Despite Runup in 3Q Sales, Church & Dwight's Valuation Strikes Us as Quite Heated
Even after accounting for no-moat Church & Dwight’s continued favorable sales trajectory in the third quarter (up 4.7% on an organic basis and 5.4% in the global consumer arm, which included a 1.7% benefit from increased price and favorable mix), results through the first nine months of the year, as well as the firm’s full-year expectations, continue to align with our forecast for 9.2% sales growth and $2.28 in EPS. As such, we don't expect to alter our $44 fair value estimate outside of a m...Church & Dwight develops, manufactures and markets a range of consumer products. The company's consumer products include: ARM & HAMMER? baking soda, cat litter, laundry detergent, carpet deodorizer and other baking soda based products; TROJAN? condoms, lubricants and vibrators; OXICLEAN? stain removers, cleaning solutions, laundry detergents and bleach alternatives; SPINBRUSH? battery-operated toothbrushes; FIRST RESPONSE? home pregnancy and ovulation test kits; NAIR? depilatories; ORAJEL? oral analgesic; XTRA? laundry detergent; L'IL CRITTERS? and VITAFUSION? gummy dietary supplements; BATISTE? dry shampoo; WATERPIK? water flossers and showerheads, and FLAWLESS? hair removal products.
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