Stock Update: Colgate-Palmolive Company (NYSE:CL) – Colgate Announces 3% Dividend Increase – Effective 2nd Quarter 2016

[Business Wire] – The Board of Directors of Colgate-Palmolive Company today increased the ongoing quarterly common stock cash dividend by 3%. The increase will be effective in the second quarter, 2016. Read more on this. Colgate-Palmolive Co. (CL) , with a current market cap of $60.91B, began trading this morning at $68.11. Shares have traded today between $67.53 and $68.45 per share and has traded between $50.84 and $70.65 over the past year. CL shares are currently priced at 24.72x this year’s forecasted earnings, which makes them relatively expensive compared to the industry’s 17.45x earnings multiple. And for income investors, the company pays shareholders $1.52 per share annually in dividends, yielding 2.23%. According to a consensus of 19 analysts, the earnings estimate of $0.63 per share would be $0.03 worse than the year-ago quarter and a $0.05 sequential decrease. What we find to be interesting is that the full-year EPS estimate of $2.75 is a $0.06 worse when compared to the previous year’s annual results. The quarterly earnings estimate is predicated on a consensus revenue forecast of $3.75 Billion. If reported, that would be a 7.86% decrease over the year-ago quarter. More recently, Sterne Agee CRT downgraded CL from Buy to Neutral (Feb 26, 2016). Previously, Exane BNP Paribas upgraded CL from Neutral to Outperform. With the above information in mind, readers should note that the average price target is $69.03, which is 1.35% above where the stock opened this morning. See more in (NYSE:CL) Similar Articles: Stock Update: Colgate-Palmolive Company (NYSE:CL) – Colgate-Palmolive Webcasts Presentation at The Consumer Analyst Group of New York Conference Market Update: Colgate-Palmolive Company (NYSE:CL) – Colgate-Palmolive Webcasts 2015 Fourth Quarter and Year-end Earnings Conference Call January 29, 2016 – 11:00 a.m. ET Stock Update: Colgate-Palmolive Company (NYSE:CL) – Colgate-Palmolive Returns With Its Annual ‘Haz la U’ Educational Grant Program in Celebration of Hispanic Heritage Month