The Clorox Price Target Cut to $79.00 by Analysts at B. Riley (CLX)
Stock analysts at B. Riley lowered their target price on shares of The Clorox (NYSE:CLX) from $85.00 to $79.00 in a report issued on Monday, Stock Ratings News reports. The firm currently has a “neutral” rating on the stock. B. Riley’s price objective suggests a potential downside of 10.89% from the stock’s previous close.
Shares of The Clorox (NYSE:CLX) traded up 0.34% during mid-day trading on Monday, hitting $88.65. The stock had a trading volume of 659,369 shares. The Clorox has a 52-week low of $80.20 and a 52-week high of $96.76. The stock has a 50-day moving average of $89.01 and a 200-day moving average of $89.60. The company has a market cap of $11.399 billion and a price-to-earnings ratio of 20.53.
The Clorox (NYSE:CLX) last posted its quarterly earnings results on Thursday, May 1st. The company reported $1.05 EPS for the quarter, missing the Thomson Reuters consensus estimate of $1.08 by $0.03. The company had revenue of $1.39 billion for the quarter, compared to the consensus estimate of $1.43 billion. During the same quarter in the prior year, the company posted $1.00 earnings per share. The company’s quarterly revenue was down 1.9% on a year-over-year basis. On average, analysts predict that The Clorox will post $4.33 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Friday, August 8th. Investors of record on Wednesday, July 23rd will be paid a dividend of $0.74 per share. This represents a $2.96 annualized dividend and a dividend yield of 3.34%. The ex-dividend date of this dividend is Monday, July 21st. This is a boost from The Clorox’s previous quarterly dividend of $0.71.
A number of other firms have also recently commented on CLX. Analysts at BMO Capital Markets cut their price target on shares of The Clorox from $83.00 to $4.00 in a research note on Tuesday, May 6th. Analysts at Zacks reiterated a “neutral” rating on shares of The Clorox in a research note on Thursday, February 27th. They now have a $91.00 price target on the stock. Four research analysts have rated the stock with a sell rating, five have issued a hold rating and two have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average price target of $80.70.
In other The Clorox news, CMO Thomas Britanik sold 21,320 shares of the stock in a transaction that occurred on Thursday, May 8th. The shares were sold at an average price of $88.00, for a total value of $1,876,160.00. Following the sale, the chief marketing officer now directly owns 13,587 shares of the company’s stock, valued at approximately $1,195,656. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.
The Clorox Company (NYSE:CLX) is a manufacturer and marketer of consumer and professional products.
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.