Citi Has Hold Rating On Church & Dwight Following Earnings (CHD)

Citi Investment Research has a Hold rating and a $71 price target on shares of Church & Dwight Co Inc CHD following earnings. In a note to investors, Citi writes, "Reported sales were up 1.2% (ahead of our estimate for an increase of 0.9%), as organic sales rose 1.2% reflecting volume growth of 3.2% offset by a 2.0% negative price mix. The Consumer International segment posted the most robust sales growth (+6.8% or +3.0% in local currency) reflecting the company's focus on international expansion. Meanwhile, sales growth for the Consumer Domestic segment, at +0.9% and driven by higher sales of Arm & Hammer Super Scoop cat litter and Spinbrush and Trojan condoms, was below our forecast for sales to be up 1.5%. In contrast, the Specialty Products segment's sales fell 5.5% (though the division's organic sales were up 2.2%)." Shares of CHD are down $1.12 to $80.88, a loss of 1.4% this morning.