The Clorox Receives “Neutral” Rating from Zacks (CLX)
The Clorox (NYSE:CLX)‘s stock had its “neutral” rating restated by Zacks in a research report issued to clients and investors on Thursday. They currently have a $93.00 price objective on the stock. Zacks‘s target price would suggest a potential upside of 5.07% from the stock’s previous close.
Zacks’ analyst wrote, “Battered by unfavorable exchange rates, higher raw material prices and increased competitive activities, Clorox reported yet another quarter of dismal results wherein it’s top and bottom lines for fourth-quarter fiscal 2014 declined year over year. Looking ahead, the company reiterated its bleak outlook for fiscal 2015, as it expects pressure from aforementioned factors to continue to impact results. Additionally, we remain concerned about the lingering macroeconomic headwinds in Venezuela and Argentina. Despite all these, we have maintained our long-term Neutral recommendation as we are partially constructive about the stock’s performance given its sustained focus on brand-building, global expansion and cost saving initiatives. Furthermore, we also appreciate the company’s cash flow generation capabilities which help it to invest in the development of business as well as returning excess cash to shareholders.”
Shares of The Clorox (NYSE:CLX) traded down 0.02% on Thursday, hitting $88.49. 313,078 shares of the company’s stock traded hands. The Clorox has a 52-week low of $80.20 and a 52-week high of $96.76. The stock’s 50-day moving average is $90.33 and its 200-day moving average is $88.88. The company has a market cap of $11.416 billion and a P/E ratio of 20.92.
The Clorox (NYSE:CLX) last announced its earnings results on Friday, August 1st. The company reported $1.30 earnings per share for the quarter, missing the analysts’ consensus estimate of $1.35 by $0.05. The company had revenue of $1.51 billion for the quarter, compared to the consensus estimate of $1.52 billion. During the same quarter last year, the company posted $1.38 earnings per share. The Clorox’s revenue was down 2.3% compared to the same quarter last year. Analysts expect that The Clorox will post $4.42 EPS for the current fiscal year.
CLX has been the subject of a number of other recent research reports. Analysts at B. Riley cut their price target on shares of The Clorox from $79.00 to $77.00 in a research note on Monday, August 4th. They now have a “neutral” rating on the stock. Analysts at BTIG Research downgraded shares of The Clorox from a “buy” rating to a “neutral” rating in a research note on Friday, July 18th. They now have a $92.00 price target on the stock. Four analysts have rated the stock with a sell rating, five have given a hold rating and one has given a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $80.90.
The Clorox Company (NYSE:CLX) is a manufacturer and marketer of consumer and professional products.
To view Zacks’ full report, visit Zacks’ official website.
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