Zacks: Brokerages Expect Clorox Co (NYSE:CLX) Will Post Quarterly Sales of $1.54 Billion

Equities analysts expect Clorox Co (NYSE:CLX) to post $1.54 billion in sales for the current fiscal quarter, Zacks reports. Three analysts have issued estimates for Clorox’s earnings. The highest sales estimate is $1.55 billion and the lowest is $1.52 billion. Clorox reported sales of $1.56 billion during the same quarter last year, which would suggest a negative year over year growth rate of 1.3%. The business is expected to report its next quarterly earnings results on Wednesday, October 30th.

According to Zacks, analysts expect that Clorox will report full year sales of $6.30 billion for the current fiscal year, with estimates ranging from $6.27 billion to $6.39 billion. For the next fiscal year, analysts anticipate that the company will post sales of $6.49 billion, with estimates ranging from $6.42 billion to $6.62 billion. Zacks Investment Research’s sales averages are an average based on a survey of research firms that that provide coverage for Clorox.

Clorox (NYSE:CLX) last released its quarterly earnings results on Thursday, August 1st. The company reported $1.88 earnings per share for the quarter, topping the consensus estimate of $1.84 by $0.04. Clorox had a net margin of 13.20% and a return on equity of 118.88%. The business had revenue of $1.63 billion for the quarter, compared to analysts’ expectations of $1.69 billion. During the same period in the previous year, the company earned $1.66 earnings per share. The firm’s revenue for the quarter was down 3.8% compared to the same quarter last year.

Several research firms recently weighed in on CLX. Morgan Stanley boosted their price target on shares of Clorox from $141.00 to $144.00 and gave the stock an “underweight” rating in a report on Friday, August 2nd. Wells Fargo & Co restated a “hold” rating and set a $153.00 price target on shares of Clorox in a report on Thursday, August 1st. Deutsche Bank upgraded shares of Clorox from a “sell” rating to a “hold” rating and set a $139.00 target price on the stock in a research note on Thursday, May 2nd. Zacks Investment Research upgraded shares of Clorox from a “sell” rating to a “hold” rating and set a $175.00 target price on the stock in a research note on Monday, July 29th. Finally, Argus cut shares of Clorox from a “buy” rating to a “hold” rating in a research note on Monday, May 20th. Three research analysts have rated the stock with a sell rating, ten have given a hold rating and two have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $154.07.

Clorox stock traded up $0.60 during midday trading on Friday, hitting $161.50. 7,765 shares of the stock were exchanged, compared to its average volume of 1,081,260. Clorox has a 52-week low of $141.53 and a 52-week high of $167.70. The stock has a market capitalization of $20.50 billion, a price-to-earnings ratio of 25.54, a price-to-earnings-growth ratio of 5.00 and a beta of 0.37. The business’s 50-day moving average price is $158.74 and its 200-day moving average price is $155.63. The company has a quick ratio of 0.55, a current ratio of 0.91 and a debt-to-equity ratio of 4.09.

The company also recently announced a quarterly dividend, which was paid on Friday, August 16th. Investors of record on Wednesday, July 31st were issued a dividend of $1.06 per share. This represents a $4.24 dividend on an annualized basis and a yield of 2.63%. The ex-dividend date of this dividend was Tuesday, July 30th. This is a positive change from Clorox’s previous quarterly dividend of $0.96. Clorox’s dividend payout ratio is 67.09%.

In other news, SVP Diego J. Barral sold 1,987 shares of the stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $157.59, for a total value of $313,131.33. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director A D. David Mackay sold 3,400 shares of the stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $154.87, for a total transaction of $526,558.00. The disclosure for this sale can be found here. Insiders have sold a total of 25,786 shares of company stock worth $4,054,776 in the last ninety days. 1.40% of the stock is currently owned by insiders.

Several large investors have recently modified their holdings of CLX. Griffin Asset Management Inc. bought a new position in Clorox in the 2nd quarter worth $139,000. Kayne Anderson Rudnick Investment Management LLC raised its holdings in Clorox by 0.3% in the 2nd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 34,816 shares of the company’s stock worth $5,331,000 after purchasing an additional 88 shares in the last quarter. Maverick Capital Ltd. bought a new position in Clorox in the 2nd quarter worth $1,643,000. Cypress Capital Group increased its stake in shares of Clorox by 1.8% in the 2nd quarter. Cypress Capital Group now owns 4,312 shares of the company’s stock worth $660,000 after acquiring an additional 75 shares in the last quarter. Finally, HM Payson & Co. bought a new position in shares of Clorox in the 2nd quarter worth about $306,000. 75.88% of the stock is currently owned by hedge funds and other institutional investors.

About Clorox

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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