Clorox (CLX) Issues FY 2019 Earnings Guidance

Clorox (NYSE:CLX) issued an update on its FY 2019 earnings guidance on Wednesday morning. The company provided EPS guidance of $6.20-6.40 for the period, compared to the Thomson Reuters consensus EPS estimate of $6.41. The company issued revenue guidance of $6.246-6.369 billion, compared to the consensus revenue estimate of $6.3 billion.Clorox also updated its FY19 guidance to $6.20-6.40 EPS.

CLX opened at $153.73 on Friday. The firm has a market capitalization of $19.51 billion, a P/E ratio of 24.56, a P/E/G ratio of 3.65 and a beta of 0.36. The company has a debt-to-equity ratio of 3.15, a quick ratio of 0.67 and a current ratio of 1.09. Clorox has a 12-month low of $113.57 and a 12-month high of $155.23.

Clorox (NYSE:CLX) last posted its quarterly earnings results on Wednesday, October 31st. The company reported $1.62 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.59 by $0.03. The firm had revenue of $1.56 billion for the quarter, compared to analysts’ expectations of $1.53 billion. Clorox had a net margin of 13.44% and a return on equity of 103.18%. The firm’s quarterly revenue was up 4.2% on a year-over-year basis. During the same period in the prior year, the company posted $1.46 earnings per share. As a group, equities research analysts anticipate that Clorox will post 6.41 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 16th. Shareholders of record on Wednesday, October 31st will be paid a dividend of $0.96 per share. The ex-dividend date of this dividend is Tuesday, October 30th. This represents a $3.84 annualized dividend and a yield of 2.50%. Clorox’s payout ratio is 61.34%.

Several analysts have weighed in on the stock. Wells Fargo & Co reiterated a hold rating on shares of Clorox in a research note on Wednesday. ValuEngine upgraded shares of Clorox from a hold rating to a buy rating in a research note on Saturday, September 22nd. Deutsche Bank set a $124.00 target price on shares of Clorox and gave the company a sell rating in a research note on Thursday. Atlantic Securities assumed coverage on shares of Clorox in a research note on Thursday, September 20th. They set a neutral rating and a $151.00 target price for the company. Finally, Argus upgraded shares of Clorox from a hold rating to a buy rating and set a $175.00 target price for the company in a research note on Tuesday, September 25th. Four research analysts have rated the stock with a sell rating, eight have assigned a hold rating and four have issued a buy rating to the company’s stock. The company has a consensus rating of Hold and a consensus price target of $138.36.

In other news, EVP Linda J. Rendle sold 382 shares of the company’s stock in a transaction dated Thursday, September 6th. The shares were sold at an average price of $148.32, for a total transaction of $56,658.24. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Michael R. Costello sold 9,265 shares of the company’s stock in a transaction dated Monday, August 13th. The stock was sold at an average price of $140.02, for a total transaction of $1,297,285.30. Following the transaction, the senior vice president now owns 34,293 shares of the company’s stock, valued at approximately $4,801,705.86. The disclosure for this sale can be found here. Insiders have sold 29,268 shares of company stock valued at $4,196,686 in the last 90 days. Insiders own 1.40% of the company’s stock.

Clorox Company Profile

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 fighter and color booster; 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, disinfecting, and food service products under the Clorox, Dispatch, HealthLink, Clorox Healthcare, Hidden Valley, KC Masterpiece, and Soy Vay brands.

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Earnings History and Estimates for Clorox (NYSE:CLX)

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