Brokers Set Expectations for The Clorox Company’s FY2024 Earnings (NYSE:CLX)

The Clorox Company (NYSE:CLX) – Equities researchers at DA Davidson issued their FY2024 earnings per share (EPS) estimates for shares of Clorox in a research note issued to investors on Wednesday, May 1st. DA Davidson analyst L. Weiser forecasts that the company will post earnings of $5.25 per share for the year. DA Davidson currently has a “Neutral” rating and a $162.00 target price on the stock. The consensus estimate for Clorox’s current full-year earnings is $5.85 per share.

Clorox (NYSE:CLX) last issued its quarterly earnings data on Tuesday, April 30th. The company reported $1.71 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.33 by $0.38. The firm had revenue of $1.81 billion during the quarter, compared to the consensus estimate of $1.87 billion. Clorox had a return on equity of 302.49% and a net margin of 3.33%. The company’s quarterly revenue was down 5.3% on a year-over-year basis. During the same period last year, the company earned $1.51 EPS.

CLX has been the subject of several other reports. Citigroup dropped their target price on Clorox from $155.00 to $150.00 and set a “neutral” rating for the company in a research report on Wednesday. Barclays dropped their target price on Clorox from $136.00 to $132.00 and set an “underweight” rating for the company in a research report on Thursday. Jefferies Financial Group raised Clorox from an “underperform” rating to a “hold” rating and set a $145.00 target price for the company in a research report on Tuesday, March 26th. The Goldman Sachs Group started coverage on Clorox in a research report on Friday, March 1st. They set a “sell” rating and a $140.00 price objective for the company. Finally, Deutsche Bank Aktiengesellschaft lowered their price objective on Clorox from $155.00 to $151.00 and set a “hold” rating for the company in a research report on Wednesday, April 17th. Four equities research analysts have rated the stock with a sell rating and thirteen have given a hold rating to the stock. According to MarketBeat.com, Clorox currently has a consensus rating of “Hold” and a consensus price target of $149.13.

Clorox Trading Down 0.3 %

NYSE CLX traded down $0.46 during trading on Friday, hitting $139.21. The stock had a trading volume of 100,160 shares, compared to its average volume of 1,251,167. The company has a market capitalization of $17.29 billion, a PE ratio of 72.37, a PEG ratio of 2.08 and a beta of 0.44. The company has a quick ratio of 0.57, a current ratio of 0.90 and a debt-to-equity ratio of 9.73. The firm has a 50 day moving average price of $148.74 and a 200 day moving average price of $143.08. Clorox has a twelve month low of $114.68 and a twelve month high of $176.24.

Clorox Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 10th. Stockholders of record on Wednesday, April 24th will be paid a $1.20 dividend. This represents a $4.80 annualized dividend and a dividend yield of 3.45%. The ex-dividend date of this dividend is Tuesday, April 23rd. Clorox’s dividend payout ratio is currently 248.71%.

Institutional Investors Weigh In On Clorox

Several hedge funds have recently modified their holdings of the stock. CIBC Private Wealth Group LLC raised its holdings in shares of Clorox by 0.5% during the 4th quarter. CIBC Private Wealth Group LLC now owns 13,900 shares of the company’s stock valued at $1,982,000 after buying an additional 66 shares during the period. Lindbrook Capital LLC increased its holdings in shares of Clorox by 6.2% in the 1st quarter. Lindbrook Capital LLC now owns 1,182 shares of the company’s stock valued at $181,000 after acquiring an additional 69 shares during the last quarter. First National Bank of Mount Dora Trust Investment Services boosted its position in Clorox by 3.2% during the 4th quarter. First National Bank of Mount Dora Trust Investment Services now owns 2,257 shares of the company’s stock worth $322,000 after acquiring an additional 71 shares during the period. Modera Wealth Management LLC lifted its holdings in shares of Clorox by 1.4% in the third quarter. Modera Wealth Management LLC now owns 5,130 shares of the company’s stock valued at $672,000 after buying an additional 71 shares during the period. Finally, Czech National Bank raised its position in shares of Clorox by 0.3% during the fourth quarter. Czech National Bank now owns 21,718 shares of the company’s stock worth $3,097,000 after purchasing an additional 71 shares during the period. 78.53% 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: Health and Wellness, Household, Lifestyle, and International. The Health and Wellness segment offers cleaning products, such as laundry additives and home care products primarily under the Clorox, Clorox2, Scentiva, Pine-Sol, Liquid-Plumr, Tilex, and Formula 409 brands; professional cleaning and disinfecting products under the CloroxPro and Clorox Healthcare brands; professional food service products under the Hidden Valley brand; and vitamins, minerals and supplement products under the RenewLife, Natural Vitality, NeoCell, and Rainbow Light brands in the United States.