Jefferies Financial Group Comments on Clorox Co’s Q2 2019 Earnings (CLX)

Clorox Co (NYSE:CLX) – Analysts at Jefferies Financial Group decreased their Q2 2019 earnings per share (EPS) estimates for shares of Clorox in a research report issued on Wednesday, October 31st. Jefferies Financial Group analyst K. Grundy now forecasts that the company will post earnings of $1.41 per share for the quarter, down from their previous estimate of $1.47. Jefferies Financial Group also issued estimates for Clorox’s Q3 2019 earnings at $1.47 EPS, Q4 2019 earnings at $1.75 EPS and FY2021 earnings at $7.09 EPS.

Other equities research analysts have also issued research reports about the company. UBS Group assumed coverage on Clorox in a report on Wednesday, July 18th. They issued a “sell” rating and a $110.00 price objective on the stock. BMO Capital Markets reaffirmed a “buy” rating and issued a $153.00 price objective on shares of Clorox in a report on Friday, August 3rd. ValuEngine raised Clorox from a “hold” rating to a “buy” rating in a report on Saturday, September 22nd. Zacks Investment Research raised Clorox from a “hold” rating to a “buy” rating and set a $171.00 price objective on the stock in a report on Wednesday, October 3rd. Finally, Wells Fargo & Co lifted their price objective on Clorox from $135.00 to $145.00 and gave the company a “market perform” rating in a report on Wednesday, October 17th. Four equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and four have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and an average price target of $141.64.

Shares of CLX opened at $154.20 on Friday. Clorox has a twelve month low of $113.57 and a twelve month high of $155.23. The company has a market capitalization of $19.68 billion, a price-to-earnings ratio of 26.22, a price-to-earnings-growth ratio of 3.71 and a beta of 0.28. The company has a debt-to-equity ratio of 3.38, a quick ratio of 0.67 and a current ratio of 1.07.

Clorox (NYSE:CLX) last announced its quarterly earnings data on Wednesday, October 31st. The company reported $1.62 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.59 by $0.03. Clorox had a return on equity of 102.65% and a net margin of 13.59%. The company had revenue of $1.56 billion for the quarter, compared to analyst estimates of $1.53 billion. During the same quarter in the previous year, the company earned $1.46 EPS. The firm’s revenue for the quarter was up 4.2% compared to the same quarter last year.

Several large investors have recently made changes to their positions in the company. Parnassus Investments CA boosted its stake in shares of Clorox by 1.6% during the 2nd quarter. Parnassus Investments CA now owns 4,711,970 shares of the company’s stock worth $637,294,000 after acquiring an additional 76,149 shares in the last quarter. Macquarie Group Ltd. boosted its stake in shares of Clorox by 437,400.0% during the 2nd quarter. Macquarie Group Ltd. now owns 1,750,000 shares of the company’s stock worth $236,688,000 after acquiring an additional 1,749,600 shares in the last quarter. Schroder Investment Management Group boosted its stake in shares of Clorox by 57.0% during the 2nd quarter. Schroder Investment Management Group now owns 1,506,358 shares of the company’s stock worth $201,641,000 after acquiring an additional 547,070 shares in the last quarter. Morgan Stanley raised its position in shares of Clorox by 44.2% during the 2nd quarter. Morgan Stanley now owns 1,101,380 shares of the company’s stock worth $148,962,000 after purchasing an additional 337,621 shares during the last quarter. Finally, Swiss National Bank raised its position in shares of Clorox by 1.9% during the 2nd quarter. Swiss National Bank now owns 955,992 shares of the company’s stock worth $129,298,000 after purchasing an additional 17,600 shares during the last quarter. 78.38% of the stock is currently owned by institutional investors and hedge funds.

In other news, COO Dawn C. Willoughby sold 3,387 shares of the business’s stock in a transaction that occurred on Wednesday, September 5th. The stock was sold at an average price of $148.01, for a total transaction of $501,309.87. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP Michael R. Costello sold 9,265 shares of the business’s stock in a transaction that occurred on Monday, August 13th. The stock was sold at an average price of $140.02, for a total value of $1,297,285.30. Following the sale, the senior vice president now directly owns 34,293 shares in the company, valued at approximately $4,801,705.86. The disclosure for this sale can be found here. Insiders have sold a total of 29,268 shares of company stock worth $4,196,686 in the last three months. Corporate insiders own 1.40% of the company’s stock.

The company also recently declared a quarterly dividend, which will be paid on Friday, November 16th. Stockholders of record on Wednesday, October 31st will be paid a dividend of $0.96 per share. This represents a $3.84 annualized dividend and a dividend yield of 2.49%. The ex-dividend date is Tuesday, October 30th. Clorox’s dividend payout ratio (DPR) is 61.34%.

About Clorox

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.

Further Reading: Dividend

Earnings History and Estimates for Clorox (NYSE:CLX)

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