Clorox (NYSE:CLX) Updates FY 2019 Earnings Guidance

Clorox (NYSE:CLX) updated its FY 2019 earnings guidance on Thursday. The company provided earnings per share guidance of $6.30-6.50 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $6.29. The company issued revenue guidance of $6.214-6.33828 billion, compared to the consensus revenue estimate of $6.27 billion.Clorox also updated its FY20 guidance to 6.30-6.50 EPS.

A number of research firms have commented on CLX. JPMorgan Chase & Co. lowered Clorox from a neutral rating to an underweight rating and lowered their price target for the company from $159.00 to $139.00 in a research report on Monday, April 8th. Morgan Stanley upped their target price on Clorox from $141.00 to $144.00 and gave the stock an underweight rating in a report on Friday. Argus downgraded Clorox from a buy rating to a hold rating in a report on Monday, May 20th. Bank of America reiterated a neutral rating and set a $154.00 target price (down previously from $165.00) on shares of Clorox in a report on Thursday, May 2nd. Finally, Royal Bank of Canada upped their target price on Clorox to $161.00 and gave the stock a sector perform rating in a report on Friday. Three analysts have rated the stock with a sell rating, ten have assigned a hold rating and two have assigned a buy rating to the stock. Clorox presently has an average rating of Hold and an average price target of $154.07.

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

Clorox (NYSE:CLX) last posted its quarterly earnings results on Thursday, August 1st. The company reported $1.88 earnings per share for the quarter, topping the consensus estimate of $1.84 by $0.04. The company had revenue of $1.63 billion for the quarter, compared to the consensus estimate of $1.69 billion. Clorox had a return on equity of 118.88% and a net margin of 13.20%. The firm’s quarterly revenue was down 3.8% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.66 EPS. As a group, research analysts forecast that Clorox will post 6.4 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Friday, August 16th. Investors of record on Wednesday, July 31st will be paid a $1.06 dividend. 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 is presently 67.09%.

In related news, SVP Denise Garner sold 20,399 shares of the company’s stock in a transaction that occurred on Friday, June 7th. The stock was sold at an average price of $157.61, for a total value 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 1.40% of the company’s stock.

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 and Estimates for Clorox (NYSE:CLX)

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