Clorox Co (NYSE:CLX) has been given a consensus rating of “Hold” by the fifteen ratings firms that are presently covering the firm, Marketbeat reports. Three investment analysts have rated the stock with a sell recommendation, ten have assigned a hold recommendation and two have assigned a buy recommendation to the company. The average 12-month price objective among brokers that have issued ratings on the stock in the last year is $129.53.
Several research firms have weighed in on CLX. BMO Capital Markets set a $147.00 target price on Clorox and gave the stock a “buy” rating in a research note on Thursday, March 29th. JPMorgan Chase & Co. restated a “neutral” rating and set a $138.00 target price (down from $139.00) on shares of Clorox in a research note on Tuesday, March 13th. Morgan Stanley cut their target price on Clorox from $133.00 to $128.00 and set an “equal weight” rating for the company in a research note on Thursday, April 5th. Zacks Investment Research cut Clorox from a “hold” rating to a “sell” rating in a research note on Monday, April 9th. Finally, Barclays set a $131.00 target price on Clorox and gave the stock a “hold” rating in a research note on Friday, April 6th.
NYSE:CLX traded up $0.96 during trading hours on Friday, reaching $128.85. 1,886,313 shares of the company were exchanged, compared to its average volume of 1,256,156. The company has a market capitalization of $16.45 billion, a P/E ratio of 24.08, a P/E/G ratio of 2.88 and a beta of 0.39. Clorox has a 1-year low of $113.57 and a 1-year high of $150.40. The company has a debt-to-equity ratio of 2.14, a current ratio of 1.18 and a quick ratio of 0.93.
Clorox (NYSE:CLX) last issued its quarterly earnings results on Wednesday, May 2nd. The company reported $1.37 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.31 by $0.06. The business had revenue of $1.52 billion for the quarter, compared to the consensus estimate of $1.51 billion. Clorox had a return on equity of 107.93% and a net margin of 13.27%. The firm’s quarterly revenue was up 2.7% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.31 earnings per share. sell-side analysts anticipate that Clorox will post 5.66 EPS for the current fiscal year.
Clorox declared that its Board of Directors has approved a share buyback plan on Thursday, May 24th that permits the company to repurchase $2.00 billion in shares. This repurchase authorization permits the company to purchase up to 12.6% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s board believes its shares are undervalued.
The company also recently declared a quarterly dividend, which will be paid on Friday, August 17th. Stockholders of record on Wednesday, August 1st will be paid a $0.96 dividend. This represents a $3.84 dividend on an annualized basis and a dividend yield of 2.98%. The ex-dividend date of this dividend is Tuesday, July 31st. Clorox’s payout ratio is 71.78%.
Several institutional investors and hedge funds have recently made changes to their positions in CLX. Quantitative Systematic Strategies LLC bought a new position in shares of Clorox in the 4th quarter valued at $284,000. Engineers Gate Manager LP bought a new position in shares of Clorox in the 4th quarter valued at $1,176,000. Victory Capital Management Inc. lifted its stake in shares of Clorox by 10.7% in the 4th quarter. Victory Capital Management Inc. now owns 25,475 shares of the company’s stock valued at $3,789,000 after acquiring an additional 2,465 shares during the last quarter. SeaCrest Wealth Management LLC bought a new position in shares of Clorox in the 4th quarter valued at $360,000. Finally, Public Employees Retirement Association of Colorado lifted its stake in shares of Clorox by 3.5% in the 4th quarter. Public Employees Retirement Association of Colorado now owns 24,081 shares of the company’s stock valued at $3,582,000 after acquiring an additional 823 shares during the last quarter. Institutional investors own 76.15% of the company’s stock.
The Clorox Company manufactures and markets consumer and professional products worldwide. It operates through four segments: Cleaning, Household, Lifestyle, and International. The company offers laundry additives, including bleach products under the Clorox brand, as well as Clorox 2 stain fighters and color boosters; home care products primarily under the Clorox, Formula 409, Liquid-Plumr, Pine-Sol, S.O.S, and Tilex brands; naturally derived products under the Green Works brand; and professional cleaning and disinfecting products under the Clorox, Dispatch, Aplicare, HealthLink, and Clorox Healthcare brands.
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