1 CL stock rallied 1.54% in a week but fell 2.13% YTD. 2 Colgate Palmolive will release the Q2 earnings report on July 28, 2023, before the opening bell. Colgate Palmolive Co. (NYSE: CL) to report Q2 earnings on July 28, 2023. The previous earnings jumped CL Stock price by 6.42%;...
- 1 CL stock rallied 1.54% in a week but fell 2.13% YTD.
- 2 Colgate Palmolive will release the Q2 earnings report on July 28, 2023, before the opening bell.
Colgate Palmolive Co. (NYSE: CL) to report Q2 earnings on July 28, 2023. The previous earnings jumped CL Stock price by 6.42%; the market hope for reiteration. This earnings season has been great for United States stocks with nearly every company surpassing estimations. Wall Street hopes for a similar result from an American multinational consumer product company.
Colgate Palmolive (CL) Stock: Financial Analysis
Colgate Palmolive bulls hope to see greens in the earnings report and a forecast for growth in the next quarter. The company is expected to benefit from noticeable consumer demand for personal care, home care, and hygiene products. Experts estimate that organic sales to swell by 4.7% in Q2.
Despite the sales growth, the company needs help with higher costs of raw and packaging materials. Selling general and administrative (SG&A) expenses are also high. Also, the high cost and expenses burn a hole in margins. Zack’s consensus has also provided positive and encouraging numbers to the company ahead of the earnings report.
Colgate Palmolive (NYSE: CL): Technical Analysis
At press time, CL stock is trading at $77.11 with a drop of 1.09%; previous close and open were at $77.96 and $77.93, respectively. The 52-week range is from $67.84 to $83.71, respectively. With a volume of 5.64 Million shares, the market cap is $63.968 Billion.
The trailing twelve-month (TTM) price-to-earnings (P/E) ratio is 40.37, indicating a high-value stock price. At the same time, the (TTM) earnings per share is $1.91, meaning strength. Analysts placed the price target at $84.75 with a 9.9% upside and provided a 2.70 rating for moderate buy.
Colgate Palmolive reported Q1 earnings on April 28, 2023, where the reported revenue of $4.77 Billion surpassed the expected value of $4.587 Billion by 3.98%; compared to the previous quarter, it swelled 8.43%. At the same time, the reported earnings of $0.73 per share exceeded the estimated value of $0.70 per share by 4.28%. As compared to the previous quarter, EPS fell 1.35%.
The subsequent earnings will be reported on July 28 2023 before the opening bell. Analysts expect the earnings to be $0.746 per share while revenue to be around $4.697 Billion. Earnings in Q2 2023 should gain 2.8% compared to Q2 2022. The average jump in the last four quarters has been about 1.4%.
Colgate Palmolive Co. (CL) Stock: Candle Exploration
Previous earnings caused the share price to cross the crucial resistance point of $78.56. However, the price fell below the point soon after, and since then, there has been an attempt to cross the barrier. If today’s earnings make the price surpass the crucial resistance and sustain, this could be the start of positive momentum.
A sideways-moving EMA and dropping RSI value of 52.95 does not hint at a rally. The crucial resistance’s rejection shall consolidate the price action above S1. A piece of immensely negative news would be needed for the share price to fall below S2.
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