Equities research analysts expect Clorox Co (NYSE:CLX) to report sales of $1.53 billion for the current fiscal quarter, according to Zacks Investment Research. Five analysts have provided estimates for Clorox’s earnings. The lowest sales estimate is $1.52 billion and the highest is $1.55 billion. Clorox posted sales of $1.50 billion during the same quarter last year, which suggests a positive year over year growth rate of 2%. The company is expected to issue its next quarterly earnings report on Wednesday, November 7th.
On average, analysts expect that Clorox will report full-year sales of $6.34 billion for the current year, with estimates ranging from $6.30 billion to $6.37 billion. For the next financial year, analysts anticipate that the firm will post sales of $6.52 billion per share, with estimates ranging from $6.48 billion to $6.53 billion. Zacks’ sales calculations are an average based on a survey of sell-side research analysts that follow Clorox.
Clorox (NYSE:CLX) last announced its quarterly earnings results on Thursday, August 2nd. The company reported $1.66 EPS for the quarter, beating the Zacks’ consensus estimate of $1.58 by $0.08. The company had revenue of $1.69 billion for the quarter, compared to analysts’ expectations of $1.72 billion. Clorox had a net margin of 13.44% and a return on equity of 103.18%. Clorox’s revenue was up 2.7% compared to the same quarter last year. During the same period in the prior year, the company posted $1.53 EPS.
A number of analysts recently commented on the stock. ValuEngine upgraded shares of Clorox from a “sell” rating to a “hold” rating in a research note on Tuesday, June 26th. Bank of America upped their price target on shares of Clorox from $130.00 to $140.00 and gave the company a “neutral” rating in a research note on Monday, July 16th. UBS Group assumed coverage on shares of Clorox in a research note on Wednesday, July 18th. They set a “sell” rating and a $110.00 price target on the stock. Goldman Sachs Group cut shares of Clorox from a “neutral” rating to a “sell” rating and dropped their price target for the company from $127.00 to $112.00 in a research note on Tuesday, July 17th. They noted that the move was a valuation call. Finally, BMO Capital Markets restated a “buy” rating and set a $153.00 price target on shares of Clorox in a research note on Friday, August 3rd. Three analysts have rated the stock with a sell rating, eleven have assigned a hold rating and two have issued a buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $130.42.
Shares of CLX stock opened at $151.38 on Friday. The company has a market cap of $19.32 billion, a P/E ratio of 26.37, a price-to-earnings-growth ratio of 3.12 and a beta of 0.35. The company has a debt-to-equity ratio of 3.15, a quick ratio of 0.67 and a current ratio of 1.09. Clorox has a 12 month low of $113.57 and a 12 month high of $152.39.
Clorox announced that its board has authorized a share buyback program on Thursday, May 24th that permits the company to buyback $2.00 billion in outstanding shares. This buyback authorization permits the company to reacquire up to 12.6% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s management believes its stock is undervalued.
In related news, EVP Linda J. Rendle sold 382 shares of the company’s stock in a transaction that occurred on Thursday, September 6th. The shares were sold at an average price of $148.32, for a total transaction of $56,658.24. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, SVP Michael R. Costello sold 9,265 shares of the company’s stock in a transaction that occurred on Monday, August 13th. The stock was sold at an average price of $140.02, for a total transaction of $1,297,285.30. Following the sale, the senior vice president now directly owns 34,293 shares in the company, valued at approximately $4,801,705.86. The disclosure for this sale can be found here. Insiders have sold a total of 29,268 shares of company stock worth $4,196,686 in the last ninety days. 1.00% of the stock is currently owned by insiders.
A number of institutional investors have recently bought and sold shares of the stock. Parnassus Investments CA increased its holdings in Clorox by 1.6% during the 2nd quarter. Parnassus Investments CA now owns 4,711,970 shares of the company’s stock worth $637,294,000 after acquiring an additional 76,149 shares during the period. Northern Trust Corp increased its holdings in Clorox by 1.2% during the 1st quarter. Northern Trust Corp now owns 2,615,416 shares of the company’s stock worth $348,137,000 after acquiring an additional 31,461 shares during the period. Macquarie Group Ltd. increased its holdings in shares of Clorox by 437,400.0% in the 2nd quarter. Macquarie Group Ltd. now owns 1,750,000 shares of the company’s stock worth $236,688,000 after buying an additional 1,749,600 shares during the last quarter. Valueinvest Asset Management S.A. increased its holdings in shares of Clorox by 2.1% in the 1st quarter. Valueinvest Asset Management S.A. now owns 1,642,800 shares of the company’s stock worth $218,673,000 after buying an additional 33,300 shares during the last quarter. Finally, Schroder Investment Management Group increased its holdings in shares of Clorox by 57.0% in the 2nd quarter. Schroder Investment Management Group now owns 1,506,358 shares of the company’s stock worth $201,641,000 after buying an additional 547,070 shares during the last quarter. 78.14% of the stock is currently owned by institutional investors and hedge funds.
Clorox Company Profile
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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