Clorox (NYSE:CLX) Announces Quarterly Earnings Results

Clorox (NYSE:CLX) posted its quarterly earnings data on Tuesday. The company reported $1.71 EPS for the quarter, topping the consensus estimate of $1.33 by $0.38, Briefing.com reports. Clorox had a return on equity of 319.41% and a net margin of 1.09%. The company had revenue of $1.81 billion during the quarter, compared to analyst estimates of $1.87 billion. During the same period in the previous year, the business earned $1.51 EPS. Clorox’s quarterly revenue was down 5.3% on a year-over-year basis. Clorox updated its FY24 guidance to $5.80-5.95 EPS and its FY 2024 guidance to 5.800-5.950 EPS.

Clorox Trading Down 6.0 %

Shares of CLX traded down $8.83 during midday trading on Wednesday, hitting $139.04. 2,506,646 shares of the stock were exchanged, compared to its average volume of 1,231,504. Clorox has a 52-week low of $114.68 and a 52-week high of $178.21. The stock has a fifty day simple moving average of $149.26 and a 200 day simple moving average of $143.12. The firm has a market cap of $17.26 billion, a P/E ratio of 220.21, a P/E/G ratio of 2.35 and a beta of 0.43. The company has a debt-to-equity ratio of 11.37, a quick ratio of 0.57 and a current ratio of 0.89.

Clorox Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, May 10th. Stockholders of record on Wednesday, April 24th will be given a dividend of $1.20 per share. The ex-dividend date is Tuesday, April 23rd. This represents a $4.80 annualized dividend and a dividend yield of 3.45%. Clorox’s dividend payout ratio is currently 761.92%.

Wall Street Analysts Forecast Growth

Several research firms have commented on CLX. DA Davidson reiterated a “neutral” rating and set a $162.00 price objective on shares of Clorox in a research note on Wednesday, April 17th. Barclays cut their price objective on Clorox from $148.00 to $136.00 and set an “underweight” rating for the company in a research note on Wednesday, April 10th. Jefferies Financial Group upgraded Clorox from an “underperform” rating to a “hold” rating and set a $145.00 price objective for the company in a research note on Tuesday, March 26th. UBS Group upped their price target on Clorox from $145.00 to $170.00 and gave the company a “neutral” rating in a research report on Friday, February 2nd. Finally, Deutsche Bank Aktiengesellschaft dropped their price target 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 investment analysts have rated the stock with a sell rating and thirteen have given a hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $150.38.

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.