Analysts Anticipate Clorox Co (NYSE:CLX) Will Announce Earnings of $2.38 Per Share

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Wall Street analysts expect that Clorox Co (NYSE:CLX) will announce $2.38 earnings per share for the current fiscal quarter, according to Zacks. Three analysts have provided estimates for Clorox’s earnings, with the highest EPS estimate coming in at $2.59 and the lowest estimate coming in at $2.06. Clorox posted earnings of $1.59 per share during the same quarter last year, which would suggest a positive year-over-year growth rate of 49.7%. The firm is scheduled to report its next quarterly earnings report before the market opens on Monday, November 2nd.

According to Zacks, analysts expect that Clorox will report full-year earnings of $7.73 per share for the current financial year, with EPS estimates ranging from $7.40 to $7.90. For the next fiscal year, analysts expect that the company will post earnings of $8.06 per share, with EPS estimates ranging from $7.60 to $8.89. Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of analysts that cover Clorox.

Clorox (NYSE:CLX) last released its earnings results on Monday, August 3rd. The company reported $2.41 earnings per share for the quarter, beating the Zacks’ consensus estimate of $2.00 by $0.41. The firm had revenue of $1.98 billion for the quarter, compared to analysts’ expectations of $1.86 billion. Clorox had a net margin of 13.97% and a return on equity of 138.70%. The company’s quarterly revenue was up 21.9% on a year-over-year basis. During the same period in the previous year, the company earned $1.88 earnings per share.

A number of research firms have weighed in on CLX. DA Davidson dropped their target price on shares of Clorox from $269.00 to $263.00 and set a “buy” rating on the stock in a research note on Wednesday. Morgan Stanley boosted their price target on shares of Clorox from $193.00 to $197.00 and gave the company an “underweight” rating in a research report on Tuesday, August 4th. Citigroup boosted their price target on shares of Clorox from $206.00 to $246.00 and gave the company a “neutral” rating in a research report on Tuesday, August 4th. JPMorgan Chase & Co. boosted their price target on shares of Clorox from $203.00 to $235.00 and gave the company an “overweight” rating in a research report on Thursday, July 16th. Finally, Zacks Investment Research lowered shares of Clorox from a “buy” rating to a “hold” rating and set a $249.00 price target on the stock. in a research report on Thursday, August 6th. Three analysts have rated the stock with a sell rating, seven have given a hold rating and three have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and an average target price of $206.54.

CLX traded down $2.43 during midday trading on Monday, reaching $209.22. The company had a trading volume of 1,311,353 shares, compared to its average volume of 1,379,446. The company has a debt-to-equity ratio of 3.06, a quick ratio of 1.10 and a current ratio of 1.42. 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. Clorox has a 12-month low of $144.31 and a 12-month high of $239.87. The business has a 50-day moving average price of $216.80 and a two-hundred day moving average price of $208.16.

The company also recently announced 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. This represents a $4.44 dividend on an annualized basis and a yield of 2.12%. The ex-dividend date is Tuesday, November 3rd. Clorox’s dividend payout ratio (DPR) is presently 60.33%.

In other Clorox news, SVP Diego J. Barral sold 10,041 shares of the business’s stock in a transaction that occurred on Tuesday, August 4th. The shares were sold at an average price of $235.59, for a total value of $2,365,559.19. Following the completion of the transaction, the senior vice president now owns 13,931 shares of the company’s stock, valued at approximately $3,282,004.29. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, SVP Andrew J. Mowery sold 12,932 shares of the business’s stock in a transaction that occurred on Thursday, August 6th. The stock was sold at an average price of $235.97, for a total transaction of $3,051,564.04. Following the completion of 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 disclosure for this sale can be found here. Corporate insiders own 1.14% of the company’s stock.

Hedge funds have recently added to or reduced their stakes in the business. Marshall Wace North America L.P. bought a new position in shares of Clorox in the 1st quarter worth about $65,000. Public Employees Retirement Association of Colorado increased its stake in Clorox by 5.1% during the 1st quarter. Public Employees Retirement Association of Colorado now owns 23,351 shares of the company’s stock valued at $4,046,000 after purchasing an additional 1,134 shares in the last quarter. Rockefeller Capital Management L.P. increased its stake in Clorox by 433.8% during the 1st quarter. Rockefeller Capital Management L.P. now owns 3,849 shares of the company’s stock valued at $667,000 after purchasing an additional 3,128 shares in the last quarter. Piedmont Investment Advisors Inc. increased its stake in Clorox by 13.2% during the 1st quarter. Piedmont Investment Advisors Inc. now owns 11,377 shares of the company’s stock valued at $1,971,000 after purchasing an additional 1,324 shares in the last quarter. Finally, Principal Financial Group Inc. increased its stake in Clorox by 0.6% during the 1st quarter. Principal Financial Group Inc. now owns 185,883 shares of the company’s stock valued at $32,204,000 after purchasing an additional 1,027 shares in the last quarter. 79.18% of the stock is owned by institutional investors and hedge funds.

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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