Colgate’s Q4 Profit Edges Lower, but Still Beats View (CL)

Filed in dividend, Gold Investing, Gold Investment, o, revenue, shares by on January 27, 2011 0 Comments

Consumer products maker Colgate-Palmolive Company ( CL ) on Thursday said its fourth quarter profit fell about 1% from last year, but results still beat analyst expectations. The New York-based company reported fourth quarter net income of $624 million, or $1.24 per share, compared with $631 million, or $1.21 per share, in the year-ago period. Revenue fell 3% from last year to $3.98 billion. On average, Wall Street analysts expected a slightly lower profit of $1.23 per share, albeit on higher revenue of $4.07 billion. Colgate-Palmolive shares were mostly flat in premarket trading Thursday. The Bottom Line Shares of Colgate-Palmolive ( CL ) have a 2.65% dividend yield, based on last night’s closing stock price of $80. The stock has technical support in the $74-$76 price area. If the shares can firm up, we see overhead resistance around the $82-$84 price levels. Colgate-Palmolive Company ( CL ) is not recommended at this time, holding a DARS™ Rating of 3.4 out of 5 stars. Be sure to visit our complete recommended list of the Best Dividend Stocks , as well as a detailed explanation of our ratings system here .

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Colgate’s Q4 Profit Edges Lower, but Still Beats View (CL)

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