Colgate Attains New High

The shares of Colgate-Palmolive Co. (CL) reached a new 52-week high of $66.04 on Oct 30, 2013, gaining momentum from the company’s recently reported strong top- and bottom-line results for third quarter 2013 and an impressive full-year outlook.

This seller of consumer products worldwide eventually closed at $65.22 yesterday, amassing a year-to-date return of roughly 25.5%. Average volume of shares traded over the last 3 months stands at approximately 2,994K.
The company currently trades at a forward P/E of 23.1x, a 15.6% premium to the peer group average of 19.99x. The last traded price is 1.1% above the Zacks Consensus average analyst price target of $64.5.

Investors are optimistic about this Zacks Rank #3 (Hold) stock as its earnings per share of 73 cents came in line with the Zacks Consensus Estimate and rose 6.0% year over year. Read more.