Colgate-Palmolive (CL) Coverage Initiated at Evercore ISI

Evercore ISI began coverage on shares of Colgate-Palmolive (NYSE:CL) in a research note released on Thursday, MarketBeat.com reports. The firm issued an outperform rating and a $70.00 price objective on the stock.

A number of other research firms also recently commented on CL. Goldman Sachs Group upgraded Colgate-Palmolive from a neutral rating to a buy rating in a research report on Tuesday, January 8th. Zacks Investment Research downgraded Colgate-Palmolive from a hold rating to a sell rating in a research report on Friday, October 5th. Morgan Stanley lowered their target price on Colgate-Palmolive from $65.00 to $60.00 and set a hold rating for the company in a research report on Tuesday, October 30th. JPMorgan Chase & Co. downgraded Colgate-Palmolive from a neutral rating to an underweight rating and lowered their target price for the company from $61.00 to $54.00 in a research report on Monday, October 29th. Finally, Wells Fargo & Co lowered their target price on Colgate-Palmolive from $64.00 to $62.00 and set a market perform rating for the company in a research report on Wednesday, October 17th. Two analysts have rated the stock with a sell rating, twelve have assigned a hold rating and four have assigned a buy rating to the company’s stock. The stock presently has an average rating of Hold and an average price target of $67.87.

CL stock opened at $62.10 on Thursday. Colgate-Palmolive has a 1-year low of $57.41 and a 1-year high of $77.91. The company has a market capitalization of $53.17 billion, a price-to-earnings ratio of 21.64, a price-to-earnings-growth ratio of 2.94 and a beta of 0.75.

Colgate-Palmolive (NYSE:CL) last posted its quarterly earnings results on Friday, October 26th. The company reported $0.72 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.72. Colgate-Palmolive had a return on equity of 12,004.60% and a net margin of 13.55%. The business had revenue of $3.85 billion during the quarter, compared to the consensus estimate of $3.89 billion. During the same period in the prior year, the company posted $0.73 EPS. The firm’s revenue for the quarter was down 3.2% compared to the same quarter last year. On average, equities analysts anticipate that Colgate-Palmolive will post 2.96 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Friday, February 15th. Investors of record on Wednesday, January 23rd will be given a $0.42 dividend. The ex-dividend date is Tuesday, January 22nd. This represents a $1.68 dividend on an annualized basis and a yield of 2.71%. Colgate-Palmolive’s dividend payout ratio is presently 58.54%.

A number of institutional investors and hedge funds have recently modified their holdings of CL. Voya Investment Management LLC increased its stake in Colgate-Palmolive by 6.2% in the second quarter. Voya Investment Management LLC now owns 478,798 shares of the company’s stock worth $31,031,000 after purchasing an additional 27,892 shares during the period. Cubist Systematic Strategies LLC increased its stake in Colgate-Palmolive by 176.7% in the second quarter. Cubist Systematic Strategies LLC now owns 45,158 shares of the company’s stock worth $2,927,000 after purchasing an additional 28,839 shares during the period. Sterling Capital Management LLC increased its stake in Colgate-Palmolive by 32.1% in the second quarter. Sterling Capital Management LLC now owns 22,705 shares of the company’s stock worth $1,472,000 after purchasing an additional 5,511 shares during the period. Macquarie Group Ltd. increased its stake in Colgate-Palmolive by 203.2% in the second quarter. Macquarie Group Ltd. now owns 34,569 shares of the company’s stock worth $2,241,000 after purchasing an additional 23,169 shares during the period. Finally, Paloma Partners Management Co increased its stake in Colgate-Palmolive by 87.0% in the second quarter. Paloma Partners Management Co now owns 51,721 shares of the company’s stock worth $3,352,000 after purchasing an additional 24,068 shares during the period. Institutional investors own 74.54% of the company’s stock.

About Colgate-Palmolive

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

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Analyst Recommendations for Colgate-Palmolive (NYSE:CL)

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