Colgate-Palmolive Company Declares Quarterly Dividend of $0.52 (NYSE:CL)

Key Points

• Colgate-Palmolive Company has declared a quarterly dividend of $0.52 per share, set to be paid on November 14th to investors of record as of October 17th, representing a 2.5% annual yield.
• The company's dividend payout ratio stands at 53.1%, indicating that earnings sufficiently cover the dividend, with future projections suggesting continued coverage.
• Colgate-Palmolive's stock is currently trading at $84.06, with analysts offering mixed ratings and a target price averaging $98.00, reflecting moderate bullish sentiment.

Colgate-Palmolive Company (NYSE:CL - Get Free Report) announced a quarterly dividend on Thursday, September 11th, RTT News reports. Investors of record on Friday, October 17th will be given a dividend of 0.52 per share on Friday, November 14th. This represents a c) dividend on an annualized basis and a yield of 2.5%.

Colgate-Palmolive has a dividend payout ratio of 53.1% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Colgate-Palmolive to earn $4.03 per share next year, which means the company should continue to be able to cover its $2.08 annual dividend with an expected future payout ratio of 51.6%.

Colgate-Palmolive Trading Up 1.0%

Colgate-Palmolive stock traded up $0.86 during midday trading on Thursday, reaching $84.06. The stock had a trading volume of 3,362,161 shares, compared to its average volume of 5,187,635. The company has a quick ratio of 0.57, a current ratio of 0.89 and a debt-to-equity ratio of 6.79. Colgate-Palmolive has a 52-week low of $82.29 and a 52-week high of $106.44. The firm has a market cap of $67.94 billion, a price-to-earnings ratio of 23.61, a price-to-earnings-growth ratio of 4.38 and a beta of 0.35. The company has a fifty day moving average of $86.27 and a 200 day moving average of $89.65.

Colgate-Palmolive (NYSE:CL - Get Free Report) last posted its quarterly earnings data on Friday, August 1st. The company reported $0.92 earnings per share for the quarter, topping analysts' consensus estimates of $0.89 by $0.03. Colgate-Palmolive had a net margin of 14.55% and a return on equity of 377.63%. The company had revenue of $5.11 billion for the quarter, compared to analyst estimates of $5.03 billion. During the same period in the prior year, the company posted $0.91 EPS. The firm's revenue for the quarter was up 1.0% on a year-over-year basis. On average, analysts anticipate that Colgate-Palmolive will post 3.75 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of analysts recently weighed in on CL shares. UBS Group reduced their price objective on shares of Colgate-Palmolive from $109.00 to $106.00 and set a "buy" rating on the stock in a research report on Thursday, July 17th. Barclays raised their target price on shares of Colgate-Palmolive from $86.00 to $87.00 and gave the stock an "equal weight" rating in a research report on Tuesday, July 15th. Morgan Stanley decreased their price target on shares of Colgate-Palmolive from $104.00 to $96.00 and set an "overweight" rating for the company in a research note on Monday, August 4th. JPMorgan Chase & Co. dropped their price objective on Colgate-Palmolive from $99.00 to $95.00 and set an "overweight" rating on the stock in a research note on Monday, August 4th. Finally, Citigroup reduced their price objective on Colgate-Palmolive from $108.00 to $105.00 and set a "buy" rating on the stock in a report on Monday, August 4th. Seven research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $98.00.

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.

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