Colgate-Palmolive Company (NYSE:CL) Given Consensus Recommendation of "Moderate Buy" by Brokerages

Key Points

• Colgate-Palmolive has a consensus analyst rating of “Moderate Buy” from 19 brokerages, with 12 buy ratings and 7 holds. The average 12-month price target is about $96.59.
• The company recently reported better-than-expected quarterly results, posting EPS of $0.97 versus the $0.94 estimate and revenue of $5.32 billion versus the $5.22 billion forecast. Revenue rose 8.4% year over year.
• Colgate-Palmolive also announced a quarterly dividend of $0.53 per share, payable August 14, which works out to an annualized dividend of $2.12 and a yield of about 2.3%.

Shares of Colgate-Palmolive Company (NYSE:CL - Get Free Report) have earned an average rating of "Moderate Buy" from the nineteen brokerages that are covering the stock, MarketBeat Ratings reports. Seven equities research analysts have rated the stock with a hold recommendation and twelve have given a buy recommendation to the company. The average 12 month price objective among brokerages that have updated their coverage on the stock in the last year is $96.5882.

CL has been the subject of several analyst reports. Morgan Stanley reissued an "overweight" rating on shares of Colgate-Palmolive in a research note on Monday, May 4th. UBS Group increased their price target on Colgate-Palmolive from $98.00 to $100.00 and gave the company a "buy" rating in a research report on Monday, May 4th. Wall Street Zen cut Colgate-Palmolive from a "buy" rating to a "hold" rating in a research note on Sunday, March 29th. Bank of America lowered their price objective on Colgate-Palmolive from $105.00 to $102.00 and set a "buy" rating for the company in a research report on Friday, April 10th. Finally, Weiss Ratings upgraded shares of Colgate-Palmolive from a "hold (c)" rating to a "hold (c+)" rating in a research note on Monday, May 4th.

Institutional Investors Weigh In On Colgate-Palmolive

A number of hedge funds and other institutional investors have recently modified their holdings of CL. Regent Peak Wealth Advisors LLC acquired a new position in shares of Colgate-Palmolive during the second quarter worth $229,000. Tema ETFs LLC raised its stake in Colgate-Palmolive by 9.6% in the second quarter. Tema ETFs LLC now owns 13,213 shares of the company's stock valued at $1,211,000 after buying an additional 1,160 shares in the last quarter. Generali Investments Management Co LLC raised its stake in Colgate-Palmolive by 22.9% in the second quarter. Generali Investments Management Co LLC now owns 25,401 shares of the company's stock valued at $2,329,000 after buying an additional 4,736 shares in the last quarter. E. Ohman J or Asset Management AB lifted its holdings in Colgate-Palmolive by 14.8% during the 2nd quarter. E. Ohman J or Asset Management AB now owns 564,311 shares of the company's stock worth $51,736,000 after buying an additional 72,576 shares during the last quarter. Finally, Handelsbanken Fonder AB boosted its position in shares of Colgate-Palmolive by 6.0% during the 2nd quarter. Handelsbanken Fonder AB now owns 332,176 shares of the company's stock worth $30,454,000 after acquiring an additional 18,816 shares in the last quarter. 80.41% of the stock is currently owned by institutional investors and hedge funds.

Colgate-Palmolive Price Performance

Colgate-Palmolive stock opened at $91.41 on Thursday. The company has a quick ratio of 0.67, a current ratio of 1.02 and a debt-to-equity ratio of 16.33. Colgate-Palmolive has a 52-week low of $74.54 and a 52-week high of $99.33. The firm has a market cap of $73.15 billion, a PE ratio of 35.57, a price-to-earnings-growth ratio of 4.80 and a beta of 0.33. The company's 50 day moving average is $90.22 and its two-hundred day moving average is $88.41.

Colgate-Palmolive (NYSE:CL - Get Free Report) last posted its quarterly earnings data on Friday, May 1st. The company reported $0.97 earnings per share for the quarter, topping analysts' consensus estimates of $0.94 by $0.03. The business had revenue of $5.32 billion for the quarter, compared to analyst estimates of $5.22 billion. Colgate-Palmolive had a return on equity of 386.76% and a net margin of 10.04%.The company's revenue was up 8.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.91 earnings per share. On average, research analysts expect that Colgate-Palmolive will post 3.81 EPS for the current fiscal year.

Colgate-Palmolive Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, August 14th. Shareholders of record on Monday, July 20th will be issued a dividend of $0.53 per share. This represents a $2.12 annualized dividend and a yield of 2.3%. The ex-dividend date is Monday, July 20th. Colgate-Palmolive's payout ratio is 82.49%.

Colgate-Palmolive Company Profile

Colgate-Palmolive Company is a global consumer products company with a long history in household and personal care categories. The business traces its roots to the early 19th century and has evolved into a multinational manufacturer and marketer of everyday consumer goods focused on health, hygiene and home care.

The company's core activities center on oral care, personal care, home care and pet nutrition. Its product portfolio includes toothpaste, toothbrushes and mouthwash in oral care; soaps, body washes and deodorants in personal care; dishwashing liquids, surface cleaners and other household products in home care; and scientifically formulated pet foods under its pet nutrition business.

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