Clorox (NYSE:CLX) Posts Quarterly Earnings Results, Beats Expectations By $0.38 EPS

Clorox (NYSE:CLX) released its quarterly earnings results on Tuesday. The company reported $1.71 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.33 by $0.38, Briefing.com reports. Clorox had a return on equity of 319.41% and a net margin of 1.09%. The company had revenue of $1.81 billion during the quarter, compared to the consensus estimate of $1.87 billion. During the same quarter in the prior year, the company posted $1.51 EPS. The firm’s revenue was down 5.3% on a year-over-year basis. Clorox updated its FY24 guidance to $5.80-5.95 EPS and its FY 2024 guidance to 5.800-5.950 EPS.

Clorox Stock Performance

Clorox stock traded down $7.95 during midday trading on Wednesday, reaching $139.92. 2,356,520 shares of the company’s stock were exchanged, compared to its average volume of 1,228,228. Clorox has a 52 week low of $114.68 and a 52 week high of $178.21. The company has a debt-to-equity ratio of 11.37, a quick ratio of 0.57 and a current ratio of 0.89. The firm has a market cap of $17.37 billion, a price-to-earnings ratio of 220.21, a P/E/G ratio of 2.35 and a beta of 0.43. The stock’s 50-day simple moving average is $149.26 and its 200 day simple moving average is $143.12.

Clorox Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 10th. Investors of record on Wednesday, April 24th will be issued a dividend of $1.20 per share. This represents a $4.80 dividend on an annualized basis and a yield of 3.43%. The ex-dividend date of this dividend is Tuesday, April 23rd. Clorox’s payout ratio is currently 761.92%.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the company. JPMorgan Chase & Co. cut their price target on Clorox from $159.00 to $158.00 and set a “neutral” rating for the company in a report on Wednesday. Barclays cut their price target on Clorox from $148.00 to $136.00 and set an “underweight” rating for the company in a report on Wednesday, April 10th. The Goldman Sachs Group assumed coverage on Clorox in a report on Friday, March 1st. They issued a “sell” rating and a $140.00 price target for the company. Citigroup cut their price target on Clorox from $165.00 to $155.00 and set a “neutral” rating for the company in a report on Tuesday, April 16th. Finally, Jefferies Financial Group raised Clorox from an “underperform” rating to a “hold” rating and set a $145.00 target price for the company in a report on Tuesday, March 26th. Four equities research analysts have rated the stock with a sell rating and thirteen have given a hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $150.38.

Clorox Company Profile

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 brands; professional cleaning and disinfecting products under the CloroxPro and Clorox Healthcare brands; professional food service products under the Hidden Valley brand; and vitamins, minerals and supplement products under the RenewLife, Natural Vitality, NeoCell, and Rainbow Light brands in the United States.