NEW YORK (TheStreet) -- Shares of Colgate-Palmolive (CL) - Get Colgate-Palmolive Company Report were gaining 5.2% to $68.51 in pre-market trading Thursday after the consumer products company beat analysts' estimates for earnings in the fourth quarter.
Colgate-Palmolive reported earnings of 76 cents a share for the fourth quarter, beating the Capital IQ Consensus Estimate of 74 cents a share by 2 cents. Revenue fell 3.2% year over year to $4.22 billion for the quarter, in line with analysts' estimates.
The company said the decline in revenue is due to the strength of the dollar.
Exclusive Report:Jim Cramer's Best Stocks for 2015
"As we enter 2015, macroeconomic conditions and foreign exchange volatility remain challenging," chairman, president, and CEO Ian Cook said. "Despite that, we anticipate another year of solid organic sales growth driven by a full new product pipeline across all categories and geographies."
TheStreet Ratings team rates COLGATE-PALMOLIVE CO as a Buy with a ratings score of B+. TheStreet Ratings Team has this to say about their recommendation:
"We rate COLGATE-PALMOLIVE CO (CL) a BUY. This is driven by multiple strengths, which we believe should have a greater impact than any weaknesses, and should give investors a better performance opportunity than most stocks we cover. The company's strengths can be seen in multiple areas, such as its notable return on equity, expanding profit margins and increase in stock price during the past year. We feel these strengths outweigh the fact that the company has had generally high debt management risk by most measures that we evaluated."
You can view the full analysis from the report here: CL Ratings Report