ValuEngine upgraded shares of Clorox (NYSE:CLX) from a sell rating to a hold rating in a research note issued to investors on Tuesday.
Several other research firms have also issued reports on CLX. Barclays set a $124.00 price target on shares of Clorox and gave the company a hold rating in a research report on Thursday, May 3rd. Morgan Stanley cut their price target on shares of Clorox from $116.00 to $113.00 and set an underweight rating for the company in a research report on Thursday, May 3rd. BMO Capital Markets cut their price target on shares of Clorox from $147.00 to $131.00 and set an outperform rating for the company in a research report on Thursday, May 3rd. Zacks Investment Research upgraded shares of Clorox from a sell rating to a hold rating in a research report on Tuesday, May 8th. Finally, Citigroup cut their price target on shares of Clorox from $139.00 to $126.00 and set a neutral rating for the company in a research report on Friday, May 4th. Two investment analysts have rated the stock with a sell rating, eleven have given a hold rating and two have assigned a buy rating to the company. Clorox has a consensus rating of Hold and an average price target of $130.98.
Shares of Clorox opened at $131.17 on Tuesday, MarketBeat reports. Clorox has a 52-week low of $113.57 and a 52-week high of $150.40. The firm has a market capitalization of $16.69 billion, a P/E ratio of 24.52, a P/E/G ratio of 2.92 and a beta of 0.39. The company has a quick ratio of 0.93, a current ratio of 1.18 and a debt-to-equity ratio of 2.14.
Clorox (NYSE:CLX) last announced its earnings results on Wednesday, May 2nd. The company reported $1.37 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.31 by $0.06. Clorox had a net margin of 13.27% and a return on equity of 107.93%. The company had revenue of $1.52 billion during the quarter, compared to analyst estimates of $1.51 billion. During the same period in the previous year, the business earned $1.31 earnings per share. The firm’s quarterly revenue was up 2.7% compared to the same quarter last year. sell-side analysts predict that Clorox will post 5.66 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 17th. Stockholders of record on Wednesday, August 1st will be paid a dividend of $0.96 per share. This represents a $3.84 annualized dividend and a dividend yield of 2.93%. The ex-dividend date is Tuesday, July 31st. Clorox’s dividend payout ratio (DPR) is 71.78%.
Clorox declared that its Board of Directors has approved a stock repurchase plan on Thursday, May 24th that permits the company to buyback $2.00 billion in shares. This buyback authorization permits the company to purchase up to 12.6% of its shares through open market purchases. Shares buyback plans are usually an indication that the company’s management believes its stock is undervalued.
Several large investors have recently modified their holdings of the company. Northern Trust Corp raised its stake in shares of Clorox by 1.2% during the first quarter. Northern Trust Corp now owns 2,615,416 shares of the company’s stock valued at $348,137,000 after acquiring an additional 31,461 shares during the last quarter. Renaissance Technologies LLC raised its stake in shares of Clorox by 15.1% during the fourth quarter. Renaissance Technologies LLC now owns 2,360,600 shares of the company’s stock valued at $351,116,000 after acquiring an additional 310,000 shares during the last quarter. Valueinvest Asset Management S.A. raised its stake in shares of Clorox by 2.1% during the first quarter. Valueinvest Asset Management S.A. now owns 1,642,800 shares of the company’s stock valued at $218,673,000 after acquiring an additional 33,300 shares during the last quarter. Geode Capital Management LLC raised its stake in shares of Clorox by 4.2% during the fourth quarter. Geode Capital Management LLC now owns 1,391,889 shares of the company’s stock valued at $206,607,000 after acquiring an additional 56,431 shares during the last quarter. Finally, Schroder Investment Management Group raised its stake in shares of Clorox by 107.7% during the first quarter. Schroder Investment Management Group now owns 959,288 shares of the company’s stock valued at $127,691,000 after acquiring an additional 497,427 shares during the last quarter. 76.22% of the stock is owned by hedge funds and other institutional investors.
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 fighters and color boosters; 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 and disinfecting products under the Clorox, Dispatch, Aplicare, HealthLink, and Clorox Healthcare brands.
To view ValuEngine’s full report, visit ValuEngine’s official website.
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