Clorox Co (NYSE:CLX) Expected to Announce Quarterly Sales of $1.69 Billion
Wall Street brokerages expect Clorox Co (NYSE:CLX) to post sales of $1.69 billion for the current fiscal quarter, according to Zacks. Four analysts have issued estimates for Clorox’s earnings. The lowest sales estimate is $1.68 billion and the highest is $1.71 billion. Clorox also posted sales of $1.69 billion in the same quarter last year. The firm is expected to announce its next quarterly earnings results before the market opens on Thursday, August 1st.
On average, analysts expect that Clorox will report full-year sales of $6.28 billion for the current year, with estimates ranging from $6.27 billion to $6.29 billion. For the next fiscal year, analysts forecast that the firm will report sales of $6.41 billion, with estimates ranging from $6.38 billion to $6.44 billion. Zacks’ sales averages are an average based on a survey of research analysts that that provide coverage for Clorox.
Clorox (NYSE:CLX) last announced its quarterly earnings results on Wednesday, May 1st. The company reported $1.44 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.47 by ($0.03). Clorox had a net margin of 12.68% and a return on equity of 108.82%. The business had revenue of $1.55 billion during the quarter, compared to analyst estimates of $1.57 billion. During the same period last year, the company earned $1.37 EPS. The business’s revenue for the quarter was up 2.2% on a year-over-year basis.
In other Clorox news, SVP Denise Garner sold 20,399 shares of the company’s stock in a transaction dated Friday, June 7th. The stock was sold at an average price of $157.61, for a total transaction of $3,215,086.39. Following the sale, the senior vice president now owns 4,896 shares in the company, valued at approximately $771,658.56. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 1.40% of the stock is owned by corporate insiders.
A number of hedge funds and other institutional investors have recently modified their holdings of CLX. Norges Bank purchased a new stake in Clorox during the 4th quarter worth about $175,485,000. Janus Henderson Group PLC increased its holdings in Clorox by 28.4% during the 1st quarter. Janus Henderson Group PLC now owns 1,771,185 shares of the company’s stock worth $284,204,000 after purchasing an additional 391,569 shares during the period. Geode Capital Management LLC increased its holdings in Clorox by 21.5% during the 4th quarter. Geode Capital Management LLC now owns 1,899,544 shares of the company’s stock worth $292,347,000 after purchasing an additional 335,835 shares during the period. Martingale Asset Management L P increased its holdings in Clorox by 152.4% during the 1st quarter. Martingale Asset Management L P now owns 211,703 shares of the company’s stock worth $33,971,000 after purchasing an additional 127,816 shares during the period. Finally, PNC Financial Services Group Inc. increased its holdings in Clorox by 65.4% during the 1st quarter. PNC Financial Services Group Inc. now owns 299,966 shares of the company’s stock worth $48,133,000 after purchasing an additional 118,660 shares during the period. Institutional investors own 77.45% of the company’s stock.
Shares of Clorox stock traded up $2.78 during trading hours on Thursday, hitting $166.33. The company’s stock had a trading volume of 793,033 shares, compared to its average volume of 807,174. Clorox has a twelve month low of $130.00 and a twelve month high of $167.70. The company’s fifty day simple moving average is $156.89. The company has a market cap of $21.19 billion, a PE ratio of 26.57, a price-to-earnings-growth ratio of 4.87 and a beta of 0.38. The company has a debt-to-equity ratio of 2.93, a quick ratio of 0.66 and a current ratio of 1.10.
The company also recently announced a quarterly dividend, which will be paid on Friday, August 16th. Investors of record on Wednesday, July 31st will be paid a dividend of $1.06 per share. This is a positive change from Clorox’s previous quarterly dividend of $0.96. The ex-dividend date of this dividend is Tuesday, July 30th. This represents a $4.24 annualized dividend and a yield of 2.55%. Clorox’s dividend payout ratio is presently 61.34%.
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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