Zacks: Analysts Anticipate Clorox Co (CLX) Will Post Quarterly Sales of $1.57 Billion

Equities analysts expect that Clorox Co (NYSE:CLX) will report $1.57 billion in sales for the current quarter, Zacks reports. Five analysts have issued estimates for Clorox’s earnings, with the lowest sales estimate coming in at $1.55 billion and the highest estimate coming in at $1.59 billion. Clorox posted sales of $1.52 billion in the same quarter last year, which suggests a positive year-over-year growth rate of 3.3%. The company is expected to announce its next quarterly earnings report on Wednesday, May 1st.

On average, analysts expect that Clorox will report full year sales of $6.33 billion for the current fiscal year, with estimates ranging from $6.29 billion to $6.35 billion. For the next financial year, analysts expect that the company will report sales of $6.51 billion, with estimates ranging from $6.48 billion to $6.54 billion. Zacks Investment Research’s sales calculations are an average based on a survey of research analysts that that provide coverage for Clorox.

Clorox (NYSE:CLX) last issued its quarterly earnings results on Monday, February 4th. The company reported $1.40 EPS for the quarter, topping the consensus estimate of $1.32 by $0.08. Clorox had a net margin of 12.65% and a return on equity of 105.97%. The business had revenue of $1.47 billion for the quarter, compared to analysts’ expectations of $1.47 billion. During the same quarter last year, the company posted $1.77 earnings per share. The company’s quarterly revenue was up 4.0% compared to the same quarter last year.

Several research analysts have issued reports on CLX shares. Zacks Investment Research upgraded shares of Clorox from a “hold” rating to a “buy” rating and set a $177.00 price target on the stock in a research report on Monday. Credit Suisse Group began coverage on shares of Clorox in a research note on Wednesday, March 6th. They set an “outperform” rating and a $172.00 target price for the company. Wells Fargo & Co reissued a “hold” rating and set a $157.00 target price on shares of Clorox in a research note on Thursday, February 21st. Barclays restated a “hold” rating and set a $142.00 price target on shares of Clorox in a report on Wednesday, February 6th. Finally, Citigroup set a $171.00 price target on shares of Clorox and gave the company a “hold” rating in a report on Tuesday, February 5th. Four equities research analysts have rated the stock with a sell rating, five have issued a hold rating and five have issued a buy rating to the company’s stock. Clorox currently has a consensus rating of “Hold” and an average target price of $152.15.

Shares of NYSE CLX traded up $0.84 during mid-day trading on Friday, reaching $160.67. 1,405,780 shares of the company traded hands, compared to its average volume of 1,028,274. Clorox has a fifty-two week low of $113.57 and a fifty-two week high of $167.70. The company has a debt-to-equity ratio of 3.08, a current ratio of 1.15 and a quick ratio of 0.66. The firm has a market capitalization of $20.52 billion, a PE ratio of 25.67, a P/E/G ratio of 3.95 and a beta of 0.32.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 10th. Stockholders of record on Wednesday, April 24th will be given a $0.96 dividend. This represents a $3.84 annualized dividend and a dividend yield of 2.39%. The ex-dividend date is Tuesday, April 23rd. Clorox’s payout ratio is presently 61.34%.

In other Clorox news, SVP Andrew J. Mowery sold 5,340 shares of the firm’s stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $156.44, for a total value of $835,389.60. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, COO Dawn C. Willoughby sold 25,317 shares of the firm’s stock in a transaction dated Monday, December 17th. The shares were sold at an average price of $160.68, for a total transaction of $4,067,935.56. Following the completion of the transaction, the chief operating officer now directly owns 28,244 shares in the company, valued at $4,538,245.92. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 41,242 shares of company stock worth $6,532,251. 1.40% of the stock is owned by insiders.

A number of large investors have recently bought and sold shares of CLX. Cornerstone Wealth Management LLC increased its stake in shares of Clorox by 4.9% in the 3rd quarter. Cornerstone Wealth Management LLC now owns 14,699 shares of the company’s stock valued at $115,000 after acquiring an additional 680 shares in the last quarter. HL Financial Services LLC increased its stake in shares of Clorox by 3.8% in the 3rd quarter. HL Financial Services LLC now owns 11,739 shares of the company’s stock valued at $1,766,000 after acquiring an additional 425 shares in the last quarter. Gulf International Bank UK Ltd increased its stake in Clorox by 2.5% during the 3rd quarter. Gulf International Bank UK Ltd now owns 40,572 shares of the company’s stock valued at $6,102,000 after purchasing an additional 1,000 shares in the last quarter. Janney Montgomery Scott LLC increased its stake in Clorox by 7.7% during the 3rd quarter. Janney Montgomery Scott LLC now owns 41,764 shares of the company’s stock valued at $6,282,000 after purchasing an additional 2,973 shares in the last quarter. Finally, Brookstone Capital Management bought a new stake in Clorox during the 3rd quarter valued at $507,000. Institutional investors and hedge funds own 76.19% of the company’s stock.

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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