Brokers Set Expectations for Clorox Co’s Q3 2018 Earnings (CLX)

Clorox Co (NYSE:CLX) – Equities research analysts at KeyCorp boosted their Q3 2018 earnings per share (EPS) estimates for Clorox in a research note issued to investors on Sunday. KeyCorp analyst J. Gere now anticipates that the company will earn $1.29 per share for the quarter, up from their previous forecast of $1.24. KeyCorp also issued estimates for Clorox’s FY2018 earnings at $6.17 EPS and FY2019 earnings at $6.60 EPS.

Clorox (NYSE:CLX) last issued its quarterly earnings results on Friday, February 2nd. The company reported $1.23 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.22 by $0.01. The company had revenue of $1.42 billion for the quarter, compared to analysts’ expectations of $1.43 billion. Clorox had a return on equity of 126.70% and a net margin of 13.21%. The firm’s revenue for the quarter was up .7% on a year-over-year basis. During the same period in the prior year, the firm earned $1.14 earnings per share.

Other equities research analysts also recently issued reports about the company. Argus downgraded Clorox from a “buy” rating to a “hold” rating and dropped their target price for the stock from $150.40 to $127.81 in a report on Thursday. Zacks Investment Research upgraded Clorox from a “hold” rating to a “buy” rating and set a $161.00 price objective for the company in a research note on Wednesday, January 24th. Morgan Stanley cut their price objective on Clorox from $140.00 to $133.00 and set an “equal weight” rating for the company in a research note on Monday. Bank of America cut their price objective on Clorox from $155.00 to $140.00 and set a “neutral” rating for the company in a research note on Monday. Finally, BMO Capital Markets set a $147.00 price objective on Clorox and gave the stock a “buy” rating in a research note on Monday. Two analysts have rated the stock with a sell rating, eleven have issued a hold rating and four have issued a buy rating to the company. The company has an average rating of “Hold” and an average target price of $131.97.

Clorox (NYSE:CLX) traded down $1.06 during trading on Wednesday, reaching $126.70. The company’s stock had a trading volume of 309,808 shares, compared to its average volume of 1,194,581. The company has a quick ratio of 0.86, a current ratio of 1.22 and a debt-to-equity ratio of 2.35. Clorox has a twelve month low of $124.09 and a twelve month high of $150.40. The company has a market capitalization of $16,540.42, a P/E ratio of 20.90, a price-to-earnings-growth ratio of 2.60 and a beta of 0.31.

Several hedge funds have recently bought and sold shares of the company. JPMorgan Chase & Co. lifted its holdings in Clorox by 63.2% in the third quarter. JPMorgan Chase & Co. now owns 417,347 shares of the company’s stock valued at $54,269,000 after acquiring an additional 161,555 shares during the last quarter. Vident Investment Advisory LLC acquired a new position in Clorox in the third quarter valued at approximately $1,477,000. Shell Asset Management Co. lifted its holdings in Clorox by 102.5% in the third quarter. Shell Asset Management Co. now owns 119,382 shares of the company’s stock valued at $11,465,000 after acquiring an additional 60,427 shares during the last quarter. Allianz Asset Management GmbH lifted its holdings in Clorox by 417.8% in the third quarter. Allianz Asset Management GmbH now owns 63,868 shares of the company’s stock valued at $8,425,000 after acquiring an additional 51,534 shares during the last quarter. Finally, Jensen Investment Management Inc. lifted its holdings in Clorox by 12.1% in the fourth quarter. Jensen Investment Management Inc. now owns 40,960 shares of the company’s stock valued at $6,092,000 after acquiring an additional 4,435 shares during the last quarter. Institutional investors and hedge funds own 73.68% of the company’s stock.

In other news, SVP Michael R. Costello sold 10,574 shares of the company’s stock in a transaction that occurred on Tuesday, November 28th. The stock was sold at an average price of $136.01, for a total value of $1,438,169.74. Following the completion of the sale, the senior vice president now directly owns 34,867 shares in the company, valued at $4,742,260.67. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 1.00% of the stock is owned by corporate insiders.

The business also recently declared a quarterly dividend, which will be paid on Friday, February 9th. Stockholders of record on Wednesday, January 24th will be given a $0.84 dividend. The ex-dividend date of this dividend is Tuesday, January 23rd. This represents a $3.36 dividend on an annualized basis and a dividend yield of 2.65%. Clorox’s dividend payout ratio (DPR) is presently 55.45%.

ILLEGAL ACTIVITY WARNING: “Brokers Set Expectations for Clorox Co’s Q3 2018 Earnings (CLX)” was first reported by Sports Perspectives and is the property of of Sports Perspectives. If you are accessing this piece of content on another website, it was stolen and reposted in violation of U.S. & international copyright law. The original version of this piece of content can be viewed at https://sportsperspectives.com/2018/02/09/brokers-set-expectations-for-clorox-cos-q3-2018-earnings-clx.html.

Clorox Company Profile

The Clorox Company is a manufacturer and marketer of consumer and professional products. The Company sells its products primarily through mass retail outlets, e-commerce channels, wholesale distributors and medical supply distributors. The Company operates through four segments: Cleaning, Household, Lifestyle and International.

Earnings History and Estimates for Clorox (NYSE:CLX)

Receive News & Ratings for Clorox Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Clorox and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply