Colgate-Palmolive (CL:NYE), a company that produces consumer goods, recently announced its earnings report for the first quarter of 2023. The company’s revenue for the quarter exceeded analysts’ estimates, coming in at $4.3 billion. Additionally, the company’s earnings per share also beat analysts’ expectations at $0.82.
As a result of the positive earnings report, Colgate-Palmolive’s stock rose by over 3%. The company’s CEO attributed the success to the company’s focus on innovation, investments in advertising and e-commerce, and commitment to sustainability.
Looking forward, Colgate-Palmolive’s outlook for the rest of the year is positive, as the company expects to continue its growth momentum. Overall, the first quarter results have pleased investors and analysts, leading to an increase in the company’s stock price.
Based on the Colgate-Palmolive Company stock forecast from 17 analysts, the average analyst target price for Colgate-Palmolive Company is USD 80.58 over the next 12 months. Colgate-Palmolive Company’s average analyst rating is Strong Buy.
Stock Target Advisor’s own stock analysis of Colgate-Palmolive Company is Neutral, which is based on 9 positive signals and 8 negative signals. At the last closing, Colgate-Palmolive Company’s stock price was USD 77.93. Colgate-Palmolive Company’s stock price has changed by +2.06% over the past week, +5.10% over the past month, and -3.42% over the last year.