Wall Street brokerages expect that Clorox Co (NYSE:CLX) will announce $1.56 billion in sales for the current fiscal quarter, Zacks Investment Research reports. Three analysts have issued estimates for Clorox’s earnings, with the highest sales estimate coming in at $1.56 billion and the lowest estimate coming in at $1.55 billion. Clorox posted sales of $1.55 billion in the same quarter last year, which suggests a positive year over year growth rate of 0.6%. The firm is scheduled to announce its next earnings report on Wednesday, May 6th.
On average, analysts expect that Clorox will report full year sales of $6.19 billion for the current financial year, with estimates ranging from $6.18 billion to $6.20 billion. For the next fiscal year, analysts expect that the firm will report sales of $6.34 billion, with estimates ranging from $6.32 billion to $6.38 billion. Zacks’ sales averages are an average based on a survey of analysts that that provide coverage for Clorox.
Clorox (NYSE:CLX) last released its earnings results on Tuesday, February 4th. The company reported $1.46 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.31 by $0.15. The firm had revenue of $1.45 billion for the quarter, compared to analysts’ expectations of $1.45 billion. Clorox had a net margin of 13.31% and a return on equity of 133.50%. Clorox’s quarterly revenue was down 1.6% on a year-over-year basis. During the same quarter last year, the company earned $1.40 EPS.
CLX has been the topic of several recent research reports. Morgan Stanley lifted their price objective on shares of Clorox from $134.00 to $144.00 and gave the stock an “underweight” rating in a research note on Wednesday, February 5th. Barclays reaffirmed a “sell” rating on shares of Clorox in a research note on Thursday, February 6th. Deutsche Bank lifted their price objective on shares of Clorox from $147.00 to $150.00 and gave the stock a “hold” rating in a research note on Wednesday, February 5th. Cfra reaffirmed a “sell” rating and issued a $140.00 price objective (up previously from $130.00) on shares of Clorox in a research note on Tuesday, February 4th. Finally, Credit Suisse Group reaffirmed a “buy” rating and issued a $168.00 price objective on shares of Clorox in a research note on Sunday, February 2nd. Five equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $152.23.
Shares of CLX opened at $164.83 on Friday. The firm’s 50 day moving average is $157.48 and its 200-day moving average is $154.16. The stock has a market capitalization of $20.61 billion, a P/E ratio of 25.87, a P/E/G ratio of 5.23 and a beta of 0.40. The company has a debt-to-equity ratio of 4.63, a current ratio of 0.86 and a quick ratio of 0.52. Clorox has a 12-month low of $144.12 and a 12-month high of $168.96.
The company also recently announced a quarterly dividend, which will be paid on Friday, May 8th. Shareholders of record on Wednesday, April 22nd will be issued a $1.06 dividend. This represents a $4.24 annualized dividend and a dividend yield of 2.57%. The ex-dividend date of this dividend is Tuesday, April 21st. Clorox’s payout ratio is 67.09%.
In other Clorox news, SVP Diego J. Barral sold 2,086 shares of the firm’s stock in a transaction dated Friday, February 7th. The shares were sold at an average price of $165.62, for a total value of $345,483.32. Following the completion of the transaction, the senior vice president now directly owns 8,247 shares in the company, valued at $1,365,868.14. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, SVP Denise Garner sold 725 shares of the firm’s stock in a transaction dated Friday, November 22nd. The stock was sold at an average price of $146.34, for a total transaction of $106,096.50. Following the completion of the transaction, the senior vice president now owns 5,805 shares of the company’s stock, valued at $849,503.70. The disclosure for this sale can be found here. Company insiders own 1.14% of the company’s stock.
Institutional investors and hedge funds have recently made changes to their positions in the business. Captrust Financial Advisors raised its position in Clorox by 95.8% during the fourth quarter. Captrust Financial Advisors now owns 11,137 shares of the company’s stock valued at $1,700,000 after acquiring an additional 5,450 shares in the last quarter. Orion Portfolio Solutions LLC bought a new position in Clorox during the fourth quarter valued at approximately $130,000. AQR Capital Management LLC raised its position in Clorox by 31.2% during the fourth quarter. AQR Capital Management LLC now owns 1,333,102 shares of the company’s stock valued at $203,992,000 after acquiring an additional 317,198 shares in the last quarter. Advisory Alpha LLC raised its position in Clorox by 2,122.2% during the fourth quarter. Advisory Alpha LLC now owns 200 shares of the company’s stock valued at $31,000 after acquiring an additional 191 shares in the last quarter. Finally, First Republic Investment Management Inc. raised its position in Clorox by 1.9% during the fourth quarter. First Republic Investment Management Inc. now owns 111,712 shares of the company’s stock valued at $17,152,000 after acquiring an additional 2,072 shares in the last quarter. Institutional investors own 78.06% of the company’s stock.
Clorox Company Profile
The Clorox Company manufactures and markets consumer and professional products worldwide. It operates through four segments: Cleaning, Household, Lifestyle, and International. The company offers laundry additives, including bleach products under the Clorox brand, as well as Clorox 2 stain fighter and color booster; home care products primarily under the Clorox, Formula 409, Liquid-Plumr, Pine-Sol, S.O.S, and Tilex brands; naturally derived products under the Green Works brand; and professional cleaning, disinfecting, and food service products under the Clorox, Dispatch, HealthLink, Clorox Healthcare, Hidden Valley, KC Masterpiece, and Soy Vay brands.
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