JPMorgan Chase & Co. Issues Pessimistic Forecast for Colgate-Palmolive (NYSE:CL) Stock Price

Key Points

• JPMorgan Chase & Co. has reduced its price target for Colgate-Palmolive from $95.00 to $88.00, while maintaining an "overweight" rating, suggesting a potential upside of 12.80% from the last close.
• Other analysts such as Deutsche Bank and UBS have also lowered their price targets, with average target estimates now around $92.21, reflecting a consensus rating of "Moderate Buy."
• Colgate-Palmolive reported quarterly earnings of $0.92 per share, exceeding estimates, with a revenue increase of 1.0% year-over-year.

Colgate-Palmolive (NYSE:CL - Get Free Report) had its price target reduced by equities research analysts at JPMorgan Chase & Co. from $95.00 to $88.00 in a research report issued to clients and investors on Friday,Benzinga reports. The brokerage presently has an "overweight" rating on the stock. JPMorgan Chase & Co.'s target price would indicate a potential upside of 12.80% from the company's previous close.

Other equities research analysts have also issued research reports about the company. Deutsche Bank Aktiengesellschaft set a $86.00 price objective on Colgate-Palmolive in a research note on Friday. Piper Sandler initiated coverage on Colgate-Palmolive in a research note on Friday, October 3rd. They set a "neutral" rating and a $84.00 price objective for the company. Weiss Ratings reissued a "hold (c)" rating on shares of Colgate-Palmolive in a research note on Wednesday. UBS Group dropped their price objective on Colgate-Palmolive from $99.00 to $92.00 and set a "buy" rating for the company in a research note on Wednesday. Finally, The Goldman Sachs Group dropped their price objective on Colgate-Palmolive from $106.00 to $91.00 and set a "buy" rating for the company in a research note on Thursday, October 2nd. Eight analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $92.21.

Colgate-Palmolive Price Performance

Shares of NYSE CL opened at $78.02 on Friday. The stock has a market cap of $63.05 billion, a PE ratio of 21.93, a price-to-earnings-growth ratio of 4.05 and a beta of 0.34. Colgate-Palmolive has a fifty-two week low of $77.09 and a fifty-two week high of $102.61. The company has a debt-to-equity ratio of 6.79, a quick ratio of 0.57 and a current ratio of 0.89. The stock has a fifty day moving average of $82.67 and a 200-day moving average of $87.99.

Colgate-Palmolive (NYSE:CL - Get Free Report) last announced its quarterly earnings results on Friday, August 1st. The company reported $0.92 earnings per share for the quarter, beating the consensus estimate of $0.89 by $0.03. The company had revenue of $5.11 billion during the quarter, compared to analysts' expectations of $5.03 billion. Colgate-Palmolive had a return on equity of 377.63% and a net margin of 14.55%.The firm's quarterly revenue was up 1.0% compared to the same quarter last year. During the same period in the previous year, the business earned $0.91 earnings per share. Equities research analysts anticipate that Colgate-Palmolive will post 3.75 earnings per share for the current year.

Institutional Investors Weigh In On Colgate-Palmolive

Several hedge funds have recently added to or reduced their stakes in the company. Westend Capital Management LLC lifted its stake in shares of Colgate-Palmolive by 111.1% in the 1st quarter. Westend Capital Management LLC now owns 266 shares of the company's stock valued at $25,000 after acquiring an additional 140 shares during the last quarter. Westside Investment Management Inc. lifted its stake in shares of Colgate-Palmolive by 85.5% in the 2nd quarter. Westside Investment Management Inc. now owns 282 shares of the company's stock valued at $26,000 after acquiring an additional 130 shares during the last quarter. Cornerstone Planning Group LLC lifted its stake in shares of Colgate-Palmolive by 1,913.3% in the 1st quarter. Cornerstone Planning Group LLC now owns 302 shares of the company's stock valued at $28,000 after acquiring an additional 287 shares during the last quarter. Saudi Central Bank bought a new stake in shares of Colgate-Palmolive in the 1st quarter valued at about $29,000. Finally, Vermillion & White Wealth Management Group LLC lifted its stake in shares of Colgate-Palmolive by 86.1% in the 2nd quarter. Vermillion & White Wealth Management Group LLC now owns 335 shares of the company's stock valued at $30,000 after acquiring an additional 155 shares during the last quarter. Institutional investors own 80.41% of the company's stock.

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.

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