Brokerages expect that Clorox Co (NYSE:CLX) will report $1.74 billion in sales for the current fiscal quarter, Zacks reports. Three analysts have issued estimates for Clorox’s earnings. The lowest sales estimate is $1.73 billion and the highest is $1.76 billion. Clorox reported sales of $1.51 billion during the same quarter last year, which would suggest a positive year-over-year growth rate of 15.2%. The firm is expected to announce its next quarterly earnings report before the market opens on Monday, November 2nd.
On average, analysts expect that Clorox will report full year sales of $6.94 billion for the current year, with estimates ranging from $6.86 billion to $7.04 billion. For the next fiscal year, analysts expect that the firm will post sales of $7.19 billion, with estimates ranging from $7.12 billion to $7.24 billion. Zacks’ sales averages are an average based on a survey of analysts that follow Clorox.
Clorox (NYSE:CLX) last announced its quarterly earnings data on Monday, August 3rd. The company reported $2.41 earnings per share for the quarter, topping the Zacks’ consensus estimate of $2.00 by $0.41. The firm had revenue of $1.98 billion during the quarter, compared to analyst estimates of $1.86 billion. Clorox had a net margin of 13.97% and a return on equity of 138.70%. The business’s quarterly revenue was up 21.9% on a year-over-year basis. During the same period in the previous year, the business posted $1.88 EPS.
A number of equities research analysts have recently weighed in on the stock. DA Davidson lowered their price objective on shares of Clorox from $269.00 to $263.00 and set a “buy” rating for the company in a report on Wednesday. Citigroup boosted their price objective on shares of Clorox from $206.00 to $246.00 and gave the stock a “neutral” rating in a report on Tuesday, August 4th. Zacks Investment Research lowered shares of Clorox from a “buy” rating to a “hold” rating and set a $249.00 price objective for the company. in a report on Thursday, August 6th. JPMorgan Chase & Co. boosted their price objective on shares of Clorox from $203.00 to $235.00 and gave the stock an “overweight” rating in a report on Thursday, July 16th. Finally, Credit Suisse Group upped their price target on shares of Clorox from $185.00 to $200.00 and gave the company a “neutral” rating in a report on Tuesday, August 4th. Three equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have given a buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $206.54.
Shares of CLX traded down $2.43 during mid-day trading on Wednesday, reaching $209.22. The company’s stock had a trading volume of 1,311,353 shares, compared to its average volume of 1,379,446. The stock has a market cap of $26.36 billion, a PE ratio of 28.47, a P/E/G ratio of 3.85 and a beta of 0.27. The company has a current ratio of 1.42, a quick ratio of 1.10 and a debt-to-equity ratio of 3.06. Clorox has a 52 week low of $144.31 and a 52 week high of $239.87. The company’s fifty day moving average price is $216.80 and its two-hundred day moving average price is $208.16.
The company also recently declared a quarterly dividend, which will be paid on Friday, November 20th. Investors of record on Wednesday, November 4th will be issued a dividend of $1.11 per share. The ex-dividend date is Tuesday, November 3rd. This represents a $4.44 dividend on an annualized basis and a yield of 2.12%. Clorox’s dividend payout ratio is currently 60.33%.
In other Clorox news, SVP Andrew J. Mowery sold 12,932 shares of the business’s stock in a transaction on Thursday, August 6th. The shares were sold at an average price of $235.97, for a total transaction of $3,051,564.04. Following the transaction, the senior vice president now directly owns 18,456 shares of the company’s stock, valued at approximately $4,355,062.32. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, SVP Diego J. Barral sold 10,041 shares of the business’s stock in a transaction on Tuesday, August 4th. The shares were sold at an average price of $235.59, for a total transaction of $2,365,559.19. Following the transaction, the senior vice president now directly owns 13,931 shares in the company, valued at $3,282,004.29. The disclosure for this sale can be found here. 1.14% of the stock is currently owned by insiders.
Institutional investors have recently modified their holdings of the business. Costello Asset Management INC purchased a new position in Clorox during the 2nd quarter valued at $27,000. Fred Alger Management LLC purchased a new stake in shares of Clorox in the 1st quarter worth about $28,000. RPG Investment Advisory LLC grew its position in shares of Clorox by 98.5% in the 2nd quarter. RPG Investment Advisory LLC now owns 129 shares of the company’s stock worth $28,000 after buying an additional 64 shares during the period. Rosenberg Matthew Hamilton purchased a new stake in shares of Clorox in the 2nd quarter worth about $29,000. Finally, Knuff & Co LLC grew its position in shares of Clorox by 174.0% in the 2nd quarter. Knuff & Co LLC now owns 137 shares of the company’s stock worth $30,000 after buying an additional 87 shares during the period. 79.18% of the stock is currently owned by institutional investors and hedge funds.
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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