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Why Clorox (CLX) Dipped More Than Broader Market Today
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Clorox (CLX - Free Report) closed the most recent trading day at $141.91, moving -0.19% from the previous trading session. The stock's performance was behind the S&P 500's daily loss of 0.01%. Meanwhile, the Dow gained 0.15%, and the Nasdaq, a tech-heavy index, added 0.36%.
Heading into today, shares of the consumer products maker had gained 2.25% over the past month, lagging the Consumer Staples sector's gain of 2.74% and the S&P 500's gain of 5.21% in that time.
Analysts and investors alike will be keeping a close eye on the performance of Clorox in its upcoming earnings disclosure. The company is predicted to post an EPS of $1.06, indicating an 8.16% growth compared to the equivalent quarter last year. Our most recent consensus estimate is calling for quarterly revenue of $1.77 billion, up 3.25% from the year-ago period.
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.
Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for Clorox. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 1.19% higher. At present, Clorox boasts a Zacks Rank of #3 (Hold).
Valuation is also important, so investors should note that Clorox has a Forward P/E ratio of 31.16 right now. Its industry sports an average Forward P/E of 22.52, so one might conclude that Clorox is trading at a premium comparatively.
It's also important to note that CLX currently trades at a PEG ratio of 3.08. 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. As of the close of trade yesterday, the Soap and Cleaning Materials industry held an average PEG ratio of 3.21.
The Soap and Cleaning Materials industry is part of the Consumer Staples sector. With its current Zacks Industry Rank of 93, this industry ranks in the top 37% of all industries, numbering over 250.
The Zacks Industry Rank is ordered 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.
Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.
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Why Clorox (CLX) Dipped More Than Broader Market Today
Clorox (CLX - Free Report) closed the most recent trading day at $141.91, moving -0.19% from the previous trading session. The stock's performance was behind the S&P 500's daily loss of 0.01%. Meanwhile, the Dow gained 0.15%, and the Nasdaq, a tech-heavy index, added 0.36%.
Heading into today, shares of the consumer products maker had gained 2.25% over the past month, lagging the Consumer Staples sector's gain of 2.74% and the S&P 500's gain of 5.21% in that time.
Analysts and investors alike will be keeping a close eye on the performance of Clorox in its upcoming earnings disclosure. The company is predicted to post an EPS of $1.06, indicating an 8.16% growth compared to the equivalent quarter last year. Our most recent consensus estimate is calling for quarterly revenue of $1.77 billion, up 3.25% from the year-ago period.
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.
Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for Clorox. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 1.19% higher. At present, Clorox boasts a Zacks Rank of #3 (Hold).
Valuation is also important, so investors should note that Clorox has a Forward P/E ratio of 31.16 right now. Its industry sports an average Forward P/E of 22.52, so one might conclude that Clorox is trading at a premium comparatively.
It's also important to note that CLX currently trades at a PEG ratio of 3.08. 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. As of the close of trade yesterday, the Soap and Cleaning Materials industry held an average PEG ratio of 3.21.
The Soap and Cleaning Materials industry is part of the Consumer Staples sector. With its current Zacks Industry Rank of 93, this industry ranks in the top 37% of all industries, numbering over 250.
The Zacks Industry Rank is ordered 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.
Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.