Wall Street brokerages forecast that Clorox Company (The) (NYSE:CLX) will announce $1.48 billion in sales for the current quarter, Zacks reports. Six analysts have made estimates for Clorox Company (The)’s earnings, with estimates ranging from $1.46 billion to $1.49 billion. Clorox Company (The) posted sales of $1.44 billion in the same quarter last year, which suggests a positive year over year growth rate of 2.8%. The firm is scheduled to announce its next quarterly earnings report before the market opens on Wednesday, November 1st.

On average, analysts expect that Clorox Company (The) will report full year sales of $1.48 billion for the current financial year, with estimates ranging from $6.11 billion to $6.20 billion. For the next fiscal year, analysts forecast that the firm will report sales of $6.36 billion per share, with estimates ranging from $6.30 billion to $6.41 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of research analysts that follow Clorox Company (The).

Clorox Company (The) (NYSE:CLX) last announced its quarterly earnings data on Thursday, August 3rd. The company reported $1.53 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.49 by $0.04. Clorox Company (The) had a net margin of 11.74% and a return on equity of 190.67%. The firm had revenue of $1.65 billion for the quarter, compared to the consensus estimate of $1.65 billion. During the same period in the prior year, the company posted $1.30 earnings per share. The business’s revenue for the quarter was up 2.9% on a year-over-year basis.

Several brokerages have recently weighed in on CLX. BMO Capital Markets reiterated an “outperform” rating on shares of Clorox Company (The) in a research report on Tuesday, September 12th. BidaskClub downgraded shares of Clorox Company (The) from a “hold” rating to a “sell” rating in a report on Wednesday, July 5th. Deutsche Bank AG restated a “hold” rating and issued a $137.00 price objective (up from $126.00) on shares of Clorox Company (The) in a research report on Saturday, July 22nd. Royal Bank Of Canada restated a “hold” rating and issued a $115.00 price objective on shares of Clorox Company (The) in a research report on Friday, June 30th. Finally, Zacks Investment Research raised shares of Clorox Company (The) from a “hold” rating to a “buy” rating and set a $149.00 price objective for the company in a research note on Tuesday, July 4th. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating and two have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $127.81.

In related news, COO Dawn C. Willoughby sold 2,158 shares of the company’s stock in a transaction on Tuesday, August 29th. The shares were sold at an average price of $138.00, for a total value of $297,804.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP James E. Foster sold 9,861 shares of the company’s stock in a transaction on Wednesday, August 23rd. The stock was sold at an average price of $138.51, for a total transaction of $1,365,847.11. Following the completion of the transaction, the executive vice president now owns 22,069 shares of the company’s stock, valued at $3,056,777.19. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 21,242 shares of company stock worth $2,944,449. Corporate insiders own 1.00% of the company’s stock.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Jacobi Capital Management LLC lifted its stake in Clorox Company (The) by 0.3% during the first quarter. Jacobi Capital Management LLC now owns 1,282 shares of the company’s stock worth $172,000 after purchasing an additional 4 shares during the last quarter. Bridgeworth LLC boosted its holdings in shares of Clorox Company (The) by 0.3% in the 1st quarter. Bridgeworth LLC now owns 1,869 shares of the company’s stock worth $252,000 after purchasing an additional 5 shares in the last quarter. Valley National Advisers Inc. boosted its holdings in shares of Clorox Company (The) by 0.6% in the 1st quarter. Valley National Advisers Inc. now owns 860 shares of the company’s stock worth $116,000 after purchasing an additional 5 shares in the last quarter. Blue Chip Partners Inc. boosted its holdings in shares of Clorox Company (The) by 0.7% in the 1st quarter. Blue Chip Partners Inc. now owns 906 shares of the company’s stock worth $122,000 after purchasing an additional 6 shares in the last quarter. Finally, Bernzott Capital Advisors boosted its holdings in shares of Clorox Company (The) by 0.4% in the 2nd quarter. Bernzott Capital Advisors now owns 1,607 shares of the company’s stock worth $214,000 after purchasing an additional 7 shares in the last quarter. Institutional investors and hedge funds own 71.33% of the company’s stock.

TRADEMARK VIOLATION NOTICE: “Zacks: Brokerages Anticipate Clorox Company (The) (CLX) Will Post Quarterly Sales of $1.48 Billion” was originally posted by Watch List News and is the property of of Watch List News. If you are reading this report on another website, it was copied illegally and republished in violation of U.S. & international copyright & trademark legislation. The legal version of this report can be read at https://www.watchlistnews.com/zacks-brokerages-anticipate-clorox-company-the-clx-will-post-quarterly-sales-of-1-48-billion/1602434.html.

Clorox Company (NYSE CLX) opened at 131.91 on Monday. The firm has a market capitalization of $17.03 billion, a PE ratio of 24.73 and a beta of 0.40. Clorox Company has a 12 month low of $111.24 and a 12 month high of $141.76. The stock has a 50 day moving average of $136.15 and a 200 day moving average of $135.22.

The business also recently declared a quarterly dividend, which will be paid on Monday, November 13th. Stockholders of record on Wednesday, October 25th will be issued a $0.84 dividend. This represents a $3.36 dividend on an annualized basis and a dividend yield of 2.55%. The ex-dividend date is Tuesday, October 24th. Clorox Company (The)’s payout ratio is 63.04%.

About Clorox Company (The)

The Clorox Company is a manufacturer and marketer of consumer and professional products. The Company sells its products primarily through mass retail outlets, e-commerce channels, wholesale distributors and medical supply distributors. The Company operates through four segments: Cleaning, Household, Lifestyle and International.

Get a free copy of the Zacks research report on Clorox Company (The) (CLX)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for Clorox Company (The) (NYSE:CLX)

Receive News & Ratings for Clorox Company (The) Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Clorox Company (The) and related companies with Analyst Ratings Network's FREE daily email newsletter.