Zacks: Analysts Expect The Clorox Company (NYSE:CLX) Will Announce Quarterly Sales of $1.92 Billion


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Equities analysts expect The Clorox Company (NYSE:CLX) to report sales of $1.92 billion for the current quarter, according to Zacks Investment Research. Three analysts have made estimates for The Clorox’s earnings. The highest sales estimate is $1.93 billion and the lowest is $1.91 billion. The Clorox posted sales of $1.98 billion in the same quarter last year, which suggests a negative year over year growth rate of 3%. The business is expected to issue its next quarterly earnings report on Monday, August 2nd.

According to Zacks, analysts expect that The Clorox will report full-year sales of $7.55 billion for the current fiscal year, with estimates ranging from $7.54 billion to $7.56 billion. For the next year, analysts expect that the firm will post sales of $7.63 billion, with estimates ranging from $7.37 billion to $7.91 billion. Zacks’ sales averages are an average based on a survey of sell-side research firms that follow The Clorox.

The Clorox (NYSE:CLX) last released its quarterly earnings results on Thursday, April 29th. The company reported $1.62 earnings per share for the quarter, topping the consensus estimate of $1.48 by $0.14. The company had revenue of $1.78 billion during the quarter, compared to the consensus estimate of $1.86 billion. The Clorox had a return on equity of 132.72% and a net margin of 16.14%. The Clorox’s revenue was down .1% compared to the same quarter last year. During the same quarter last year, the business posted $1.89 earnings per share.

A number of equities research analysts have recently commented on CLX shares. Bank of America lowered their price objective on The Clorox from $245.00 to $235.00 and set a “neutral” rating for the company in a research report on Friday, January 22nd. Deutsche Bank Aktiengesellschaft lowered their price objective on The Clorox from $195.00 to $186.00 and set a “hold” rating for the company in a research report on Monday. DA Davidson lowered their price objective on The Clorox from $189.00 to $177.00 and set a “neutral” rating for the company in a research report on Monday. Credit Suisse Group lowered their price target on The Clorox from $205.00 to $185.00 and set a “neutral” rating for the company in a research report on Monday. Finally, JPMorgan Chase & Co. lowered their price target on The Clorox from $205.00 to $196.00 and set a “neutral” rating for the company in a research report on Thursday, April 22nd. Four investment analysts have rated the stock with a sell rating, ten have issued a hold rating and three have assigned a buy rating to the company. The stock has an average rating of “Hold” and a consensus target price of $205.71.

Shares of NYSE:CLX traded up $1.97 during midday trading on Tuesday, reaching $182.60. The company’s stock had a trading volume of 1,664,454 shares, compared to its average volume of 1,733,647. The firm has a market cap of $22.97 billion, a price-to-earnings ratio of 20.33, a price-to-earnings-growth ratio of 3.39 and a beta of 0.21. The company has a quick ratio of 1.06, a current ratio of 1.41 and a debt-to-equity ratio of 2.12. The Clorox has a 1 year low of $176.73 and a 1 year high of $239.87. The business has a 50 day moving average price of $189.76 and a 200 day moving average price of $197.08.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 7th. Investors of record on Wednesday, April 21st will be issued a $1.11 dividend. This represents a $4.44 annualized dividend and a yield of 2.43%. The ex-dividend date of this dividend is Tuesday, April 20th. The Clorox’s dividend payout ratio is currently 60.33%.

A number of institutional investors have recently made changes to their positions in the stock. Marshall Wace North America L.P. bought a new position in shares of The Clorox during the first quarter valued at approximately $65,000. IHT Wealth Management LLC grew its holdings in shares of The Clorox by 89.3% during the third quarter. IHT Wealth Management LLC now owns 3,175 shares of the company’s stock valued at $667,000 after purchasing an additional 1,498 shares during the last quarter. Kathmere Capital Management LLC bought a new position in shares of The Clorox during the third quarter valued at approximately $84,000. Sei Investments Co. grew its holdings in shares of The Clorox by 25.3% during the third quarter. Sei Investments Co. now owns 75,293 shares of the company’s stock valued at $15,790,000 after purchasing an additional 15,223 shares during the last quarter. Finally, Mercer Global Advisors Inc. ADV grew its holdings in shares of The Clorox by 253.9% during the third quarter. Mercer Global Advisors Inc. ADV now owns 25,614 shares of the company’s stock valued at $5,553,000 after purchasing an additional 18,377 shares during the last quarter. 81.73% of the stock is owned by hedge funds and other institutional investors.

About The Clorox

The Clorox Company manufactures and markets consumer and professional products worldwide. It operates through four segments: Health and Wellness, 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, Scentiva, Formula 409, Liquid-Plumr, Pine-Sol, S.O.S, and Tilex brands; naturally derived products under the Green Works brand; professional cleaning, disinfecting, and food service products under the CloroxPro, Clorox Healthcare, and Clorox Total 360 brands; professional food service products under the Hidden Valley brand; and vitamins, minerals, and supplement products under the RenewLife, Rainbow Light, Natural Vitality, NeoCell, and Stop Aging Now brands.

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