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

Colgate-Palmolive (NYSE:CL) issued an update on its FY 2024 earnings guidance on Friday morning. The company provided earnings per share (EPS) guidance of 3.490-3.590 for the period, compared to the consensus 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.

Analysts Set New Price Targets

Several analysts have commented on the stock. Royal Bank of Canada lifted their price objective on shares of Colgate-Palmolive from $88.00 to $95.00 and gave the stock a sector perform rating in a research report on Monday, April 29th. Evercore ISI boosted their price target on shares of Colgate-Palmolive from $100.00 to $106.00 and gave the company an outperform rating in a research report on Thursday, July 18th. Jefferies Financial Group lowered shares of Colgate-Palmolive from a buy rating to a hold rating and decreased their target price for the stock from $103.00 to $95.00 in a report on Wednesday. Wells Fargo & Company upped their target price on shares of Colgate-Palmolive from $92.00 to $97.00 and gave the stock an equal weight rating in a report on Wednesday, July 10th. Finally, Stifel Nicolaus upped their target price on shares of Colgate-Palmolive from $95.00 to $105.00 and gave the stock a buy rating in a report on Monday, July 22nd. Five equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of Moderate Buy and a consensus target price of $98.58.

Colgate-Palmolive Stock Up 3.0 %

NYSE:CL traded up $2.90 on Friday, reaching $99.39. 7,137,452 shares of the stock traded hands, compared to its average volume of 3,712,450. The company’s fifty day simple moving average is $95.83 and its 200 day simple moving average is $90.06. Colgate-Palmolive has a 12 month low of $67.62 and a 12 month high of $100.61. The company has a market capitalization of $81.54 billion, a price-to-earnings ratio of 31.45, a PEG ratio of 3.48 and a beta of 0.39. The company has a current ratio of 1.06, a quick ratio of 0.70 and a debt-to-equity ratio of 13.21.

Colgate-Palmolive (NYSE:CL) last announced its quarterly earnings results on Friday, July 26th. The company reported $0.91 EPS for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to analyst estimates of $5 billion. During the same period in the previous year, the business posted $0.77 earnings per share. The business’s revenue for the quarter was up 4.9% on a year-over-year basis. Equities analysts predict that Colgate-Palmolive will post 3.53 EPS for the current fiscal year.

Colgate-Palmolive Dividend Announcement

The firm also recently announced 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 is Friday, July 19th. This represents a $2.00 annualized dividend and a yield of 2.01%. Colgate-Palmolive’s dividend payout ratio (DPR) is 63.29%.

Insider Buying and Selling at Colgate-Palmolive

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 transaction, the insider now owns 3,181 shares of the company’s stock, valued at $297,328.07. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, insider John W. Kooyman sold 3,497 shares of the business’s stock in a transaction on Tuesday, May 7th. The shares were sold at an average price of $93.47, for a total value of $326,864.59. Following the transaction, the insider now owns 3,181 shares of the company’s stock, valued at $297,328.07. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 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 completion of the transaction, the insider now directly owns 13,924 shares in the company, valued at approximately $1,309,691.44. The disclosure for this sale can be found here. Insiders own 0.34% of the company’s stock.

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.