Colgate-Palmolive (NYSE:CL)‘s stock had its “neutral” rating restated by Zacks in a research note issued to investors on Friday, StockRatingsNetwork.com reports. They currently have a $64.00 price objective on the stock. Zacks‘ target price indicates a potential upside of 5.68% 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 markets facilitate the company to take advantage of growth opportunities and thereby boost profitability. This is evident from the company’s second-quarter 2013 results. Colgate posted adjusted earnings of $0.70 per share, up 4% 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. “
Colgate-Palmolive (NYSE:CL) traded down 0.52% on Friday, hitting $60.245. Colgate-Palmolive has a 1-year low of $51.25 and a 1-year high of $62.70. The stock’s 50-day moving average is currently $58.47. The company has a market cap of $56.215 billion and a price-to-earnings ratio of 25.26.
Colgate-Palmolive (NYSE:CL) last announced its earnings results on Thursday, July 25th. The company reported $0.70 EPS for the quarter, meeting the Thomson Reuters consensus estimate of $0.70. The company had revenue of $4.35 billion for the quarter, compared to the consensus estimate of $4.39 billion. During the same quarter in the prior year, the company posted $1.33 earnings per share. The company’s quarterly revenue was up 1.9% on a year-over-year basis. Analysts expect that Colgate-Palmolive will post $2.83 EPS for the current fiscal year.
A number of other firms have also recently commented on CL. Analysts at Nomura downgraded shares of Colgate-Palmolive from a “buy” rating to a “neutral” rating in a research note to investors on Tuesday. Separately, analysts at Janney Montgomery Scott raised their price target on shares of Colgate-Palmolive from $64.00 to $65.00 in a research note to investors on Friday, July 26th. They now have a “buy” rating on the stock. Finally, analysts at Sanford C. Bernstein raised their price target on shares of Colgate-Palmolive from $61.00 to $62.00 in a research note to investors on Friday, July 26th. They now have a “market perform” rating on the stock.
One investment analyst has rated the stock with a sell rating, fifteen have issued a hold rating and six have assigned a buy rating to the stock. Colgate-Palmolive presently has a consensus rating of “Hold” and an average target price of $89.49.
The company also recently announced a quarterly dividend, which is scheduled for Thursday, August 15th. Investors of record on Tuesday, July 23rd will be paid a dividend of $0.34 per share. This represents a $1.36 annualized dividend and a dividend yield of 2.25%. The ex-dividend date is Friday, July 19th.
In other Colgate-Palmolive news, VP Michael Corbo sold 10,000 shares of Colgate-Palmolive stock in a transaction that occured on Tuesday, July 30th. The shares were sold at an average price of $60.21, for a total value of $602,100.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.
Colgate-Palmolive Company (NYSE:CL) is a consumer products company whose products are marketed in over 200 countries and territories throughout the world.
To view Zacks’ full report, visit www.zacks.com
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.