The Clorox Company (NYSE:CLX) Plans Quarterly Dividend of $1.24

The Clorox Company (NYSE:CLX) declared a quarterly dividend on Tuesday, February 24th. Shareholders of record on Wednesday, April 22nd will be given a dividend of 1.24 per share on Friday, May 8th. This represents a c) dividend on an annualized basis and a yield of 3.9%. The ex-dividend date is Wednesday, April 22nd.

Clorox has raised its dividend payment by an average of 0.0%annually over the last three years and has raised its dividend annually for the last 47 consecutive years. Clorox has a payout ratio of 72.7% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Clorox to earn $7.12 per share next year, which means the company should continue to be able to cover its $4.96 annual dividend with an expected future payout ratio of 69.7%.

Clorox Trading Down 0.4%

Shares of CLX traded down $0.56 during midday trading on Wednesday, hitting $126.09. 1,145,428 shares of the stock were exchanged, compared to its average volume of 2,265,322. Clorox has a 52-week low of $96.66 and a 52-week high of $158.91. The company has a debt-to-equity ratio of 71.03, a quick ratio of 0.48 and a current ratio of 0.74. The stock has a fifty day simple moving average of $110.79 and a 200 day simple moving average of $113.53. The firm has a market cap of $15.25 billion, a P/E ratio of 20.61, a P/E/G ratio of 0.62 and a beta of 0.59.

Clorox (NYSE:CLX) last posted its earnings results on Tuesday, February 3rd. The company reported $1.39 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.43 by ($0.04). The firm had revenue of $1.67 billion for the quarter, compared to analyst estimates of $1.64 billion. Clorox had a return on equity of 383.01% and a net margin of 11.17%.Clorox’s revenue was down .8% on a year-over-year basis. During the same period in the previous year, the company posted $1.55 EPS. On average, research analysts anticipate that Clorox will post 7.15 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on CLX shares. Citigroup lifted their price objective on shares of Clorox from $109.00 to $115.00 and gave the company a “neutral” rating in a report on Wednesday, February 4th. BNP Paribas Exane upgraded shares of Clorox from an “underperform” rating to a “neutral” rating in a research note on Wednesday, February 11th. TD Cowen increased their price objective on Clorox from $108.00 to $111.00 and gave the company a “hold” rating in a research note on Wednesday, February 4th. Wells Fargo & Company set a $125.00 target price on Clorox in a report on Tuesday, February 17th. Finally, UBS Group increased their price target on Clorox from $115.00 to $121.00 and gave the company a “neutral” rating in a research report on Wednesday, February 4th. One investment analyst has rated the stock with a Buy rating, eleven have issued a Hold rating and four have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Reduce” and a consensus target price of $118.73.

Clorox Company Profile

The Clorox Company is a leading manufacturer and marketer of consumer and professional products designed to help people care for their homes and live healthy, sustainable lives. Its portfolio spans cleaning and household products, food and beverages, water filtration systems and cat litter, serving both retail and institutional customers. The company’s flagship bleach and disinfecting products are well known in the United States and many international markets, where they help prevent the spread of germs in homes, hospitals, schools and businesses.

Clorox’s diverse brand lineup includes liquid bleach and surface cleaners, eco-friendly cleaning tools, food preservation and preparation items, charcoal grills and briquettes, specialty foods and beverages, pet care products and personal care lines.