month low of $61.28 and a 12 month high of $77.91. The firm has a market capitalization of $58.10 billion, a P/E ratio of 21.79, a price-to-earnings-growth ratio of 2.99 and a beta of 0.72.

Colgate-Palmolive announced that its Board of Directors has initiated a stock repurchase plan on Monday, June 18th that authorizes the company to buyback $5.00 billion in shares. This buyback authorization authorizes the company to repurchase up to 9% of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s board of directors believes its stock is undervalued.

The business also recently announced a quarterly dividend, which will be paid on Thursday, November 15th. Shareholders of record on Friday, October 19th will be given a dividend of $0.42 per share. The ex-dividend date is Thursday, October 18th. This represents a $1.68 annualized dividend and a yield of 2.69%. Colgate-Palmolive’s payout ratio is presently 58.54%.

In other Colgate-Palmolive news, insider Daniel B. Marsili sold 19,500 shares of Colgate-Palmolive stock in a transaction that occurred on Monday, July 16th. The shares were sold at an average price of $65.40, for a total transaction of $1,275,300.00. Following the completion of the sale, the insider now directly owns 78,065 shares in the company, valued at $5,105,451. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, COO Noel R. Wallace sold 44,625 shares of Colgate-Palmolive stock in a transaction that occurred on Wednesday, August 1st. The shares were sold at an average price of $66.22, for a total transaction of $2,955,067.50. Following the sale, the chief operating officer now owns 235,026 shares of the company’s stock, valued at $15,563,421.72. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 415,279 shares of company stock valued at $27,384,156. 1.02% of the stock is currently owned by company insiders.

A number of institutional investors have recently made changes to their positions in CL. Rainier Group Investment Advisory LLC bought a new stake in Colgate-Palmolive during the first quarter valued at approximately $107,000. CSat Investment Advisory L.P. purchased a new position in shares of Colgate-Palmolive during the second quarter worth approximately $111,000. Bridgeworth LLC purchased a new position in shares of Colgate-Palmolive during the second quarter worth approximately $120,000. Fort L.P. purchased a new position in shares of Colgate-Palmolive during the second quarter worth approximately $123,000. Finally, O Brien Wealth Partners LLC purchased a new position in shares of Colgate-Palmolive during the third quarter worth approximately $123,000. Institutional investors and hedge funds own 74.54% of the company’s stock.

Colgate-Palmolive Company Profile

Colgate-Palmolive Company, together with its subsidiaries, manufactures and sells consumer products worldwide. It operates through two segments, Oral, Personal and Home Care; and Pet Nutrition. The company offers oral care products, including toothpastes, toothbrushes, and mouthwashes, as well as pharmaceutical products for dentists and other oral health professionals; personal care products comprising bar and liquid hand soaps, shower gels, shampoos, conditioners, and deodorants and antiperspirants; and home care products, such as laundry and dishwashing detergents, fabric conditioners, household cleaners, and other related products.

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