by Zacks Equity ResearchAugust 21, 2012 | Comments : 0 Recommended this article: (0)
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Clorox Company's business operations, represented by the aggregate of its U.S. Household Products and Canada, U.S. Specialty Products and International segments, include the production and marketing of non- durable consumer products sold primarily through grocery and other retail stores.
For the full year, the company reported earnings of $4.24 per share, surpassing the year-ago earnings of $4.16 and the Zacks Consensus Estimate of $4.05. Full-year sales increased 4.5% year over year to $5,468 million, slightly surpassing the Zacks Consensus Estimate of $5,461 million.
In the quarter, Clorox bought back about 1 million shares for approximately $68 million. Full year share repurchases totaled 3.4 million shares for approximately $225 million. The company anticipates annual earnings of $4.20 to $4.35 per share in fiscal 2013.
Our target price of $86.00 is based on a 20x multiple of 2013 earnings estimates.
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