KeyCorp Equities Analysts Raise Earnings Estimates for Clorox Co (CLX)

Clorox Co (NYSE:CLX) – Analysts at KeyCorp upped their Q3 2018 EPS estimates for Clorox in a report issued on Sunday. KeyCorp analyst J. Gere now forecasts that the company will post earnings per share of $1.29 for the quarter, up from their prior estimate 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 announced its quarterly earnings results on Friday, February 2nd. The company reported $1.23 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.22 by $0.01. Clorox had a net margin of 13.21% and a return on equity of 126.70%. The company had revenue of $1.42 billion during the quarter, compared to the consensus estimate of $1.43 billion. During the same quarter in the previous year, the company posted $1.14 earnings per share. The company’s revenue for the quarter was up .7% compared to the same quarter last year.

A number of other equities research analysts have also recently weighed in on the stock. Zacks Investment Research upgraded shares of Clorox from a “hold” rating to a “buy” rating and set a $147.00 price objective on the stock in a research note on Tuesday. BMO Capital Markets set a $147.00 price objective on shares of Clorox and gave the company a “buy” rating in a research note on Monday. Bank of America cut their price objective on shares of Clorox from $155.00 to $140.00 and set a “neutral” rating on the stock in a research note on Monday. Morgan Stanley cut their price objective on shares of Clorox from $140.00 to $133.00 and set an “equal weight” rating on the stock in a research note on Monday. Finally, Jefferies Group restated a “hold” rating and set a $148.00 price objective on shares of Clorox in a research note on Thursday, January 4th. Two analysts have rated the stock with a sell rating, ten have issued a hold rating and four have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $132.26.

Clorox (NYSE:CLX) opened at $130.42 on Wednesday. Clorox has a 1-year low of $124.09 and a 1-year high of $150.40. The company has a current ratio of 1.22, a quick ratio of 0.86 and a debt-to-equity ratio of 2.35. The stock has a market cap of $16,434.31, a price-to-earnings ratio of 21.56, a PEG ratio of 3.11 and a beta of 0.31.

A number of institutional investors have recently modified their holdings of CLX. APG Asset Management N.V. raised its position in Clorox by 38.6% in the fourth quarter. APG Asset Management N.V. now owns 1,804,215 shares of the company’s stock worth $223,483,000 after acquiring an additional 502,300 shares in the last quarter. Acadian Asset Management LLC raised its position in Clorox by 33.9% in the fourth quarter. Acadian Asset Management LLC now owns 1,049,445 shares of the company’s stock worth $156,092,000 after acquiring an additional 265,892 shares in the last quarter. JPMorgan Chase & Co. raised its position in Clorox by 63.2% in the third quarter. JPMorgan Chase & Co. now owns 417,347 shares of the company’s stock worth $54,269,000 after acquiring an additional 161,555 shares in the last quarter. Retirement Systems of Alabama raised its position in Clorox by 172.9% in the third quarter. Retirement Systems of Alabama now owns 170,419 shares of the company’s stock worth $22,480,000 after acquiring an additional 107,972 shares in the last quarter. Finally, Schroder Investment Management Group raised its position in Clorox by 192.9% in the third quarter. Schroder Investment Management Group now owns 155,304 shares of the company’s stock worth $20,194,000 after acquiring an additional 102,279 shares in the last quarter. Hedge funds and other institutional investors own 73.68% of the company’s stock.

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

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 9th. Shareholders of record on Wednesday, January 24th will be given a $0.84 dividend. This represents a $3.36 annualized dividend and a yield of 2.58%. The ex-dividend date of this dividend is Tuesday, January 23rd. Clorox’s dividend payout ratio (DPR) is presently 55.45%.

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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)

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