Colgate-Palmolive (NYSE:CL)‘s stock had its “neutral” rating reaffirmed by Zacks in a report released on Friday, American Banking and Market News reports. They currently have a $68.00 price objective on the stock. Zacks‘ price target indicates a potential upside of 5.05% from the stock’s previous close.
Zacks‘ analyst wrote, “Colgate commands a market-leading position in oral care and personal care product categories. We believe that management’s continued focus on product innovation, globally recognized brands and broad international presence in both developed and emerging economies facilitate the company to exploit growth opportunities and consequently boost profitability. This is evident from the company’s third-quarter 2013 results. Colgate posted adjusted earnings per share of $0.73, up 5.8% year over year and in line with the Zacks Consensus Estimate. However, we maintain our long-term Neutral recommendation on the stock as lingering macroeconomic concerns in Venezuela remain a drag on its financials. In addition, intense competition and a sluggish economic recovery may undermine the company’s performance. “
In other Colgate-Palmolive news, Insider Stephen J. Fogarty unloaded 12,000 shares of Colgate-Palmolive stock in a transaction dated Tuesday, October 29th. The shares were sold at an average price of $65.67, for a total value of $788,040.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.
A number of other analysts have also recently weighed in on CL. Analysts at Credit Suisse raised their price target on shares of Colgate-Palmolive from $63.00 to $72.00 in a research note to investors on Tuesday. Separately, analysts at BMO Capital Markets raised their price target on shares of Colgate-Palmolive from $61.00 to $68.00 in a research note to investors on Tuesday. They now have a “market perform” rating on the stock. Finally, analysts at Janney Montgomery Scott raised their price target on shares of Colgate-Palmolive from $65.00 to $69.00 in a research note to investors on Friday, October 25th. They now have a “buy” rating on the stock. Sixteen research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Colgate-Palmolive currently has an average rating of “Hold” and an average price target of $79.43.
Colgate-Palmolive (NYSE:CL) traded up 0.28% on Friday, hitting $64.91. The stock had a trading volume of 1,550,404 shares. Colgate-Palmolive has a one year low of $51.345 and a one year high of $66.04. The stock has a 50-day moving average of $61.28 and a 200-day moving average of $59.77. The company has a market cap of $60.055 billion and a price-to-earnings ratio of 26.91.
Colgate-Palmolive (NYSE:CL) last announced its earnings results on Thursday, October 24th. The company reported $0.73 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.73. The company had revenue of $4.40 billion for the quarter, compared to the consensus estimate of $4.46 billion. During the same quarter in the previous year, the company posted $1.38 earnings per share. The company’s revenue for the quarter was up 1.5% on a year-over-year basis. Analysts expect that Colgate-Palmolive will post $2.83 EPS for the current fiscal year.
Colgate-Palmolive Company (NYSE:CL) is a consumer products company whose products are marketed in over 200 countries and territories throughout the world.
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