Analysts predict that Clorox Co (NYSE:CLX) will announce earnings per share (EPS) of $1.59 for the current quarter, Zacks reports. Four analysts have made estimates for Clorox’s earnings. The lowest EPS estimate is $1.57 and the highest is $1.61. Clorox reported earnings of $1.53 per share in the same quarter last year, which would indicate a positive year-over-year growth rate of 3.9%. The firm is scheduled to announce its next quarterly earnings results on Thursday, August 2nd.
According to Zacks, analysts expect that Clorox will report full-year earnings of $6.20 per share for the current fiscal year, with EPS estimates ranging from $6.17 to $6.22. For the next year, analysts forecast that the company will post earnings of $6.38 per share, with EPS estimates ranging from $6.14 to $6.50. Zacks’ earnings per share averages are a mean average based on a survey of research firms that follow Clorox.
Clorox (NYSE:CLX) last issued its earnings results on Wednesday, May 2nd. The company reported $1.37 earnings per share for the quarter, beating the consensus estimate of $1.31 by $0.06. Clorox had a net margin of 13.27% and a return on equity of 107.93%. The business had revenue of $1.52 billion for the quarter, compared to analyst estimates of $1.51 billion. During the same period in the previous year, the business earned $1.31 EPS. The firm’s revenue was up 2.7% on a year-over-year basis.
Several analysts have recently weighed in on CLX shares. Zacks Investment Research lowered shares of Clorox from a “hold” rating to a “sell” rating in a research report on Monday, April 9th. Morgan Stanley lowered shares of Clorox from an “equal weight” rating to an “underweight” rating and decreased their target price for the company from $126.72 to $116.00 in a research report on Thursday, April 19th. They noted that the move was a valuation call. Barclays set a $131.00 target price on shares of Clorox and gave the company a “hold” rating in a research report on Friday, April 6th. JPMorgan Chase & Co. reissued a “neutral” rating and set a $138.00 price target (down from $139.00) on shares of Clorox in a report on Tuesday, March 13th. Finally, Wells Fargo & Co cut their price target on shares of Clorox from $140.00 to $130.00 and set a “market perform” rating for the company in a report on Thursday, April 19th. Three equities research analysts have rated the stock with a sell rating, ten have given a hold rating and two have given a buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $130.98.
Hedge funds and other institutional investors have recently made changes to their positions in the business. BlackRock Inc. grew its position in shares of Clorox by 0.9% during the 4th quarter. BlackRock Inc. now owns 10,213,418 shares of the company’s stock worth $1,519,143,000 after buying an additional 94,954 shares during the period. Northern Trust Corp grew its position in shares of 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 buying an additional 31,461 shares during the period. Renaissance Technologies LLC grew its position in shares of Clorox by 15.1% during the 4th quarter. Renaissance Technologies LLC now owns 2,360,600 shares of the company’s stock worth $351,116,000 after buying an additional 310,000 shares during the period. Valueinvest Asset Management S.A. grew its position in shares of Clorox by 2.1% during 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 period. Finally, Geode Capital Management LLC grew its position in shares of Clorox by 4.2% during the 4th quarter. Geode Capital Management LLC now owns 1,391,889 shares of the company’s stock worth $206,607,000 after buying an additional 56,431 shares during the period. 76.05% of the stock is owned by institutional investors.
Shares of Clorox opened at $128.91 on Wednesday, Marketbeat.com reports. The company has a current ratio of 1.18, a quick ratio of 0.93 and a debt-to-equity ratio of 2.14. Clorox has a twelve month low of $113.57 and a twelve month high of $150.40. The stock has a market cap of $16.44 billion, a PE ratio of 24.10, a price-to-earnings-growth ratio of 2.88 and a beta of 0.39.
Clorox declared that its Board of Directors has authorized a share buyback program on Thursday, May 24th that authorizes the company to repurchase $2.00 billion in shares. This repurchase authorization authorizes the company to repurchase up to 12.6% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s management believes its stock is undervalued.
The business also recently announced a quarterly dividend, which will be paid on Friday, August 17th. Shareholders of record on Wednesday, August 1st will be paid a $0.96 dividend. This represents a $3.84 dividend on an annualized basis and a dividend yield of 2.98%. The ex-dividend date is Tuesday, July 31st. Clorox’s dividend payout ratio is presently 71.78%.
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 fighters and color boosters; 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 and disinfecting products under the Clorox, Dispatch, Aplicare, HealthLink, and Clorox Healthcare brands.
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