Raymond James Financial Issues Pessimistic Forecast for Colgate-Palmolive (NYSE:CL) Stock Price

Colgate-Palmolive (NYSE:CL) had its target price decreased by Raymond James Financial from $105.00 to $95.00 in a research note issued on Monday,Benzinga reports. The firm presently has an “outperform” rating on the stock. Raymond James Financial’s target price suggests a potential upside of 20.87% from the stock’s current price.

CL has been the subject of a number of other research reports. Piper Sandler assumed coverage on Colgate-Palmolive in a research note on Friday, October 3rd. They issued a “neutral” rating and a $84.00 target price for the company. Citigroup lowered their price objective on Colgate-Palmolive from $108.00 to $105.00 and set a “buy” rating for the company in a research note on Monday, August 4th. Deutsche Bank Aktiengesellschaft set a $86.00 price objective on Colgate-Palmolive in a research note on Friday, October 10th. UBS Group lowered 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, October 8th. Finally, JPMorgan Chase & Co. lowered their price objective on Colgate-Palmolive from $95.00 to $88.00 and set an “overweight” rating for the company in a research note on Friday, October 10th. Eight equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, Colgate-Palmolive currently has a consensus rating of “Moderate Buy” and an average target price of $91.50.

Colgate-Palmolive Trading Down 0.2%

CL opened at $78.60 on Monday. The stock has a market cap of $63.52 billion, a PE ratio of 22.08, a PEG ratio of 4.62 and a beta of 0.34. The company has a quick ratio of 0.57, a current ratio of 0.89 and a debt-to-equity ratio of 6.79. The business has a 50 day moving average of $81.72 and a 200-day moving average of $87.13. Colgate-Palmolive has a 52 week low of $76.68 and a 52 week high of $100.18.

Colgate-Palmolive (NYSE:CL) last released its earnings results on Friday, August 1st. The company reported $0.92 EPS for the quarter, beating analysts’ consensus estimates 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 revenue for the quarter was up 1.0% compared to the same quarter last year. During the same quarter last year, the business posted $0.91 EPS. Equities research analysts predict that Colgate-Palmolive will post 3.75 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Colgate-Palmolive

Institutional investors have recently modified their holdings of the business. Westend Capital Management LLC boosted its position in shares of Colgate-Palmolive by 111.1% during the first quarter. Westend Capital Management LLC now owns 266 shares of the company’s stock valued at $25,000 after buying an additional 140 shares during the last quarter. Westside Investment Management Inc. boosted its position in shares of Colgate-Palmolive by 85.5% during the second quarter. Westside Investment Management Inc. now owns 282 shares of the company’s stock valued at $26,000 after buying an additional 130 shares during the last quarter. Cornerstone Planning Group LLC boosted its position in shares of Colgate-Palmolive by 1,913.3% during the first quarter. Cornerstone Planning Group LLC now owns 302 shares of the company’s stock valued at $28,000 after buying an additional 287 shares during the last quarter. Saudi Central Bank purchased a new stake in shares of Colgate-Palmolive during the first quarter valued at $29,000. Finally, Vermillion & White Wealth Management Group LLC boosted its position in Colgate-Palmolive by 86.1% in the second quarter. Vermillion & White Wealth Management Group LLC now owns 335 shares of the company’s stock worth $30,000 after purchasing an additional 155 shares during the last quarter. 80.41% of the stock is owned by hedge funds and other institutional investors.

About Colgate-Palmolive

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.