The Clorox Company (NYSE:CLX) Receives Average Recommendation of “Reduce” from Brokerages

The Clorox Company (NYSE:CLX) has received an average rating of “Reduce” from the sixteen brokerages that are currently covering the stock, Marketbeat Ratings reports. Three equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and one has given a buy rating to the company. The average 12-month price target among brokers that have covered the stock in the last year is $118.7333.

Several research firms have recently weighed in on CLX. Deutsche Bank Aktiengesellschaft decreased their price objective on shares of Clorox from $114.00 to $112.00 and set a “hold” rating for the company in a research report on Wednesday, February 4th. Weiss Ratings upgraded shares of Clorox from a “sell (d+)” rating to a “hold (c-)” rating in a report on Monday, March 2nd. Wall Street Zen upgraded Clorox from a “sell” rating to a “hold” rating in a report on Saturday, February 7th. Barclays reissued an “underweight” rating and issued a $109.00 price objective on shares of Clorox in a research report on Friday, January 16th. Finally, UBS Group boosted their price objective on Clorox from $115.00 to $121.00 and gave the company a “neutral” rating in a research note on Wednesday, February 4th.

Clorox Stock Performance

Shares of CLX stock opened at $101.92 on Friday. The business’s 50 day simple moving average is $115.64 and its 200 day simple moving average is $112.32. Clorox has a one year low of $96.66 and a one year high of $150.84. The stock has a market capitalization of $12.32 billion, a PE ratio of 16.65, a PEG ratio of 0.50 and a beta of 0.59. The company has a debt-to-equity ratio of 71.03, a current ratio of 0.74 and a quick ratio of 0.48.

Clorox (NYSE:CLX) last released its quarterly earnings results on Tuesday, February 3rd. The company reported $1.39 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.43 by ($0.04). The firm had revenue of $1.67 billion for the quarter, compared to the consensus estimate of $1.64 billion. Clorox had a return on equity of 383.01% and a net margin of 11.17%.The firm’s revenue for the quarter was down .8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.55 EPS. As a group, research analysts forecast that Clorox will post 7.15 earnings per share for the current year.

Clorox Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 8th. Shareholders of record on Wednesday, April 22nd will be paid a $1.24 dividend. The ex-dividend date of this dividend is Wednesday, April 22nd. This represents a $4.96 annualized dividend and a yield of 4.9%. Clorox’s payout ratio is 81.05%.

Institutional Trading of Clorox

Several hedge funds have recently modified their holdings of the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in Clorox by 4.0% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 13,380 shares of the company’s stock valued at $1,970,000 after purchasing an additional 514 shares during the period. Woodline Partners LP raised its holdings in Clorox by 253.7% during the first quarter. Woodline Partners LP now owns 10,407 shares of the company’s stock worth $1,532,000 after buying an additional 7,465 shares during the last quarter. Prudential Financial Inc. raised its holdings in Clorox by 12.5% during the second quarter. Prudential Financial Inc. now owns 74,043 shares of the company’s stock worth $8,890,000 after buying an additional 8,213 shares during the last quarter. Global Retirement Partners LLC bought a new position in shares of Clorox in the second quarter valued at $224,000. Finally, J.W. Cole Advisors Inc. grew its holdings in shares of Clorox by 25.8% during the second quarter. J.W. Cole Advisors Inc. now owns 9,328 shares of the company’s stock valued at $1,120,000 after buying an additional 1,911 shares during the last quarter. Institutional investors own 78.53% of the company’s stock.

About Clorox

The Clorox Company is a leading manufacturer and marketer of consumer and professional products designed to help people care for their homes and live healthy, sustainable lives. Its portfolio spans cleaning and household products, food and beverages, water filtration systems and cat litter, serving both retail and institutional customers. The company’s flagship bleach and disinfecting products are well known in the United States and many international markets, where they help prevent the spread of germs in homes, hospitals, schools and businesses.

Clorox’s diverse brand lineup includes liquid bleach and surface cleaners, eco-friendly cleaning tools, food preservation and preparation items, charcoal grills and briquettes, specialty foods and beverages, pet care products and personal care lines.