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

Colgate-Palmolive (NYSE:CL) posted its earnings results on Friday. The company reported $0.86 EPS for the quarter, topping analysts’ consensus estimates of $0.82 by $0.04, RTT News reports. The business had revenue of $5.07 billion during the quarter, compared to the consensus estimate of $4.96 billion. Colgate-Palmolive had a net margin of 11.82% and a return on equity of 509.75%. The firm’s revenue was up 6.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.73 EPS. Colgate-Palmolive updated its FY 2024 guidance to EPS.

Colgate-Palmolive Price Performance

Shares of CL traded up $1.73 during mid-day trading on Friday, hitting $91.02. 5,264,556 shares of the stock were exchanged, compared to its average volume of 4,579,159. The company has a debt-to-equity ratio of 8.59, a quick ratio of 0.71 and a current ratio of 1.11. The company has a market cap of $74.82 billion, a PE ratio of 32.59, a price-to-earnings-growth ratio of 3.34 and a beta of 0.42. Colgate-Palmolive has a 52-week low of $67.62 and a 52-week high of $92.25. The firm has a 50-day moving average of $87.51 and a two-hundred day moving average of $81.30.

Colgate-Palmolive Increases Dividend

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

Insider Activity at Colgate-Palmolive

In related news, EVP Gregory Malcolm sold 8,930 shares of the company’s stock in a transaction on Thursday, February 1st. The shares were sold at an average price of $85.35, for a total transaction of $762,175.50. Following the sale, the executive vice president now owns 8,043 shares of the company’s stock, valued at $686,470.05. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, EVP Gregory Malcolm sold 8,930 shares of Colgate-Palmolive stock in a transaction dated Thursday, February 1st. The stock was sold at an average price of $85.35, for a total value of $762,175.50. Following the completion of the transaction, the executive vice president now owns 8,043 shares in the company, valued at $686,470.05. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Noel R. Wallace sold 69,948 shares of the company’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 sale, the chief executive officer now owns 286,881 shares in the company, valued at $24,161,117.82. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 232,371 shares of company stock valued at $19,505,099. 0.34% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

CL has been the subject of a number of research reports. Morgan Stanley upped their target price on shares of Colgate-Palmolive from $85.00 to $93.00 and gave the company an “overweight” rating in a report on Monday, January 29th. The Goldman Sachs Group began coverage on Colgate-Palmolive in a research report on Friday, March 1st. They set a “buy” rating and a $93.00 target price on the stock. Wells Fargo & Company upped their price target on Colgate-Palmolive from $80.00 to $88.00 and gave the stock an “equal weight” rating in a research report on Monday, January 29th. Raymond James raised Colgate-Palmolive from a “market perform” rating to an “outperform” rating and set a $91.00 price objective on the stock in a research report on Monday, January 29th. Finally, Stifel Nicolaus lifted their price target on shares of Colgate-Palmolive from $89.00 to $94.00 and gave the company a “buy” rating in a report on Wednesday, April 10th. Three research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus 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.