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Clorox (CLX) Outpaces Stock Market Gains: What You Should Know

Zacks Equity Research

In the latest trading session, Clorox (CLX) closed at $217.46, marking a +1.62% move from the previous day. This move outpaced the S&P 500's daily gain of 1.27%. Meanwhile, the Dow gained 1.18%, and the Nasdaq, a tech-heavy index, added 1.87%.

Coming into today, shares of the consumer products maker had lost 4.76% in the past month. In that same time, the Consumer Staples sector gained 1.93%, while the S&P 500 gained 0.37%.

Wall Street will be looking for positivity from CLX as it approaches its next earnings report date. In that report, analysts expect CLX to post earnings of $2.39 per share. This would mark year-over-year growth of 50.31%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $1.74 billion, up 15.8% from the year-ago period.

CLX's full-year Zacks Consensus Estimates are calling for earnings of $7.76 per share and revenue of $6.94 billion. These results would represent year-over-year changes of +5.43% and +3.3%, respectively.

It is also important to note the recent changes to analyst estimates for CLX. These recent revisions tend to reflect the evolving nature of short-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.

Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.

Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. CLX is currently sporting a Zacks Rank of #3 (Hold).

Looking at its valuation, CLX is holding a Forward P/E ratio of 27.58. This represents a premium compared to its industry's average Forward P/E of 24.8.

Also, we should mention that CLX has a PEG ratio of 3.93. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. The Soap and Cleaning Materials was holding an average PEG ratio of 3.83 at yesterday's closing price.

The Soap and Cleaning Materials industry is part of the Consumer Staples sector. This industry currently has a Zacks Industry Rank of 34, which puts it in the top 14% of all 250+ industries.

The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.


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