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

The Clorox Company (NYSE:CLX) – Investment analysts at DA Davidson issued their FY2024 EPS estimates for Clorox in a report issued on Wednesday, May 1st. DA Davidson analyst L. Weiser anticipates that the company will post earnings of $5.25 per share for the year. DA Davidson has a “Neutral” rating and a $162.00 price target on the stock. The consensus estimate for Clorox’s current full-year earnings is $5.80 per share.

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

A number of other research analysts have also recently commented on the company. Morgan Stanley restated an “equal weight” rating and issued a $160.00 target price on shares of Clorox in a research note on Tuesday, March 26th. Jefferies Financial Group raised Clorox from an “underperform” rating to a “hold” rating and set a $145.00 price objective for the company in a research report on Tuesday, March 26th. UBS Group reduced their target price on shares of Clorox from $164.00 to $159.00 and set a “neutral” rating on the stock in a research report on Wednesday. The Goldman Sachs Group started coverage on shares of Clorox in a research report on Friday, March 1st. They set a “sell” rating and a $140.00 price target for the company. Finally, Citigroup cut their price objective on shares of Clorox from $155.00 to $150.00 and set a “neutral” rating on the stock in a report on Wednesday. Four research analysts have rated the stock with a sell rating and thirteen have given a hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $146.43.

Clorox Stock Performance

Clorox stock opened at $138.23 on Friday. Clorox has a fifty-two week low of $114.68 and a fifty-two week high of $176.24. The stock’s 50 day simple moving average is $148.45 and its two-hundred day simple moving average is $143.17. The company has a debt-to-equity ratio of 9.73, a quick ratio of 0.57 and a current ratio of 0.90. The stock has a market cap of $17.17 billion, a price-to-earnings ratio of 71.62, a PEG ratio of 2.18 and a beta of 0.44.

Clorox Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 10th. Investors of record on Wednesday, April 24th will be issued a $1.20 dividend. The ex-dividend date is Tuesday, April 23rd. This represents a $4.80 annualized dividend and a yield of 3.47%. Clorox’s payout ratio is 248.71%.

Hedge Funds Weigh In On Clorox

A number of hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. raised its holdings in shares of Clorox by 0.3% during the third quarter. Vanguard Group Inc. now owns 15,341,234 shares of the company’s stock valued at $2,010,622,000 after purchasing an additional 44,344 shares during the last quarter. FMR LLC grew its stake in shares of Clorox by 17.4% during the 3rd quarter. FMR LLC now owns 2,415,054 shares of the company’s stock valued at $316,517,000 after acquiring an additional 357,964 shares during the period. Stifel Financial Corp increased its holdings in Clorox by 2.2% in the 3rd quarter. Stifel Financial Corp now owns 2,184,875 shares of the company’s stock worth $286,356,000 after acquiring an additional 47,879 shares in the last quarter. Morgan Stanley raised its stake in Clorox by 1.8% during the 3rd quarter. Morgan Stanley now owns 1,738,928 shares of the company’s stock worth $227,904,000 after acquiring an additional 30,902 shares during the period. Finally, Northern Trust Corp lifted its holdings in Clorox by 2.7% during the third quarter. Northern Trust Corp now owns 1,633,624 shares of the company’s stock valued at $214,103,000 after purchasing an additional 42,352 shares in the last quarter. Hedge funds and other institutional investors own 78.53% of the company’s stock.

Clorox Company Profile

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.