Clorox (NYSE:CLX) Releases FY24 Earnings Guidance

Clorox (NYSE:CLX) issued an update on its FY24 earnings guidance on Tuesday morning. The company provided earnings per share (EPS) guidance of $5.80-5.95 for the period, compared to the consensus estimate of $5.55. The company issued revenue guidance of down low single digits, compared to the consensus revenue estimate of $7.22 billion. Clorox also updated its FY 2024 guidance to 5.800-5.950 EPS.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on CLX shares. Barclays reduced their price objective on shares of Clorox from $148.00 to $136.00 and set an underweight rating on the stock in a research report on Wednesday, April 10th. The Goldman Sachs Group initiated coverage on Clorox in a research report on Friday, March 1st. They issued a sell rating and a $140.00 price objective on the stock. Jefferies Financial Group raised shares of Clorox from an underperform rating to a hold rating and set a $145.00 target price for the company in a research note on Tuesday, March 26th. UBS Group raised their price target on shares of Clorox from $145.00 to $170.00 and gave the stock a neutral rating in a research note on Friday, February 2nd. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Clorox from $145.00 to $152.00 and gave the company a neutral rating in a research report on Thursday, January 18th. Four investment analysts have rated the stock with a sell rating and thirteen have issued a hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of Hold and an average price target of $148.63.

Clorox Stock Performance

Shares of Clorox stock traded down $1.11 on Tuesday, reaching $147.81. 1,784,278 shares of the company were exchanged, compared to its average volume of 1,217,056. The company’s 50-day moving average is $149.26 and its two-hundred day moving average is $143.12. The firm has a market cap of $18.34 billion, a price-to-earnings ratio of 234.62, a P/E/G ratio of 2.32 and a beta of 0.43. Clorox has a 1-year low of $114.68 and a 1-year high of $178.21. The company has a debt-to-equity ratio of 11.37, a quick ratio of 0.57 and a current ratio of 0.89.

Clorox (NYSE:CLX) last released its quarterly earnings data on Thursday, February 1st. The company reported $2.16 earnings per share for the quarter, beating the consensus estimate of $1.08 by $1.08. Clorox had a net margin of 1.09% and a return on equity of 319.41%. The firm had revenue of $1.99 billion for the quarter, compared to analyst estimates of $1.80 billion. During the same quarter in the prior year, the business earned $0.98 EPS. The company’s revenue for the quarter was up 16.0% compared to the same quarter last year. As a group, research analysts expect that Clorox will post 5.52 earnings per share for the current fiscal year.

Clorox Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, May 10th. Stockholders of record on Wednesday, April 24th will be given a $1.20 dividend. The ex-dividend date is Tuesday, April 23rd. This represents a $4.80 annualized dividend and a dividend yield of 3.25%. Clorox’s dividend payout ratio is currently 761.92%.

Clorox Company Profile

The Clorox Company manufactures and markets consumer and professional products worldwide. It operates through four segments: Health and Wellness, Household, Lifestyle, and International. The Health and Wellness segment offers cleaning products, such as laundry additives and home care products primarily under the Clorox, Clorox2, Scentiva, Pine-Sol, Liquid-Plumr, Tilex, and Formula 409 brands; professional cleaning and disinfecting products under the CloroxPro and Clorox Healthcare brands; professional food service products under the Hidden Valley brand; and vitamins, minerals and supplement products under the RenewLife, Natural Vitality, NeoCell, and Rainbow Light brands in the United States.