$1.72 Billion in Sales Expected for The Clorox Company (NYSE:CLX) This Quarter

Posted by Adam Masters on Jan 2nd, 2021 // Comments off

Brokerages expect The Clorox Company (NYSE:CLX) to post sales of $1.72 billion for the current quarter, according to Zacks. Three analysts have issued estimates for The Clorox’s earnings. The lowest sales estimate is $1.71 billion and the highest is $1.74 billion. The Clorox posted sales of $1.45 billion in the same quarter last year, which would indicate a positive year-over-year growth rate of 18.6%. The company is scheduled to issue its next earnings report on Tuesday, February 2nd.

According to Zacks, analysts expect that The Clorox will report full-year sales of $7.33 billion for the current financial year, with estimates ranging from $7.27 billion to $7.39 billion. For the next fiscal year, analysts expect that the firm will post sales of $7.43 billion, with estimates ranging from $7.09 billion to $7.64 billion. Zacks Investment Research’s sales calculations are an average based on a survey of analysts that cover The Clorox.

The Clorox (NYSE:CLX) last issued its quarterly earnings results on Saturday, November 7th. The company reported $3.22 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $2.32 by $0.90. The Clorox had a return on equity of 132.72% and a net margin of 16.14%. The firm had revenue of $1.92 billion during the quarter, compared to analyst estimates of $1.74 billion. During the same quarter in the previous year, the company posted $1.59 earnings per share. The company’s revenue was up 27.2% compared to the same quarter last year.

Several equities research analysts recently weighed in on CLX shares. JPMorgan Chase & Co. cut The Clorox from an “overweight” rating to a “neutral” rating and set a $235.00 target price for the company. in a report on Friday, October 16th. They noted that the move was a valuation call. DA Davidson increased their target price on The Clorox from $263.00 to $268.00 and gave the company a “buy” rating in a report on Tuesday, November 3rd. Wells Fargo & Company started coverage on The Clorox in a report on Monday, December 7th. They set an “overweight” rating and a $250.00 target price for the company. Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell upgraded The Clorox from a “neutral” rating to a “buy” rating and increased their target price for the company from $238.00 to $249.00 in a report on Sunday, December 13th. Finally, ValuEngine cut The Clorox from a “hold” rating to a “sell” rating in a report on Tuesday, November 10th. Four equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and five have assigned a buy rating to the stock. The Clorox presently has a consensus rating of “Hold” and an average target price of $220.53.

Shares of CLX stock opened at $201.92 on Friday. The stock has a market capitalization of $25.45 billion, a PE ratio of 22.49, a P/E/G ratio of 4.32 and a beta of 0.21. The Clorox has a 1-year low of $150.95 and a 1-year high of $239.87. The business has a 50-day moving average of $202.87 and a 200 day moving average of $214.77. The company has a debt-to-equity ratio of 2.12, a current ratio of 1.41 and a quick ratio of 1.06.

The company also recently announced a quarterly dividend, which will be paid on Friday, February 12th. Stockholders of record on Wednesday, January 27th will be paid a $1.11 dividend. This represents a $4.44 dividend on an annualized basis and a dividend yield of 2.20%. The ex-dividend date is Tuesday, January 26th. The Clorox’s payout ratio is presently 60.33%.

In related news, EVP Laura Stein sold 19,430 shares of the firm’s stock in a transaction that occurred on Thursday, November 5th. The stock was sold at an average price of $215.46, for a total transaction of $4,186,387.80. Following the completion of the transaction, the executive vice president now owns 59,755 shares of the company’s stock, valued at approximately $12,874,812.30. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, SVP Diego J. Barral sold 9,916 shares of the firm’s stock in a transaction that occurred on Wednesday, December 9th. The shares were sold at an average price of $200.19, for a total value of $1,985,084.04. Following the transaction, the senior vice president now directly owns 9,651 shares of the company’s stock, valued at approximately $1,932,033.69. The disclosure for this sale can be found here. In the last 90 days, insiders sold 473,319 shares of company stock valued at $95,666,491. 1.09% of the stock is currently owned by company insiders.

A number of hedge funds have recently bought and sold shares of the stock. Wetherby Asset Management Inc. increased its position in The Clorox by 1.5% during the 3rd quarter. Wetherby Asset Management Inc. now owns 4,653 shares of the company’s stock valued at $978,000 after buying an additional 70 shares in the last quarter. Mercer Global Advisors Inc. ADV increased its holdings in shares of The Clorox by 253.9% in the 3rd quarter. Mercer Global Advisors Inc. ADV now owns 25,614 shares of the company’s stock worth $5,553,000 after purchasing an additional 18,377 shares in the last quarter. Sei Investments Co. increased its holdings in shares of The Clorox by 25.3% in the 3rd quarter. Sei Investments Co. now owns 75,293 shares of the company’s stock worth $15,790,000 after purchasing an additional 15,223 shares in the last quarter. Platform Technology Partners bought a new stake in shares of The Clorox in the 3rd quarter worth $748,000. Finally, Kathmere Capital Management LLC bought a new stake in shares of The Clorox in the 3rd quarter worth $84,000. 75.81% of the stock is owned by institutional investors.

About The 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 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, Scentiva, Formula 409, Liquid-Plumr, Pine-Sol, S.O.S, and Tilex brands; naturally derived products under the Green Works brand; professional cleaning, disinfecting, and food service products under the CloroxPro, Clorox Healthcare, and Clorox Total 360 brands; professional food service products under the Hidden Valley brand; and vitamins, minerals, and supplement products under the RenewLife, Rainbow Light, Natural Vitality, NeoCell, and Stop Aging Now brands.

$1.72 Billion in Sales Expected for The Clorox Company (NYSE:CLX) This Quarter

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