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Church & Dwight Analysts Slash Their Forecasts After Q2 Results
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Church & Dwight Analysts Slash Their Forecasts After Q2 Results
Aug 5, 2024 11:17 AM

Church & Dwight Co., Inc ( CHD ). reported upbeat second-quarter adjusted EPS results on Friday.

Church & Dwight ( CHD ) reported quarterly earnings of 93 cents per share which beat the analyst consensus estimate of 84 cents per share. The company reported quarterly sales of $1.511 billion which met the analyst consensus estimate, according to data from Benzinga Pro.

Matthew Farrell, Chief Executive Officer, commented, “We are really pleased with another strong quarter. The Company is performing well with all three divisions delivering organic growth. Our outstanding Q2 results reflect the strength of our brands, the early success of our new products, and our perennial focus on execution. Volume was the primary driver of organic growth, and we expect volume growth to continue for the rest of the year. Marketing as a percent of sales increased 100 basis points driving strong consumption and share gains. Global online sales grew to 21.2% of total consumer sales in Q2. And finally, the combination of strong sales, margin expansion, and efficient working capital management resulted in strong cash flow generation in the first half, with over $1 billion of cash from operations expected in the full year.”

Church & Dwight ( CHD ) shares gained 0.9% to trade at $99.43 on Monday.

These analysts made changes to their price targets on Church & Dwight ( CHD ) following earnings announcement.

Wells Fargo analyst Chris Carey maintained Church & Dwight ( CHD ) with an Overweight and lowered the price target from $116 to $108.

Truist Securities analyst Bill Chappell maintained the stock with a Buy and slashed the price target from $115 to $110.

Stifel analyst Mark Astrachan maintained Church & Dwight ( CHD ) with a Hold and cut the price target from $107 to $105.

JP Morgan analyst Andrea Teixeira maintained Church & Dwight ( CHD ) with an Underweight and lowered the price target from $101 to $97.

Evercore ISI Group analyst Javier Escalante maintained the stock with an In-Line rating, while lowering the price target from $110 to $101.

Morgan Stanley analyst Dara Mohsenian maintained Church & Dwight ( CHD ) with an Overweight rating and lowered the price target from $114 to $110.

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