NEW YORK (TheStreet) -- Shares of Colgate-Palmolive (CL) - Get Report were retreating in pre-market trading on Thursday after reporting lower-than-anticipated revenue for the 2016 third quarter. 

Before the market open, the New York City-based consumer products maker reported revenue of $3.87 billion, missing analysts' estimates of $3.94 billion.

The 3.5% drop in sales from the year-ago period was due to foreign currency headwinds and the deconsolidation of Colgate-Palmolive's Venezuelan operations, CEO Ian Cook said in a statement. 

Adjusted earnings of 73 cents per share met analysts' estimates. 

"As we look ahead, macroeconomic conditions and foreign exchange volatility remain challenging," Cook noted.

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The company continues to expect 2016 per-share earnings to be flat with 2015 and revenue to be down in the low-to-mid single digits. 

Separately, TheStreet Ratings team rates the stock as a "hold" with a ratings score of C.

Colgate-Palmolive's strengths such as its expanding profit margins, good cash flow from operations and solid stock price performance are countered by the fact that net income has been generally deteriorating over time.

You can view the full analysis from the report here: CL

TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this article's author. 

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