The Clorox Company (CLX) to Issue Quarterly Dividend of $1.22 on February 14th

The Clorox Company (NYSE:CLX) declared a quarterly dividend on Tuesday, November 19th,RTT News reports. Shareholders of record on Wednesday, January 29th will be paid a dividend of 1.22 per share on Friday, February 14th. This represents a $4.88 annualized dividend and a yield of 3.07%. The ex-dividend date of this dividend is Wednesday, January 29th.

Clorox has increased its dividend payment by an average of 2.2% per year over the last three years and has raised its dividend every year for the last 35 years. Clorox has a dividend payout ratio of 67.1% meaning its dividend is sufficiently covered by earnings. Analysts expect Clorox to earn $7.22 per share next year, which means the company should continue to be able to cover its $4.88 annual dividend with an expected future payout ratio of 67.6%.

Clorox Stock Down 1.1 %

Clorox stock opened at $159.12 on Monday. The company has a debt-to-equity ratio of 11.08, a quick ratio of 0.62 and a current ratio of 1.00. The stock has a market cap of $19.70 billion, a PE ratio of 55.44, a price-to-earnings-growth ratio of 2.92 and a beta of 0.42. Clorox has a fifty-two week low of $127.60 and a fifty-two week high of $171.37. The firm’s 50-day simple moving average is $163.66 and its 200 day simple moving average is $157.50.

Clorox (NYSE:CLX) last released its earnings results on Wednesday, October 30th. The company reported $1.86 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.36 by $0.50. The company had revenue of $1.76 billion during the quarter, compared to analyst estimates of $1.64 billion. Clorox had a return on equity of 316.08% and a net margin of 4.78%. Clorox’s quarterly revenue was up 27.0% on a year-over-year basis. During the same period in the prior year, the company posted $0.49 earnings per share. Research analysts predict that Clorox will post 6.87 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on CLX shares. Jefferies Financial Group raised shares of Clorox from a “hold” rating to a “buy” rating and increased their target price for the company from $174.00 to $187.00 in a research report on Tuesday, October 1st. Barclays decreased their target price on Clorox from $139.00 to $130.00 and set an “underweight” rating for the company in a research report on Friday, January 17th. Evercore ISI cut their price target on Clorox from $140.00 to $139.00 and set an “underperform” rating for the company in a research note on Monday, October 14th. TD Cowen upgraded Clorox from a “sell” rating to a “hold” rating and boosted their price objective for the company from $155.00 to $170.00 in a research note on Wednesday, November 6th. Finally, JPMorgan Chase & Co. lifted their target price on shares of Clorox from $167.00 to $171.00 and gave the stock a “neutral” rating in a research note on Thursday, January 16th. Four research analysts have rated the stock with a sell rating, ten have issued a hold rating and one has given a buy rating to the company. According to data from MarketBeat.com, Clorox has a consensus rating of “Hold” and a consensus price target of $156.54.

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.