Clorox (CLX) Advances While Market Declines: Some Information for Investors
Clorox (CLX) closed the latest trading day at $144.68, indicating a +0.37% change from the previous session's end. The stock outperformed the S&P 500, which registered a daily loss of 0.07%. At the same time, the Dow added 0.16%, and the tech-heavy Nasdaq lost 0.36%.
Shares of the consumer products maker have appreciated by 1.47% over the course of the past month, underperforming the Consumer Staples sector's gain of 4.4% and the S&P 500's gain of 3.05%.
Market participants will be closely following the financial results of Clorox in its upcoming release. The company plans to announce its earnings on February 1, 2024. The company's upcoming EPS is projected at $1.07, signifying a 9.18% increase compared to the same quarter of the previous year. In the meantime, our current consensus estimate forecasts the revenue to be $1.78 billion, indicating a 3.6% growth compared to the corresponding quarter of the prior year.
For the full year, the Zacks Consensus Estimates project earnings of $4.57 per share and a revenue of $6.98 billion, demonstrating changes of -10.22% and -5.47%, respectively, from the preceding year.
Investors might also notice recent changes to analyst estimates for Clorox. These revisions help to show the ever-changing nature of near-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.
The Zacks Rank system, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 0.13% lower within the past month. Right now, Clorox possesses a Zacks Rank of #3 (Hold).
From a valuation perspective, Clorox is currently exchanging hands at a Forward P/E ratio of 31.52. This valuation marks a premium compared to its industry's average Forward P/E of 23.39.
We can additionally observe that CLX currently boasts a PEG ratio of 3.02. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. As of the close of trade yesterday, the Soap and Cleaning Materials industry held an average PEG ratio of 3.16.
The Soap and Cleaning Materials industry is part of the Consumer Staples sector. Currently, this industry holds a Zacks Industry Rank of 202, positioning it in the bottom 20% of all 250+ industries.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow CLX in the coming trading sessions, be sure to utilize Zacks.com.
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The Clorox Company (CLX) : Free Stock Analysis Report
