The Clorox Company (NYSE:CLX) to Post FY2023 Earnings of $5.66 Per Share, DA Davidson Forecasts

The Clorox Company (NYSE:CLXGet Rating) – Analysts at DA Davidson dropped their FY2023 earnings estimates for Clorox in a research report issued on Wednesday, May 4th. DA Davidson analyst L. Weiser now anticipates that the company will post earnings per share of $5.66 for the year, down from their previous estimate of $6.43.

Clorox (NYSE:CLXGet Rating) last announced its quarterly earnings results on Monday, May 2nd. The company reported $1.31 EPS for the quarter, beating the consensus estimate of $0.97 by $0.34. Clorox had a return on equity of 92.98% and a net margin of 6.44%. During the same period in the previous year, the business posted $1.62 earnings per share.

Several other research firms have also recently issued reports on CLX. Sanford C. Bernstein cut Clorox from a “market perform” rating to an “underperform” rating and decreased their price target for the company from $206.00 to $155.00 in a report on Wednesday, February 2nd. Atlantic Securities lowered Clorox from a “neutral” rating to an “underweight” rating and set a $118.00 target price on the stock. in a research report on Friday, February 4th. Zacks Investment Research downgraded Clorox from a “hold” rating to a “strong sell” rating and set a $124.00 price target for the company. in a research note on Tuesday, February 8th. StockNews.com initiated coverage on Clorox in a research note on Thursday, March 31st. They issued a “hold” rating for the company. Finally, Deutsche Bank Aktiengesellschaft reduced their price target on Clorox from $148.00 to $146.00 in a research note on Monday, April 18th. Ten analysts have rated the stock with a sell rating, five have assigned a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat, Clorox currently has an average rating of “Sell” and a consensus price target of $145.67.

Clorox stock traded up $0.35 during mid-day trading on Friday, hitting $148.62. 5,835 shares of the company were exchanged, compared to its average volume of 1,333,241. The company has a quick ratio of 0.36, a current ratio of 0.71 and a debt-to-equity ratio of 3.28. The business has a fifty day moving average of $141.88 and a 200 day moving average of $157.47. Clorox has a 1-year low of $127.02 and a 1-year high of $191.75. The company has a market capitalization of $18.26 billion, a PE ratio of 40.18, a price-to-earnings-growth ratio of 5.06 and a beta of 0.18.

Several hedge funds have recently modified their holdings of the company. Xponance Inc. grew its position in Clorox by 9.5% in the fourth quarter. Xponance Inc. now owns 18,036 shares of the company’s stock worth $3,145,000 after acquiring an additional 1,568 shares during the period. Wealthfront Advisers LLC grew its holdings in shares of Clorox by 18.3% during the fourth quarter. Wealthfront Advisers LLC now owns 24,226 shares of the company’s stock worth $4,224,000 after purchasing an additional 3,752 shares during the last quarter. Gofen & Glossberg LLC IL grew its holdings in shares of Clorox by 19.9% during the fourth quarter. Gofen & Glossberg LLC IL now owns 5,885 shares of the company’s stock worth $1,026,000 after buying an additional 977 shares during the last quarter. DNB Asset Management AS grew its holdings in shares of Clorox by 3.8% during the fourth quarter. DNB Asset Management AS now owns 49,549 shares of the company’s stock worth $8,639,000 after buying an additional 1,819 shares during the last quarter. Finally, Pendal Group Ltd lifted its position in Clorox by 259.2% in the fourth quarter. Pendal Group Ltd now owns 4,641 shares of the company’s stock valued at $809,000 after purchasing an additional 3,349 shares during the period. 77.28% of the stock is owned by institutional investors and hedge funds.

The business also recently declared a quarterly dividend, which will be paid on Friday, May 13th. Stockholders of record on Wednesday, April 27th will be issued a $1.16 dividend. The ex-dividend date is Tuesday, April 26th. This represents a $4.64 dividend on an annualized basis and a dividend yield of 3.12%. Clorox’s dividend payout ratio is presently 125.75%.

About Clorox (Get Rating)

The Clorox Company manufactures and markets consumer and professional products worldwide. It operates through four segments: Health and Wellness, Household, Lifestyle, and International. The Health and Wellness segment offers cleaning products, such as laundry additives and home care products primarily under the Clorox, Clorox2, Scentiva, Pine-Sol, Liquid-Plumr, Tilex, and Formula 409 brand names; professional cleaning and disinfecting products under the CloroxPro, Clorox Healthcare, and Clorox Total 360 brand names; professional food service products under the Hidden Valley brand name; and vitamins, minerals and supplement products under the RenewLife, Natural Vitality, NeoCell, and Rainbow Light brand names in the United States.

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Earnings History and Estimates for Clorox (NYSE:CLX)

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