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

Colgate-Palmolive (NYSE:CL) issued an update on its FY 2024 earnings guidance on Friday morning. The company provided EPS guidance of 3.550-3.590 for the period, compared to the consensus EPS estimate of 3.580. The company issued revenue guidance of $20.0 billion-$20.4 billion, compared to the consensus revenue estimate of $20.2 billion.

Colgate-Palmolive Trading Down 4.1 %

Shares of CL stock traded down $4.13 on Friday, reaching $95.61. 7,978,868 shares of the stock were exchanged, compared to its average volume of 4,350,021. The company has a quick ratio of 0.70, a current ratio of 1.06 and a debt-to-equity ratio of 16.90. The stock has a market cap of $78.44 billion, a P/E ratio of 30.26, a price-to-earnings-growth ratio of 3.54 and a beta of 0.40. The firm has a 50 day moving average of $103.15 and a two-hundred day moving average of $97.98. Colgate-Palmolive has a 1-year low of $71.46 and a 1-year high of $109.30.

Colgate-Palmolive (NYSE:CL) last announced its quarterly earnings results on Friday, October 25th. The company reported $0.91 EPS for the quarter, topping the consensus estimate of $0.88 by $0.03. The company had revenue of $5.03 billion during the quarter, compared to analyst estimates of $5.01 billion. Colgate-Palmolive had a return on equity of 470.19% and a net margin of 14.21%. On average, research analysts anticipate that Colgate-Palmolive will post 3.57 EPS for the current year.

Colgate-Palmolive Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Friday, October 18th will be given a dividend of $0.50 per share. The ex-dividend date of this dividend is Friday, October 18th. This represents a $2.00 dividend on an annualized basis and a yield of 2.09%. Colgate-Palmolive’s dividend payout ratio (DPR) is 63.29%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on CL shares. HSBC reissued a “hold” rating on shares of Colgate-Palmolive in a research note on Friday, July 26th. Barclays increased their target price on Colgate-Palmolive from $91.00 to $96.00 and gave the company an “equal weight” rating in a research note on Monday, July 29th. Deutsche Bank Aktiengesellschaft downgraded Colgate-Palmolive from a “buy” rating to a “hold” rating and raised their target price for the company from $107.00 to $109.00 in a report on Monday, September 9th. TD Cowen upped their price target on Colgate-Palmolive from $110.00 to $115.00 and gave the stock a “buy” rating in a report on Tuesday, July 30th. Finally, 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 research note on Wednesday, July 10th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and fourteen have issued a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $106.00.

Insider Activity

In other Colgate-Palmolive news, EVP Gregory Malcolm sold 10,533 shares of the business’s stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $103.10, for a total transaction of $1,085,952.30. Following the completion of the transaction, the executive vice president now directly owns 10,377 shares of the company’s stock, valued at $1,069,868.70. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, Director Martina Hundmejean sold 2,313 shares of Colgate-Palmolive stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $103.86, for a total transaction of $240,228.18. Following the sale, the director now directly owns 11,755 shares in the company, valued at $1,220,874.30. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Gregory Malcolm sold 10,533 shares of the stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $103.10, for a total transaction of $1,085,952.30. Following the completion of the transaction, the executive vice president now owns 10,377 shares of the company’s stock, valued at $1,069,868.70. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 43,490 shares of company stock valued at $4,486,063. 0.34% of the stock is currently owned by company insiders.

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.