The Clorox Company Plans Quarterly Dividend of $1.24 (NYSE:CLX)

The Clorox Company (NYSE:CLX) announced a quarterly dividend on Tuesday, February 24th. Stockholders of record on Wednesday, April 22nd will be given a dividend of 1.24 per share on Friday, May 8th. This represents a c) dividend on an annualized basis and a dividend yield of 3.9%. The ex-dividend date of this dividend is Wednesday, April 22nd.

Clorox has raised its dividend by an average of 0.0%annually over the last three years and has increased its dividend every year for the last 47 years. Clorox has a payout ratio of 72.7% indicating that its dividend is sufficiently covered by earnings. Analysts expect Clorox to earn $7.12 per share next year, which means the company should continue to be able to cover its $4.96 annual dividend with an expected future payout ratio of 69.7%.

Clorox Trading Down 0.6%

Shares of Clorox stock traded down $0.70 on Wednesday, hitting $125.95. The stock had a trading volume of 932,659 shares, compared to its average volume of 2,260,676. The company has a quick ratio of 0.48, a current ratio of 0.74 and a debt-to-equity ratio of 71.03. Clorox has a one year low of $96.66 and a one year high of $158.91. The stock’s 50-day simple moving average is $110.79 and its two-hundred day simple moving average is $113.53. The stock has a market cap of $15.23 billion, a price-to-earnings ratio of 20.58, a PEG ratio of 0.62 and a beta of 0.59.

Clorox (NYSE:CLX) last announced its quarterly earnings results on Tuesday, February 3rd. The company reported $1.39 earnings per share for the quarter, missing the consensus estimate of $1.43 by ($0.04). Clorox had a net margin of 11.17% and a return on equity of 383.01%. The firm had revenue of $1.67 billion for the quarter, compared to analysts’ expectations of $1.64 billion. During the same period in the previous year, the company earned $1.55 EPS. The company’s quarterly revenue was down .8% on a year-over-year basis. As a group, sell-side analysts predict that Clorox will post 7.15 EPS for the current year.

Analyst Upgrades and Downgrades

CLX has been the topic of several recent analyst reports. Evercore cut their target price on Clorox from $132.00 to $115.00 and set an “underperform” rating on the stock in a research note on Wednesday, February 4th. Morgan Stanley lifted their price objective on Clorox from $125.00 to $136.00 and gave the stock an “equal weight” rating in a research report on Thursday, February 5th. The Goldman Sachs Group decreased their price target on shares of Clorox from $110.00 to $94.00 and set a “sell” rating for the company in a research note on Wednesday, January 7th. Barclays reiterated an “underweight” rating and issued a $109.00 price target on shares of Clorox in a research note on Friday, January 16th. Finally, UBS Group lifted their price target on Clorox from $115.00 to $121.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 4th. One investment analyst has rated the stock with a Buy rating, eleven have given a Hold rating and four have given a Sell rating to the company. According to MarketBeat.com, Clorox has a consensus rating of “Reduce” and a consensus price target of $118.73.

Clorox Company Profile

The Clorox Company is a leading manufacturer and marketer of consumer and professional products designed to help people care for their homes and live healthy, sustainable lives. Its portfolio spans cleaning and household products, food and beverages, water filtration systems and cat litter, serving both retail and institutional customers. The company’s flagship bleach and disinfecting products are well known in the United States and many international markets, where they help prevent the spread of germs in homes, hospitals, schools and businesses.

Clorox’s diverse brand lineup includes liquid bleach and surface cleaners, eco-friendly cleaning tools, food preservation and preparation items, charcoal grills and briquettes, specialty foods and beverages, pet care products and personal care lines.