Shares of global consumer products behemoth Colgate-Palmolive (NYSE:CL) are on the up move today after the company posted healthy first-quarter numbers.
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Revenue rose 8.4% year-over-year to $4.77 billion, outperforming estimates by $190 million. EPS at $0.73 too comfortably beat estimates by $0.03. The company witnessed a 10% organic growth across all of its categories and expects margin improvements for the rest of the year on the back of pricing actions and productivity optimization.
Looking ahead, for full-year 2023, CL expects net sales to rise by 3% to 6% Additionally, EPS is anticipated to grow in the mid-single-digits.
Overall, the Street has an $80.36 consensus price target on CL, pointing to a modest 3.1% potential upside in the stock. That’s after a 5.3% gain in CL shares over the past month.
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