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

Colgate-Palmolive (NYSE:CL) released its earnings results on Friday. The company reported $0.91 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.87 by $0.04, RTT News reports. The firm had revenue of $5.06 billion during the quarter, compared to analyst estimates of $5 billion. Colgate-Palmolive had a net margin of 13.22% and a return on equity of 485.40%. The business’s revenue was up 4.9% on a year-over-year basis. During the same quarter last year, the business earned $0.77 EPS. Colgate-Palmolive updated its FY 2024 guidance to 3.490-3.590 EPS.

Colgate-Palmolive Stock Performance

NYSE:CL traded up $2.91 during trading hours on Friday, hitting $99.40. 7,137,448 shares of the company were exchanged, compared to its average volume of 4,397,363. The stock has a market capitalization of $81.55 billion, a price-to-earnings ratio of 31.46, a PEG ratio of 3.49 and a beta of 0.39. Colgate-Palmolive has a 52-week low of $67.62 and a 52-week high of $100.61. The company has a debt-to-equity ratio of 13.21, a current ratio of 1.06 and a quick ratio of 0.70. The company’s 50 day moving average price is $95.83 and its 200-day moving average price is $90.06.

Colgate-Palmolive Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, August 15th. Shareholders of record on Friday, July 19th will be given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 2.01%. The ex-dividend date of this dividend is Friday, July 19th. Colgate-Palmolive’s dividend payout ratio is presently 63.29%.

Insiders Place Their Bets

In other Colgate-Palmolive news, insider Sally Massey sold 12,226 shares of the business’s stock in a transaction that occurred on Thursday, May 9th. The shares were sold at an average price of $94.06, for a total transaction of $1,149,977.56. Following the sale, the insider now owns 13,924 shares of the company’s stock, valued at approximately $1,309,691.44. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Colgate-Palmolive 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 completion of the sale, the insider now directly owns 3,181 shares in the company, valued at approximately $297,328.07. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Sally Massey sold 12,226 shares of Colgate-Palmolive stock in a transaction that occurred on Thursday, May 9th. The shares were sold at an average price of $94.06, for a total transaction of $1,149,977.56. Following the sale, the insider now owns 13,924 shares of the company’s stock, valued at $1,309,691.44. The disclosure for this sale can be found here. 0.34% of the stock is owned by insiders.

Analyst Ratings Changes

CL has been the subject of several analyst reports. Morgan Stanley raised their target price on shares of Colgate-Palmolive from $101.00 to $103.00 and gave the stock an “overweight” rating in a report on Tuesday, May 28th. Bank of America lifted their price objective on shares of Colgate-Palmolive from $100.00 to $110.00 and gave the company a “buy” rating in a report on Wednesday, July 10th. Argus lifted their price objective on shares of Colgate-Palmolive from $97.00 to $107.00 and gave the company a “buy” rating in a report on Wednesday, May 15th. Citigroup lifted their price objective on shares of Colgate-Palmolive from $103.00 to $112.00 and gave the company a “buy” rating in a report on Wednesday, July 10th. Finally, Wells Fargo & Company lifted their price objective on shares of Colgate-Palmolive from $92.00 to $97.00 and gave the company an “equal weight” rating in a report on Wednesday, July 10th. Five analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $98.58.

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.