The Clorox Company (NYSE:CLX) to Issue Quarterly Dividend of $1.25

Key Points

• Clorox will pay a quarterly dividend of $1.25 per share on November 13 to shareholders of record on October 28, representing a $5.00 annualized dividend and approximately a 6.0% yield. The company has raised its dividend for 47 consecutive years.
• The dividend appears supported by earnings, with a current payout ratio of 73.3% and an expected future payout ratio of 78.4% based on projected earnings of $6.38 per share.
• Clorox shares recently traded near $83.66, close to their 12-month low, while analysts maintain a consensus “Reduce” rating and an average price target of $101.40. The company’s latest quarterly earnings slightly exceeded expectations, although revenue declined 2.0% year over year.

The Clorox Company (NYSE:CLX - Get Free Report) announced a quarterly dividend on Wednesday, September 23rd. Shareholders of record on Wednesday, October 28th will be paid a dividend of 1.25 per share on Friday, November 13th. This represents a c) annualized dividend and a yield of 6.0%. The ex-dividend date is Wednesday, October 28th.

Clorox has increased its dividend payment by an average of 0.0%annually over the last three years and has increased its dividend every year for the last 47 years. Clorox has a payout ratio of 73.3% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Clorox to earn $6.38 per share next year, which means the company should continue to be able to cover its $5.00 annual dividend with an expected future payout ratio of 78.4%.

Clorox Trading Down 0.3%

NYSE CLX traded down $0.28 during trading on Thursday, hitting $83.66. 418,132 shares of the company's stock traded hands, compared to its average volume of 2,640,192. The firm has a market cap of $10.12 billion, a P/E ratio of 17.37, a PEG ratio of 2.73 and a beta of 0.56. The stock has a fifty day moving average of $97.66 and a two-hundred day moving average of $98.25. The company has a debt-to-equity ratio of 15.80, a current ratio of 0.66 and a quick ratio of 0.38. Clorox has a 12-month low of $82.51 and a 12-month high of $128.90.

Clorox (NYSE:CLX - Get Free Report) last issued its quarterly earnings data on Monday, August 3rd. The company reported $1.66 EPS for the quarter, topping the consensus estimate of $1.64 by $0.02. The business had revenue of $1.95 billion during the quarter, compared to analyst estimates of $1.91 billion. Clorox had a net margin of 8.74% and a return on equity of 522.23%. Clorox's quarterly revenue was down 2.0% compared to the same quarter last year. During the same period last year, the business posted $2.87 earnings per share. Clorox has set its FY 2027 guidance at 5.700-6.000 EPS. As a group, sell-side analysts expect that Clorox will post 5.8 EPS for the current year.

Analyst Ratings Changes

A number of research analysts have weighed in on the company. Wells Fargo & Company lowered their target price on Clorox from $102.00 to $90.00 and set an "equal weight" rating on the stock in a report on Friday, September 11th. Weiss Ratings reaffirmed a "hold (c-)" rating on shares of Clorox in a research note on Friday, July 10th. Zacks Research raised Clorox from a "strong sell" rating to a "hold" rating in a research report on Monday, September 14th. Deutsche Bank Aktiengesellschaft set a $98.00 target price on shares of Clorox in a report on Tuesday, August 4th. Finally, Barclays reiterated an "underweight" rating and issued a $84.00 price target on shares of Clorox in a research report on Tuesday, August 4th. Thirteen analysts have rated the stock with a Hold rating and four have given a Sell rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Reduce" and an average price target of $101.40.

Clorox Company Profile

The Clorox Company NYSE: CLX is a consumer products company that develops, manufactures and markets household, health and wellness, and lifestyle products. Its portfolio includes cleaning and disinfecting products, laundry and home-care items, food products, personal-care products, water-filtration systems, charcoal, and cat litter.

Clorox's brands include Clorox bleach and disinfecting products, Pine-Sol, Fresh Step and Scoop Away, Kingsford, Brita, Burt's Bees, Hidden Valley, and products marketed under the Glad name.

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