Clorox (NYSE:CLX) Posts Quarterly Earnings Results, Beats Expectations By $0.04 EPS

Clorox (NYSE:CLX) posted its quarterly earnings results on Thursday. The company reported $1.88 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.84 by $0.04, Morningstar.com reports. The business had revenue of $1.63 billion for the quarter, compared to analyst estimates of $1.69 billion. Clorox had a net margin of 13.20% and a return on equity of 118.88%. The firm’s revenue for the quarter was down 3.8% on a year-over-year basis. During the same quarter last year, the business posted $1.66 EPS. Clorox updated its FY 2019 guidance to $6.30-6.50 EPS and its FY20 guidance to 6.30-6.50 EPS.

Shares of CLX stock traded up $0.76 during trading hours on Friday, hitting $156.90. 1,321,361 shares of the company’s stock traded hands, compared to its average volume of 971,180. The firm has a 50 day moving average price of $157.77. The stock has a market cap of $19.89 billion, a PE ratio of 24.83, a PEG ratio of 4.57 and a beta of 0.36. Clorox has a 12 month low of $139.26 and a 12 month high of $167.70. The company has a current ratio of 0.91, a quick ratio of 0.66 and a debt-to-equity ratio of 4.09.

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 16th. Stockholders of record on Wednesday, July 31st will be paid a dividend of $1.06 per share. The ex-dividend date is Tuesday, July 30th. This represents a $4.24 annualized dividend and a dividend yield of 2.70%. This is an increase from Clorox’s previous quarterly dividend of $0.96. Clorox’s dividend payout ratio (DPR) is presently 67.09%.

CLX has been the subject of several research reports. JPMorgan Chase & Co. downgraded shares of Clorox from a “neutral” rating to an “underweight” rating and dropped their price objective for the company from $159.00 to $139.00 in a research note on Monday, April 8th. Zacks Investment Research raised shares of Clorox from a “sell” rating to a “hold” rating and set a $175.00 price objective for the company in a research note on Monday, July 29th. Argus downgraded shares of Clorox from a “buy” rating to a “hold” rating in a research note on Monday, May 20th. Royal Bank of Canada increased their price objective on shares of Clorox to $161.00 and gave the company a “sector perform” rating in a research note on Friday. Finally, Morgan Stanley increased their price objective on shares of Clorox from $141.00 to $144.00 and gave the company an “underweight” rating in a research note on Friday. Three equities research analysts have rated the stock with a sell rating, ten have given a hold rating and two have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $154.07.

In other news, SVP Denise Garner sold 20,399 shares of the firm’s stock in a transaction on Friday, June 7th. The shares were sold at an average price of $157.61, for a total transaction of $3,215,086.39. Following the completion of the transaction, the senior vice president now owns 4,896 shares of the company’s stock, valued at $771,658.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.40% of the stock is currently owned by company insiders.

Several hedge funds have recently added to or reduced their stakes in the company. BNP PARIBAS ASSET MANAGEMENT Holding S.A. raised its stake in shares of Clorox by 50.7% during the second quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 199,275 shares of the company’s stock valued at $30,511,000 after acquiring an additional 67,042 shares during the last quarter. Rudd International Inc. bought a new position in shares of Clorox during the second quarter valued at $3,416,000. F3Logic LLC raised its stake in shares of Clorox by 15.1% during the second quarter. F3Logic LLC now owns 14,347 shares of the company’s stock valued at $2,204,000 after acquiring an additional 1,887 shares during the last quarter. GHP Investment Advisors Inc. raised its stake in shares of Clorox by 1.3% during the second quarter. GHP Investment Advisors Inc. now owns 18,709 shares of the company’s stock valued at $2,864,000 after acquiring an additional 238 shares during the last quarter. Finally, Holderness Investments Co. raised its stake in shares of Clorox by 7.5% during the second quarter. Holderness Investments Co. now owns 2,932 shares of the company’s stock valued at $449,000 after acquiring an additional 205 shares during the last quarter. 76.92% of the stock is owned by hedge funds and other institutional investors.

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.

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Earnings History for Clorox (NYSE:CLX)

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