Wall Street brokerages expect Colgate-Palmolive (NYSE:CL) to post sales of $3.98 billion for the current fiscal quarter, Zacks reports. Six analysts have issued estimates for Colgate-Palmolive’s earnings, with the lowest sales estimate coming in at $3.89 billion and the highest estimate coming in at $4.08 billion. Colgate-Palmolive reported sales of $3.83 billion in the same quarter last year, which indicates a positive year-over-year growth rate of 3.9%. The business is scheduled to announce its next quarterly earnings report before the market opens on Friday, July 27th.
According to Zacks, analysts expect that Colgate-Palmolive will report full year sales of $16.13 billion for the current year, with estimates ranging from $15.67 billion to $16.43 billion. For the next financial year, analysts anticipate that the company will report sales of $16.53 billion per share, with estimates ranging from $15.83 billion to $17.00 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of research firms that follow Colgate-Palmolive.
Colgate-Palmolive (NYSE:CL) last posted its quarterly earnings data on Friday, April 27th. The company reported $0.74 EPS for the quarter, topping the consensus estimate of $0.73 by $0.01. Colgate-Palmolive had a return on equity of 1,486.69% and a net margin of 13.30%. The firm had revenue of $4 billion for the quarter, compared to the consensus estimate of $4.01 billion. During the same quarter last year, the company earned $0.67 earnings per share. The business’s revenue for the quarter was up 6.4% compared to the same quarter last year.
In related news, SVP John J. Huston sold 16,079 shares of the firm’s stock in a transaction that occurred on Thursday, May 10th. The stock was sold at an average price of $62.32, for a total transaction of $1,002,043.28. Following the completion of the sale, the senior vice president now directly owns 84,512 shares of the company’s stock, valued at approximately $5,266,787.84. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Daniel B. Marsili sold 19,500 shares of the firm’s stock in a transaction that occurred on Monday, April 16th. The stock was sold at an average price of $71.85, for a total value of $1,401,075.00. Following the sale, the insider now directly owns 77,935 shares of the company’s stock, valued at $5,599,629.75. The disclosure for this sale can be found here. Insiders have sold a total of 161,579 shares of company stock valued at $10,215,058 over the last three months. 1.02% of the stock is owned by corporate insiders.
Several hedge funds have recently modified their holdings of the stock. Advisor Group Inc. raised its position in Colgate-Palmolive by 24.5% during the 4th quarter. Advisor Group Inc. now owns 77,352 shares of the company’s stock valued at $5,838,000 after purchasing an additional 15,212 shares in the last quarter. Summit Global Investments increased its holdings in shares of Colgate-Palmolive by 27.8% in the 1st quarter. Summit Global Investments now owns 60,666 shares of the company’s stock valued at $4,348,000 after acquiring an additional 13,191 shares during the period. CI Investments Inc. increased its holdings in shares of Colgate-Palmolive by 63.8% in the 1st quarter. CI Investments Inc. now owns 166,360 shares of the company’s stock valued at $11,925,000 after acquiring an additional 64,800 shares during the period. Two Sigma Advisers LP increased its holdings in shares of Colgate-Palmolive by 25.1% in the 4th quarter. Two Sigma Advisers LP now owns 1,513,711 shares of the company’s stock valued at $114,209,000 after acquiring an additional 303,690 shares during the period. Finally, LPL Financial LLC increased its holdings in shares of Colgate-Palmolive by 15.2% in the 4th quarter. LPL Financial LLC now owns 242,844 shares of the company’s stock valued at $18,323,000 after acquiring an additional 32,048 shares during the period. 73.07% of the stock is owned by hedge funds and other institutional investors.
NYSE:CL opened at $64.63 on Monday. The company has a debt-to-equity ratio of 64.85, a current ratio of 1.08 and a quick ratio of 0.75. Colgate-Palmolive has a 12-month low of $61.28 and a 12-month high of $77.91. The stock has a market cap of $56.38 billion, a P/E ratio of 22.52, a price-to-earnings-growth ratio of 2.62 and a beta of 0.75.
Colgate-Palmolive announced that its Board of Directors has initiated a share buyback program on Monday, June 18th that allows the company to buyback $5.00 billion in shares. This buyback authorization allows the company to repurchase up to 9% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board believes its shares are undervalued.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, August 15th. Stockholders of record on Wednesday, July 18th will be issued a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a dividend yield of 2.60%. The ex-dividend date of this dividend is Tuesday, July 17th. Colgate-Palmolive’s dividend payout ratio (DPR) is 58.54%.
Colgate-Palmolive Company, together with its subsidiaries, manufactures and sells consumer products worldwide. It operates through two segments, Oral, Personal and Home Care; and Pet Nutrition. The company offers oral care products, including toothpastes, toothbrushes, and mouthwashes, as well as pharmaceutical products for dentists and other oral health professionals; personal care products comprising bar and liquid hand soaps, shower gels, shampoos, conditioners, and deodorants and antiperspirants; and home care products, such as laundry and dishwashing detergents, fabric conditioners, household cleaners, and other related products.
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