$1.48 Billion in Sales Expected for Clorox Co (CLX) This Quarter
Wall Street brokerages expect Clorox Co (NYSE:CLX) to announce sales of $1.48 billion for the current quarter, Zacks reports. Five analysts have issued estimates for Clorox’s earnings, with the lowest sales estimate coming in at $1.47 billion and the highest estimate coming in at $1.49 billion. Clorox posted sales of $1.42 billion during the same quarter last year, which suggests a positive year over year growth rate of 4.2%. The business is expected to report its next earnings report on Friday, February 1st.
On average, analysts expect that Clorox will report full-year sales of $6.33 billion for the current financial year, with estimates ranging from $6.28 billion to $6.36 billion. For the next year, analysts expect that the company will post sales of $6.50 billion, with estimates ranging from $6.45 billion to $6.57 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side analysts that follow Clorox.
Clorox (NYSE:CLX) last announced its quarterly earnings results on Wednesday, October 31st. The company reported $1.62 EPS for the quarter, topping the Zacks’ consensus estimate of $1.59 by $0.03. The business had revenue of $1.56 billion for the quarter, compared to analysts’ expectations of $1.53 billion. Clorox had a return on equity of 102.65% and a net margin of 13.59%. The business’s quarterly revenue was up 4.2% on a year-over-year basis. During the same period in the previous year, the firm earned $1.46 EPS.
In related news, COO Dawn C. Willoughby sold 54,205 shares of Clorox stock in a transaction that occurred on Tuesday, November 6th. The stock was sold at an average price of $157.39, for a total transaction of $8,531,324.95. Following the sale, the chief operating officer now directly owns 37,044 shares in the company, valued at $5,830,355.16. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Linda J. Rendle sold 382 shares of Clorox stock in a transaction that occurred on Thursday, September 6th. The shares were sold at an average price of $148.32, for a total value of $56,658.24. The disclosure for this sale can be found here. Over the last quarter, insiders sold 87,088 shares of company stock worth $13,465,508. Corporate insiders own 1.40% of the company’s stock.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Parnassus Investments CA boosted its position in shares of Clorox by 1.6% during the second quarter. Parnassus Investments CA now owns 4,711,970 shares of the company’s stock valued at $637,294,000 after purchasing an additional 76,149 shares in the last quarter. Macquarie Group Ltd. boosted its position in shares of Clorox by 437,400.0% during the second quarter. Macquarie Group Ltd. now owns 1,750,000 shares of the company’s stock valued at $236,688,000 after purchasing an additional 1,749,600 shares in the last quarter. Bank of New York Mellon Corp boosted its position in shares of Clorox by 15.1% during the third quarter. Bank of New York Mellon Corp now owns 1,664,803 shares of the company’s stock valued at $250,403,000 after purchasing an additional 218,364 shares in the last quarter. Schroder Investment Management Group boosted its position in shares of Clorox by 57.0% during the second quarter. Schroder Investment Management Group now owns 1,506,358 shares of the company’s stock valued at $201,641,000 after purchasing an additional 547,070 shares in the last quarter. Finally, Morgan Stanley boosted its position in shares of Clorox by 44.2% during the second quarter. Morgan Stanley now owns 1,101,380 shares of the company’s stock valued at $148,962,000 after purchasing an additional 337,621 shares in the last quarter. Institutional investors own 77.71% of the company’s stock.
Shares of Clorox stock opened at $159.86 on Wednesday. The company has a debt-to-equity ratio of 3.38, a quick ratio of 0.65 and a current ratio of 1.07. The company has a market capitalization of $20.27 billion, a price-to-earnings ratio of 25.54, a P/E/G ratio of 3.90 and a beta of 0.28. Clorox has a one year low of $113.57 and a one year high of $162.18.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 16th. Stockholders of record on Wednesday, October 31st will be given a $0.96 dividend. The ex-dividend date of this dividend is Tuesday, October 30th. This represents a $3.84 dividend on an annualized basis and a dividend yield of 2.40%. Clorox’s dividend payout ratio is currently 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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