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 3.550-3.590 for the period, compared to the consensus 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 NYSE CL traded down $4.19 during trading on Friday, reaching $95.55. The company had a trading volume of 7,978,102 shares, compared to its average volume of 4,350,021. Colgate-Palmolive has a twelve month low of $71.46 and a twelve month high of $109.30. The stock has a market capitalization of $78.39 billion, a PE ratio of 30.34, a price-to-earnings-growth ratio of 3.54 and a beta of 0.40. The stock has a 50-day moving average price of $103.28 and a two-hundred day moving average price of $97.85. The company has a current ratio of 1.06, a quick ratio of 0.70 and a debt-to-equity ratio of 16.90.

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

Colgate-Palmolive Announces Dividend

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 of this dividend is Friday, October 18th. Colgate-Palmolive’s dividend payout ratio is currently 63.29%.

Analyst Ratings Changes

A number of equities research analysts have recently commented on the company. HSBC reaffirmed a “hold” rating on shares of Colgate-Palmolive in a research report on Friday, July 26th. Barclays upped their target price on Colgate-Palmolive from $91.00 to $96.00 and gave the stock an “equal weight” rating in a research report on Monday, July 29th. JPMorgan Chase & Co. upped their target price on Colgate-Palmolive from $113.00 to $114.00 and gave the stock an “overweight” rating in a research report on Friday, October 11th. Sanford C. Bernstein upped their target price on Colgate-Palmolive from $100.00 to $103.00 and gave the stock a “market perform” rating in a research report on Tuesday, July 30th. Finally, Redburn Atlantic raised Colgate-Palmolive to a “hold” rating in a research report on Thursday, August 1st. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and fourteen have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $106.00.

Insider Buying and Selling at Colgate-Palmolive

In other news, Director Martina Hundmejean sold 2,313 shares of the company’s stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $103.86, for a total transaction of $240,228.18. Following the completion of the transaction, the director now directly owns 11,755 shares of the company’s stock, valued at approximately $1,220,874.30. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Director Martina Hundmejean sold 2,313 shares of the stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $103.86, for a total value of $240,228.18. Following the completion of the transaction, 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 position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Sally Massey sold 15,850 shares of the stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $103.28, for a total value of $1,636,988.00. Following the completion of the transaction, the insider now directly owns 13,942 shares of the company’s stock, valued at $1,439,929.76. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 43,490 shares of company stock worth $4,486,063 over the last quarter. 0.34% of the stock is owned by corporate insiders.

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.