The popular fast-moving consumer goods (FMCG) company, Colgate-Palmolive (CL), continues to outperform the market, showing exceptional financial performance. Despite some insiders selling off US$1.9m in stocks, the company's Q2 results have impressed investors with its earnings and outlook. Stifel has lifted estimates based on a strong second quarter backed by volume and EBIT outperformance. HSBC reaffirmed their stock rating, emphasizing the company's durability. Colgate-Palmolive CL's Q2 2024 results handily beat estimates delivering earnings per share of $0.89 and revenue of $5.06 billion. Based on this impressive performance, the company has raised its forecast for 2024 due to strong demand. As an innovator, Colgate-Palmolive has seen growth, and their commitment to brand penetration has led to raising their organic revenue growth outlook. Despite occasional underperformances compared to competitors, the company remains steady, and there is optimism over the upcoming earnings report. Analysts from TD Cowen have issued a buy rating on the company's stock while Jefferies Financial Group has lowered the rating to hold. Investors have been urged to place focus on Colgate-Palmolive's strong returns on capital and to anticipate their contribution to future dividends. Rumors suggest that the stock may still have room to grow and appeal to the market.
Colgate-Palmolive Company CL News Analytics from Fri, 26 Jan 2024 08:00:00 GMT to Sun, 28 Jul 2024 22:14:00 GMT - Rating 9 - Innovation 6 - Information 8 - Rumor 3
