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 earnings per share guidance of 3.550-3.590 for the period, compared to the consensus earnings per share 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 Price Performance

Shares of Colgate-Palmolive stock traded down $4.19 on Friday, reaching $95.55. The company’s stock had a trading volume of 7,978,102 shares, compared to its average volume of 4,350,021. The company has a market capitalization of $78.39 billion, a P/E ratio of 30.34, a PEG ratio of 3.54 and a beta of 0.40. Colgate-Palmolive has a 52-week low of $71.46 and a 52-week high of $109.30. The stock has a 50-day moving average price of $103.28 and a 200-day moving average price of $97.85. The company has a quick ratio of 0.70, a current ratio of 1.06 and a debt-to-equity ratio of 16.90.

Colgate-Palmolive (NYSE:CL) last posted its quarterly earnings data on Friday, July 26th. The company reported $0.91 EPS for the quarter, beating analysts’ consensus estimates of $0.87 by $0.04. The business had revenue of $5.06 billion during the quarter, compared to analysts’ expectations of $5 billion. Colgate-Palmolive had a return on equity of 470.19% and a net margin of 14.21%. The business’s revenue was up 4.9% compared to the same quarter last year. During the same period in the previous year, the business earned $0.77 earnings per share. Analysts expect that Colgate-Palmolive will post 3.57 EPS for the current year.

Colgate-Palmolive Dividend Announcement

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

Analyst Upgrades and Downgrades

CL has been the subject of a number of research analyst reports. Bank of America increased their price target on Colgate-Palmolive from $100.00 to $110.00 and gave the stock a “buy” rating in a report on Wednesday, July 10th. UBS Group increased their price target on Colgate-Palmolive from $119.00 to $122.00 and gave the stock a “buy” rating in a report on Wednesday, September 4th. Citigroup increased their price target on Colgate-Palmolive from $103.00 to $112.00 and gave the stock a “buy” rating in a report on Wednesday, July 10th. Sanford C. Bernstein increased their price target on Colgate-Palmolive from $100.00 to $103.00 and gave the stock a “market perform” rating in a report on Tuesday, July 30th. Finally, HSBC reiterated a “hold” rating on shares of Colgate-Palmolive in a report on Friday, July 26th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $106.00.

Insider Buying and Selling at Colgate-Palmolive

In other Colgate-Palmolive news, insider Panagiotis Tsourapas sold 14,794 shares of Colgate-Palmolive stock in a transaction that occurred on Thursday, August 8th. The stock was sold at an average price of $102.94, for a total value of $1,522,894.36. Following the transaction, the insider now directly owns 5,146 shares in the company, valued at approximately $529,729.24. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Colgate-Palmolive news, insider Panagiotis Tsourapas sold 14,794 shares of Colgate-Palmolive stock in a transaction that occurred on Thursday, August 8th. The stock was sold at an average price of $102.94, for a total value of $1,522,894.36. Following the transaction, the insider now directly owns 5,146 shares in the company, valued at approximately $529,729.24. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Martina Hundmejean sold 2,313 shares of the firm’s stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $103.86, for a total value of $240,228.18. Following the completion of the sale, the director now directly owns 11,755 shares of the company’s stock, valued at $1,220,874.30. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 43,490 shares of company stock worth $4,486,063. 0.34% of the stock is currently owned by 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.