According to Zacks, “Clorox's solid brand portfolio places it well to sustain in the currently challenging environment. The company remains keen on the execution of its 2020 Strategy, which is aimed at boosting growth and overall market share. However, significant global presence exposes Clorox to foreign currency risks, which have been hurting its results for a while now. Going forward, these woes, tough year-over-year comparisons and a challenging macroeconomic environment may pose concerns. Additionally, stiff competition and high trade spending remain threats. Nonetheless, the company’s key strategies, cost saving efforts and efficient pricing bode well, as they are likely to drive margins. These factors also caused the company to provide a robust sales and earnings outlook for fiscal 2017, as management remains confident of its core business strategies. Estimates have been stable ahead of its first quarter earnings release.”
A number of other brokerages have also recently weighed in on CLX. Jefferies Group reiterated a hold rating on shares of Clorox in a research report on Wednesday, August 3rd. B. Riley reiterated a neutral rating and set a $109.00 price target on shares of Clorox in a research report on Tuesday, August 9th. Atlantic Securities initiated coverage on shares of Clorox in a research report on Tuesday, June 14th. They set a neutral rating and a $138.00 price target for the company. Deutsche Bank AG reiterated a hold rating and set a $134.00 price target (up from $130.00) on shares of Clorox in a research report on Sunday, July 24th. Finally, Citigroup Inc. lifted their price target on shares of Clorox from $134.00 to $144.00 and gave the company a neutral rating in a research report on Monday, August 8th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and one has assigned a buy rating to the stock. The stock has an average rating of Hold and an average target price of $128.90.
Clorox (NYSE:CLX) opened at 122.65 on Tuesday. The company has a market cap of $15.88 billion, a price-to-earnings ratio of 24.93 and a beta of 0.30. The company’s 50 day moving average is $126.61 and its 200 day moving average is $129.88. Clorox has a 1-year low of $119.23 and a 1-year high of $140.47.
Clorox (NYSE:CLX) last released its quarterly earnings data on Wednesday, August 3rd. The company reported $1.26 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.28 by $0.02. Clorox had a return on equity of 296.91% and a net margin of 11.25%. The firm had revenue of $1.60 billion for the quarter, compared to analyst estimates of $1.58 billion. During the same quarter in the previous year, the business posted $1.44 earnings per share. Clorox’s revenue for the quarter was up 2.8% on a year-over-year basis. Equities research analysts forecast that Clorox will post $5.49 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Monday, November 14th. Investors of record on Wednesday, October 26th will be paid a $0.80 dividend. The ex-dividend date of this dividend is Monday, October 24th. This represents a $3.20 dividend on an annualized basis and a yield of 2.61%. Clorox’s dividend payout ratio is currently 64.91%.
In related news, EVP Laura Stein sold 38,882 shares of Clorox stock in a transaction that occurred on Friday, September 2nd. The shares were sold at an average price of $131.69, for a total value of $5,120,370.58. Following the completion of the transaction, the executive vice president now owns 48,501 shares in the company, valued at $6,387,096.69. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Nikolaos A. Vlahos sold 925 shares of Clorox stock in a transaction that occurred on Wednesday, August 10th. The stock was sold at an average price of $133.07, for a total transaction of $123,089.75. The disclosure for this sale can be found here. 0.74% of the stock is currently owned by corporate insiders.
A number of hedge funds and other institutional investors have recently modified their holdings of CLX. Picton Mahoney Asset Management bought a new stake in Clorox during the first quarter worth $1,223,000. Huntington Asset Advisors Inc. bought a new stake in Clorox during the first quarter worth $1,418,000. M&T Bank Corp boosted its stake in Clorox by 2.2% in the first quarter. M&T Bank Corp now owns 54,597 shares of the company’s stock worth $6,883,000 after buying an additional 1,172 shares during the last quarter. CapWealth Advisors LLC boosted its stake in Clorox by 9.9% in the first quarter. CapWealth Advisors LLC now owns 3,890 shares of the company’s stock worth $490,000 after buying an additional 350 shares during the last quarter. Finally, C M Bidwell & Associates Ltd. bought a new stake in Clorox during the first quarter worth $3,412,000. Institutional investors own 70.21% of the company’s stock.
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.
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