NEW YORK (TheStreet) -- Colgate-Palmolive (CL) - Get Report stock is declining by 3.26% to $66.97 in late morning trading on Friday, following the release of the company's 2015 third quarter financial results.
The maker of Colgate-brand oral hygiene products posted earnings of 80 cents per share for the most recent quarter, up from 59 cents per share in the year ago period.
Revenue declined 8.5% year over year, to $4 billion from $4.4 billion in the 2014 third quarter. Currency headwinds negatively impacted sales by 13%.
Analysts surveyed by Thomson Reuters had forecast for earnings of 72 cents per share on revenue of $4.07 billion.
"In the face of challenging macroeconomic conditions worldwide, we are pleased to have achieved another quarter of strong organic sales growth, driven by positive unit volume growth and higher pricing," CEO Ian Cook said in a statement.
Separately, 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 some important positives, 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, increase in stock price during the past year and expanding profit margins. We feel its 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