Clorox (NYSE:CLX) Releases FY24 Earnings Guidance

Clorox (NYSE:CLX) issued an update on its FY24 earnings guidance on Tuesday morning. The company provided earnings per share (EPS) guidance of $5.80-5.95 for the period, compared to the consensus estimate of $5.55. The company issued revenue guidance of down low single digits, compared to the consensus revenue estimate of $7.22 billion.

Clorox Stock Down 0.7 %

Shares of NYSE:CLX traded down $1.05 during trading on Tuesday, reaching $147.87. The stock had a trading volume of 1,673,827 shares, compared to its average volume of 1,216,206. The company has a current ratio of 0.89, a quick ratio of 0.57 and a debt-to-equity ratio of 11.37. The company has a market capitalization of $18.35 billion, a P/E ratio of 236.38, a PEG ratio of 2.32 and a beta of 0.43. The firm’s 50-day simple moving average is $149.35 and its 200 day simple moving average is $142.95. Clorox has a one year low of $114.68 and a one year high of $178.21.

Clorox (NYSE:CLX) last released its quarterly earnings results on Thursday, February 1st. The company reported $2.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.08 by $1.08. The business had revenue of $1.99 billion for the quarter, compared to analyst estimates of $1.80 billion. Clorox had a net margin of 1.09% and a return on equity of 319.41%. The business’s revenue for the quarter was up 16.0% on a year-over-year basis. During the same period in the previous year, the company earned $0.98 earnings per share. As a group, research analysts expect that Clorox will post 5.52 EPS for the current fiscal year.

Clorox Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 10th. Stockholders of record on Wednesday, April 24th will be paid a dividend of $1.20 per share. The ex-dividend date is Tuesday, April 23rd. This represents a $4.80 annualized dividend and a dividend yield of 3.25%. Clorox’s payout ratio is currently 761.92%.

Analyst Upgrades and Downgrades

CLX has been the subject of a number of research analyst reports. Deutsche Bank Aktiengesellschaft reduced their target price on Clorox from $155.00 to $151.00 and set a hold rating for the company in a research note on Wednesday, April 17th. Morgan Stanley reiterated an equal weight rating and issued a $160.00 price objective on shares of Clorox in a research note on Tuesday, March 26th. Jefferies Financial Group upgraded shares of Clorox from an underperform rating to a hold rating and set a $145.00 target price for the company in a research report on Tuesday, March 26th. The Goldman Sachs Group assumed coverage on Clorox in a research report on Friday, March 1st. They set a sell rating and a $140.00 price target on the stock. Finally, Barclays decreased their price objective on Clorox from $148.00 to $136.00 and set an underweight rating for the company in a report on Wednesday, April 10th. Four equities research analysts have rated the stock with a sell rating and thirteen have issued a hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of Hold and a consensus price target of $148.63.

About 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 Health and Wellness segment offers cleaning products, such as laundry additives and home care products primarily under the Clorox, Clorox2, Scentiva, Pine-Sol, Liquid-Plumr, Tilex, and Formula 409 brands; professional cleaning and disinfecting products under the CloroxPro and Clorox Healthcare brands; professional food service products under the Hidden Valley brand; and vitamins, minerals and supplement products under the RenewLife, Natural Vitality, NeoCell, and Rainbow Light brands in the United States.