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

Colgate-Palmolive (NYSE:CL) released its earnings results on Friday. The company reported $0.86 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.82 by $0.04, RTT News reports. Colgate-Palmolive had a return on equity of 509.75% and a net margin of 11.82%. The firm had revenue of $5.07 billion for the quarter, compared to the consensus estimate of $4.96 billion. During the same period in the prior year, the firm earned $0.73 EPS. The firm’s revenue 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 %

Shares of NYSE:CL traded up $1.72 during mid-day trading on Friday, reaching $91.01. 5,581,199 shares of the company were exchanged, compared to its average volume of 4,584,137. The company has a debt-to-equity ratio of 8.59, a current ratio of 1.11 and a quick ratio of 0.71. The firm has a market cap of $74.81 billion, a price-to-earnings ratio of 32.59, a P/E/G ratio of 3.34 and a beta of 0.42. The firm’s 50-day simple moving average is $87.51 and its 200 day simple moving average is $81.30. Colgate-Palmolive has a 1 year low of $67.62 and a 1 year high of $92.25.

Colgate-Palmolive Increases Dividend

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

Insider Buying and Selling

In other Colgate-Palmolive news, insider Jennifer Daniels sold 61,633 shares of the firm’s stock in a transaction that occurred on Thursday, February 1st. The shares were sold at an average price of $83.93, for a total value of $5,172,857.69. Following the completion of the transaction, the insider now owns 57,948 shares of the company’s stock, valued at approximately $4,863,575.64. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other Colgate-Palmolive news, CEO Noel R. Wallace sold 69,948 shares of the firm’s stock in a transaction that occurred on Tuesday, February 20th. The shares were sold at an average price of $84.22, for a total value of $5,891,020.56. Following the completion of the transaction, the chief executive officer now owns 286,881 shares of the company’s stock, valued at approximately $24,161,117.82. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Jennifer Daniels sold 61,633 shares of the firm’s 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 completion of the transaction, the insider now directly owns 57,948 shares of the company’s stock, valued at approximately $4,863,575.64. The disclosure for this sale can be found here. In the last quarter, insiders sold 232,371 shares of company stock valued at $19,505,099. Company insiders own 0.34% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have commented on CL shares. Evercore ISI upped their price target on shares of Colgate-Palmolive from $90.00 to $96.00 and gave the company an “outperform” rating in a report on Monday, April 8th. TheStreet raised shares of Colgate-Palmolive from a “c+” rating to a “b+” rating in a report on Friday, January 26th. Wells Fargo & Company upped their price target on shares of Colgate-Palmolive from $80.00 to $88.00 and gave the stock an “equal weight” rating in a research report on Monday, January 29th. StockNews.com downgraded shares of Colgate-Palmolive from a “strong-buy” rating to a “buy” rating in a report on Tuesday, February 20th. Finally, JPMorgan Chase & Co. increased their price objective on shares of Colgate-Palmolive from $88.00 to $90.00 and gave the company an “overweight” rating in a report on Thursday, January 18th. Three investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $89.50.

Colgate-Palmolive Company Profile

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.