Colgate-Palmolive (NYSE:CL) Issues Quarterly Earnings Results

Colgate-Palmolive (NYSE:CL) announced its quarterly earnings data on Friday. The company reported $0.86 earnings per share for the quarter, topping the consensus estimate of $0.82 by $0.04, RTT News reports. The company had revenue of $5.07 billion during the quarter, compared to analyst estimates 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 for the quarter was up 6.2% compared to the same quarter last year. During the same period last year, the business earned $0.73 EPS. Colgate-Palmolive updated its FY 2024 guidance to EPS.

Colgate-Palmolive Price Performance

Shares of NYSE CL traded up $1.72 during midday trading on Friday, reaching $91.01. The company’s stock had a trading volume of 5,581,199 shares, compared to its average volume of 4,584,137. The company has a 50 day moving average price of $87.51 and a 200 day moving average price of $81.30. The company has a market cap of $74.81 billion, a price-to-earnings ratio of 32.59, a price-to-earnings-growth ratio of 3.34 and a beta of 0.42. The company has a current ratio of 1.11, a quick ratio of 0.71 and a debt-to-equity ratio of 8.59. Colgate-Palmolive has a one year low of $67.62 and a one year high of $92.25.

Colgate-Palmolive Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, May 15th. Investors of record on Monday, April 22nd will be issued a $0.50 dividend. This is an increase from Colgate-Palmolive’s previous quarterly dividend of $0.48. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.20%. The ex-dividend date of this dividend is Friday, April 19th. Colgate-Palmolive’s payout ratio is presently 71.94%.

Insider Transactions at Colgate-Palmolive

In related news, EVP Gregory Malcolm sold 8,930 shares of the business’s stock in a transaction that occurred 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 transaction, the executive vice president now directly owns 8,043 shares of the company’s stock, valued at $686,470.05. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Colgate-Palmolive news, Director C Martin Harris sold 2,760 shares of Colgate-Palmolive stock in a transaction that occurred on Wednesday, January 31st. The shares were sold at an average price of $84.50, for a total value of $233,220.00. Following the completion of the sale, the director now directly owns 19,272 shares in the company, valued at $1,628,484. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Gregory Malcolm sold 8,930 shares of Colgate-Palmolive stock in a transaction that occurred 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 completion of the sale, the executive vice president now owns 8,043 shares of the company’s stock, valued at $686,470.05. The disclosure for this sale can be found here. Insiders have sold a total of 232,371 shares of company stock valued at $19,505,099 over the last ninety days. Corporate insiders own 0.34% of the company’s stock.

Analysts Set New Price Targets

CL has been the subject of several research reports. 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. Evercore ISI lifted their price target on shares of Colgate-Palmolive from $90.00 to $96.00 and gave the company an “outperform” rating in a report on Monday, April 8th. JPMorgan Chase & Co. lifted their price target on shares of Colgate-Palmolive from $88.00 to $90.00 and gave the company an “overweight” rating in a report on Thursday, January 18th. TheStreet upgraded shares of Colgate-Palmolive from a “c+” rating to a “b+” rating in a research report on Friday, January 26th. Finally, The Goldman Sachs Group started coverage on shares of Colgate-Palmolive in a research report on Friday, March 1st. They issued a “buy” rating and a $93.00 price objective on the stock. Three investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $89.50.

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.