Brokerages Expect Clorox Co (NYSE:CLX) to Post $1.85 Earnings Per Share

Wall Street analysts expect that Clorox Co (NYSE:CLX) will post $1.85 earnings per share for the current fiscal quarter, Zacks Investment Research reports. Five analysts have issued estimates for Clorox’s earnings. The highest EPS estimate is $1.86 and the lowest is $1.82. Clorox reported earnings per share of $1.66 during the same quarter last year, which would suggest a positive year-over-year growth rate of 11.4%. The company is expected to announce its next earnings report on Thursday, August 1st.

According to Zacks, analysts expect that Clorox will report full-year earnings of $6.29 per share for the current financial year, with EPS estimates ranging from $6.25 to $6.31. For the next fiscal year, analysts anticipate that the business will post earnings of $6.53 per share, with EPS estimates ranging from $6.34 to $6.70. Zacks’ earnings per share calculations are a mean average based on a survey of sell-side analysts that follow Clorox.

Clorox (NYSE:CLX) last announced its earnings results on Wednesday, May 1st. The company reported $1.44 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.47 by ($0.03). The firm had revenue of $1.55 billion during the quarter, compared to analysts’ expectations of $1.57 billion. Clorox had a net margin of 12.68% and a return on equity of 108.82%. The business’s revenue for the quarter was up 2.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.37 EPS.

CLX has been the subject of several analyst reports. Zacks Investment Research downgraded shares of Clorox from a “hold” rating to a “sell” rating in a report on Tuesday, April 16th. Bank of America reiterated a “neutral” rating and issued a $154.00 target price (down previously from $165.00) on shares of Clorox in a report on Thursday, May 2nd. JPMorgan Chase & Co. downgraded shares of Clorox from a “neutral” rating to an “underweight” rating and lowered their target price for the company from $159.00 to $139.00 in a report on Monday, April 8th. Citigroup set a $156.00 price target on shares of Clorox and gave the company a “hold” rating in a research report on Thursday, May 23rd. Finally, Credit Suisse Group initiated coverage on shares of Clorox in a research report on Wednesday, March 6th. They set an “outperform” rating and a $172.00 price target for the company. Four analysts have rated the stock with a sell rating, eight have issued a hold rating and three have assigned a buy rating to the stock. Clorox presently has a consensus rating of “Hold” and an average price target of $149.29.

Shares of CLX stock traded up $0.97 on Friday, hitting $157.10. The stock had a trading volume of 21,136 shares, compared to its average volume of 1,046,250. The company has a market cap of $19.89 billion, a P/E ratio of 25.10, a P/E/G ratio of 4.56 and a beta of 0.38. The company has a debt-to-equity ratio of 2.93, a current ratio of 1.10 and a quick ratio of 0.66. Clorox has a 12-month low of $125.40 and a 12-month high of $167.70.

The business also recently declared a quarterly dividend, which will be paid on Friday, August 16th. Investors of record on Wednesday, July 31st will be given a dividend of $1.06 per share. The ex-dividend date is Tuesday, July 30th. This represents a $4.24 annualized dividend and a yield of 2.70%. This is a positive change from Clorox’s previous quarterly dividend of $0.96. Clorox’s dividend payout ratio is presently 61.34%.

In related news, SVP Denise Garner sold 20,399 shares of the stock in a transaction dated Friday, June 7th. The shares were sold at an average price of $157.61, for a total transaction of $3,215,086.39. Following the completion of the transaction, the senior vice president now owns 4,896 shares in the company, valued at $771,658.56. The transaction was disclosed in a document filed with the SEC, which is available through this link. 1.40% of the stock is currently owned by corporate insiders.

A number of institutional investors and hedge funds have recently bought and sold shares of CLX. Belpointe Asset Management LLC boosted its position in Clorox by 61.1% during the first quarter. Belpointe Asset Management LLC now owns 1,244 shares of the company’s stock worth $200,000 after purchasing an additional 472 shares during the period. Meridian Wealth Management LLC boosted its position in Clorox by 7.4% during the first quarter. Meridian Wealth Management LLC now owns 3,572 shares of the company’s stock worth $573,000 after purchasing an additional 245 shares during the period. Marshall Wace North America L.P. bought a new position in Clorox during the first quarter worth about $65,000. ZWJ Investment Counsel Inc. bought a new position in Clorox during the first quarter worth about $282,000. Finally, Advisory Services Network LLC boosted its position in Clorox by 19.0% during the first quarter. Advisory Services Network LLC now owns 9,228 shares of the company’s stock worth $1,481,000 after purchasing an additional 1,476 shares during the period. Institutional investors own 77.67% of the company’s stock.

About Clorox

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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