Zacks: Analysts Expect Colgate-Palmolive (NYSE:CL) Will Announce Quarterly Sales of $3.98 Billion

Brokerages expect Colgate-Palmolive (NYSE:CL) to post sales of $3.98 billion for the current fiscal quarter, Zacks Investment Research reports. Six analysts have made estimates for Colgate-Palmolive’s earnings. The highest sales estimate is $4.02 billion and the lowest is $3.93 billion. Colgate-Palmolive posted sales of $3.85 billion in the same quarter last year, which would indicate a positive year-over-year growth rate of 3.4%. The business is scheduled to issue its next quarterly earnings report on Friday, October 25th.

According to Zacks, analysts expect that Colgate-Palmolive will report full-year sales of $15.71 billion for the current financial year, with estimates ranging from $15.59 billion to $15.79 billion. For the next financial year, analysts expect that the company will report sales of $16.34 billion, with estimates ranging from $15.98 billion to $16.50 billion. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research firms that that provide coverage for Colgate-Palmolive.

Colgate-Palmolive (NYSE:CL) last issued its earnings results on Friday, July 26th. The company reported $0.72 EPS for the quarter, hitting analysts’ consensus estimates of $0.72. Colgate-Palmolive had a net margin of 14.77% and a negative return on equity of 10,821.98%. The company had revenue of $3.87 billion for the quarter, compared to the consensus estimate of $3.88 billion. During the same period in the previous year, the firm earned $0.77 earnings per share. Colgate-Palmolive’s quarterly revenue was down .5% compared to the same quarter last year.

A number of equities analysts have commented on CL shares. Argus lifted their target price on shares of Colgate-Palmolive from $72.00 to $82.00 and gave the stock a “buy” rating in a research note on Tuesday, June 11th. Bank of America set a $80.00 price target on shares of Colgate-Palmolive and gave the company a “buy” rating in a research note on Friday, July 12th. Deutsche Bank boosted their price target on shares of Colgate-Palmolive from $74.00 to $76.00 and gave the company a “hold” rating in a research note on Friday, July 12th. Jefferies Financial Group boosted their price target on shares of Colgate-Palmolive from $61.00 to $73.00 and gave the company an “in-line” rating in a research note on Monday, April 29th. They noted that the move was a valuation call. Finally, Wells Fargo & Co boosted their price target on shares of Colgate-Palmolive from $68.00 to $70.00 and gave the company a “market perform” rating in a research note on Monday, July 29th. One research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and five have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $73.13.

In related news, insider Ian M. Cook sold 175,616 shares of Colgate-Palmolive stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $72.65, for a total value of $12,758,502.40. Following the completion of the transaction, the insider now owns 1,125,842 shares in the company, valued at $81,792,421.30. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Henning I. Jakobsen sold 33,854 shares of Colgate-Palmolive stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $73.45, for a total transaction of $2,486,576.30. Following the completion of the transaction, the chief financial officer now owns 73,693 shares of the company’s stock, valued at approximately $5,412,750.85. The disclosure for this sale can be found here. Insiders sold 422,925 shares of company stock valued at $30,478,467 in the last 90 days. Company insiders own 1.14% of the company’s stock.

Hedge funds have recently made changes to their positions in the stock. Gamco Investors INC. ET AL acquired a new position in shares of Colgate-Palmolive in the 2nd quarter valued at $828,000. Rudd International Inc. acquired a new position in shares of Colgate-Palmolive in the 2nd quarter valued at $3,725,000. Cornerstone Wealth Management LLC boosted its holdings in shares of Colgate-Palmolive by 44.8% in the 2nd quarter. Cornerstone Wealth Management LLC now owns 5,419 shares of the company’s stock valued at $387,000 after buying an additional 1,677 shares in the last quarter. Chicago Equity Partners LLC boosted its holdings in shares of Colgate-Palmolive by 105.2% in the 2nd quarter. Chicago Equity Partners LLC now owns 16,665 shares of the company’s stock valued at $1,194,000 after buying an additional 8,545 shares in the last quarter. Finally, F3Logic LLC acquired a new position in shares of Colgate-Palmolive in the 2nd quarter valued at $465,000. Hedge funds and other institutional investors own 75.52% of the company’s stock.

CL stock traded down $0.06 during trading on Friday, reaching $71.20. 3,813,538 shares of the stock were exchanged, compared to its average volume of 3,293,821. The company has a quick ratio of 0.78, a current ratio of 1.13 and a debt-to-equity ratio of 32.25. The stock has a 50 day simple moving average of $73.13. Colgate-Palmolive has a 1 year low of $57.41 and a 1 year high of $76.41. The stock has a market cap of $61.55 billion, a price-to-earnings ratio of 23.97, a price-to-earnings-growth ratio of 4.62 and a beta of 0.76.

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, August 15th. Investors of record on Thursday, July 18th will be issued a $0.43 dividend. This represents a $1.72 dividend on an annualized basis and a dividend yield of 2.42%. The ex-dividend date of this dividend is Wednesday, July 17th. Colgate-Palmolive’s dividend payout ratio (DPR) is currently 57.91%.

About Colgate-Palmolive

Colgate-Palmolive Company, together with its subsidiaries, manufactures and sells consumer products worldwide. The company operates through two segments, Oral, Personal and Home Care; and Pet Nutrition. It offers oral care products, including toothpastes, toothbrushes, and mouthwashes, as well as pharmaceutical products for dentists and other oral health professionals; and personal care products, such as liquid hand soaps, bar soaps, shower gels, deodorants and antiperspirants, skin care products, and shampoos and conditioners.

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Earnings History and Estimates for Colgate-Palmolive (NYSE:CL)

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