Clorox (CLX) Stock Falls Amid Market Uptick: What Investors Need to Know
In the latest market close, Clorox (CLX) reached $141.55, with a -1.46% movement compared to the previous day. The stock's change was less than the S&P 500's daily gain of 0.41%. Elsewhere, the Dow saw an upswing of 0.36%, while the tech-heavy Nasdaq appreciated by 0.45%.
Coming into today, shares of the consumer products maker had gained 8.56% in the past month. In that same time, the Consumer Staples sector gained 1.98%, while the S&P 500 gained 4.91%.
The investment community will be paying close attention to the earnings performance of Clorox in its upcoming release. The company is predicted to post an EPS of $1.06, indicating an 8.16% growth compared to the equivalent quarter last year. Meanwhile, the latest consensus estimate predicts the revenue to be $1.77 billion, indicating a 3.25% increase compared to the same quarter of the previous year.
For the annual period, the Zacks Consensus Estimates anticipate earnings of $4.56 per share and a revenue of $6.99 billion, signifying shifts of -10.41% and -5.41%, respectively, from the last year.
Any recent changes to analyst estimates for Clorox should also be noted by investors. These latest adjustments often mirror the shifting dynamics of short-term business patterns. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.
Empirical research indicates that these revisions in estimates have a direct correlation with impending 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.
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. Over the last 30 days, the Zacks Consensus EPS estimate has moved 1.23% higher. Clorox is currently sporting a Zacks Rank of #3 (Hold).
Digging into valuation, Clorox currently has a Forward P/E ratio of 31.48. This valuation marks a premium compared to its industry's average Forward P/E of 22.8.
Also, we should mention that CLX has a PEG ratio of 3.11. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. CLX's industry had an average PEG ratio of 3.23 as of yesterday's close.
The Soap and Cleaning Materials industry is part of the Consumer Staples sector. At present, this industry carries a Zacks Industry Rank of 12, placing it within the top 5% of over 250 industries.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming 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
