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

Colgate-Palmolive (NYSE:CL) updated its FY 2024 earnings guidance on Friday. The company provided EPS guidance of 3.490-3.590 for the period, compared to the consensus EPS estimate of 3.530. The company issued revenue guidance of $19.8 billion-$20.4 billion, compared to the consensus revenue estimate of $20.2 billion.

Wall Street Analysts Forecast Growth

CL has been the subject of several analyst reports. TD Cowen assumed coverage on shares of Colgate-Palmolive in a research note on Tuesday, July 23rd. They issued a buy rating and a $110.00 target price for the company. HSBC reissued a hold rating on shares of Colgate-Palmolive in a research report on Friday. Citigroup raised their target price on shares of Colgate-Palmolive from $103.00 to $112.00 and gave the stock a buy rating in a research report on Wednesday, July 10th. Argus boosted their price target on Colgate-Palmolive from $97.00 to $107.00 and gave the company a buy rating in a report on Wednesday, May 15th. Finally, Royal Bank of Canada increased their price target on Colgate-Palmolive from $88.00 to $95.00 and gave the stock a sector perform rating in a research note on Monday, April 29th. Five investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of Moderate Buy and a consensus price target of $98.58.

Colgate-Palmolive Trading Up 3.0 %

Shares of Colgate-Palmolive stock traded up $2.90 during trading hours on Friday, reaching $99.39. The stock had a trading volume of 7,137,452 shares, compared to its average volume of 3,712,450. The firm has a market capitalization of $81.54 billion, a price-to-earnings ratio of 31.45, a P/E/G ratio of 3.59 and a beta of 0.39. Colgate-Palmolive has a 1 year low of $67.62 and a 1 year high of $100.61. The company has a current ratio of 1.06, a quick ratio of 0.70 and a debt-to-equity ratio of 13.21. The firm has a 50 day simple moving average of $95.83 and a two-hundred day simple moving average of $90.13.

Colgate-Palmolive (NYSE:CL) last posted its quarterly earnings results on Friday, July 26th. The company reported $0.91 EPS for the quarter, beating the consensus estimate of $0.87 by $0.04. Colgate-Palmolive had a net margin of 13.22% and a return on equity of 485.40%. The firm had revenue of $5.06 billion for the quarter, compared to analyst estimates of $5 billion. During the same quarter last year, the firm posted $0.77 earnings per share. Colgate-Palmolive’s revenue for the quarter was up 4.9% compared to the same quarter last year. As a group, equities research analysts anticipate that Colgate-Palmolive will post 3.55 earnings per share for the current year.

Colgate-Palmolive Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, August 15th. Investors of record on Friday, July 19th will be given a dividend of $0.50 per share. The ex-dividend date of this dividend is Friday, July 19th. This represents a $2.00 dividend on an annualized basis and a yield of 2.01%. Colgate-Palmolive’s dividend payout ratio (DPR) is 63.29%.

Insider Activity at Colgate-Palmolive

In other Colgate-Palmolive news, insider John W. Kooyman sold 3,497 shares of the business’s stock in a transaction dated Tuesday, May 7th. The stock was sold at an average price of $93.47, for a total transaction of $326,864.59. Following the transaction, the insider now owns 3,181 shares in the company, valued at $297,328.07. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, insider John W. Kooyman sold 3,497 shares of Colgate-Palmolive stock in a transaction that occurred on Tuesday, May 7th. The shares were sold at an average price of $93.47, for a total transaction of $326,864.59. Following the sale, the insider now owns 3,181 shares in the company, valued at $297,328.07. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Sally Massey sold 12,226 shares of the business’s stock in a transaction on Thursday, May 9th. The stock was sold at an average price of $94.06, for a total transaction of $1,149,977.56. Following the transaction, the insider now directly owns 13,924 shares in the company, valued at $1,309,691.44. The disclosure for this sale can be found here. 0.34% of the stock is owned by 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.