$1.58 EPS Expected for Clorox Co (CLX) This Quarter
Wall Street brokerages expect Clorox Co (NYSE:CLX) to announce earnings per share of $1.58 for the current quarter, Zacks Investment Research reports. Five analysts have made estimates for Clorox’s earnings, with the highest EPS estimate coming in at $1.65 and the lowest estimate coming in at $1.53. Clorox posted earnings of $1.46 per share during the same quarter last year, which suggests a positive year-over-year growth rate of 8.2%. The firm is scheduled to issue its next earnings report on Wednesday, November 7th.
On average, analysts expect that Clorox will report full-year earnings of $6.41 per share for the current fiscal year, with EPS estimates ranging from $6.38 to $6.49. For the next financial year, analysts anticipate that the business will post earnings of $6.87 per share, with EPS estimates ranging from $6.80 to $6.94. Zacks Investment Research’s earnings per share averages are an average based on a survey of sell-side research firms that follow Clorox.
Clorox (NYSE:CLX) last released its earnings results on Thursday, August 2nd. The company reported $1.66 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.58 by $0.08. Clorox had a return on equity of 103.18% and a net margin of 13.44%. The company had revenue of $1.69 billion during the quarter, compared to analysts’ expectations of $1.72 billion. During the same period last year, the firm earned $1.53 EPS. The business’s revenue for the quarter was up 2.7% on a year-over-year basis.
Shares of Clorox stock traded up $0.76 during trading on Friday, reaching $147.53. 793,073 shares of the company were exchanged, compared to its average volume of 1,280,432. The company has a quick ratio of 0.67, a current ratio of 1.09 and a debt-to-equity ratio of 3.15. Clorox has a twelve month low of $113.57 and a twelve month high of $150.40. The stock has a market cap of $18.16 billion, a PE ratio of 23.57, a price-to-earnings-growth ratio of 2.90 and a beta of 0.36.
The firm also recently announced a quarterly dividend, which was paid on Friday, August 17th. Shareholders of record on Wednesday, August 1st were issued a dividend of $0.96 per share. The ex-dividend date was Tuesday, July 31st. This represents a $3.84 annualized dividend and a yield of 2.60%. Clorox’s dividend payout ratio is presently 61.34%.
Clorox declared that its board has authorized a stock buyback program on Thursday, May 24th that allows the company to buyback $2.00 billion in outstanding shares. This buyback authorization allows the company to purchase up to 12.6% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s management believes its stock is undervalued.
In other Clorox news, SVP Michael R. Costello sold 9,265 shares of Clorox 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 directly owns 34,293 shares in the company, valued at $4,801,705.86. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders own 1.00% of the company’s stock.
A number of hedge funds have recently bought and sold shares of the business. Parnassus Investments CA lifted its holdings in Clorox by 1.6% during the second 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. Northern Trust Corp lifted its holdings in Clorox by 1.2% during the first quarter. Northern Trust Corp now owns 2,615,416 shares of the company’s stock worth $348,137,000 after acquiring an additional 31,461 shares in the last quarter. Macquarie Group Ltd. lifted its holdings in Clorox by 437,400.0% during the second 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. Valueinvest Asset Management S.A. lifted its holdings in Clorox by 2.1% during the first quarter. Valueinvest Asset Management S.A. now owns 1,642,800 shares of the company’s stock worth $218,673,000 after acquiring an additional 33,300 shares in the last quarter. Finally, Schroder Investment Management Group lifted its holdings in Clorox by 57.0% during the second 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. Hedge funds and other institutional investors own 76.12% 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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