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Why the Market Dipped But Clorox (CLX) Gained Today
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In the latest trading session, Clorox (CLX - Free Report) closed at $142.72, marking a +0.95% move from the previous day. The stock outpaced the S&P 500's daily loss of 0.07%.
The consumer products maker's stock has dropped by 2.93% in the past month, falling short of the Consumer Staples sector's gain of 6.97% and the S&P 500's gain of 3.98%.
Analysts and investors alike will be keeping a close eye on the performance of Clorox in its upcoming earnings disclosure. The company's earnings report is set to go public on February 1, 2024. The company's earnings per share (EPS) are projected to be $1.07, reflecting a 9.18% increase from the same quarter last year. Alongside, our most recent consensus estimate is anticipating revenue of $1.78 billion, indicating a 3.57% upward movement from the same quarter last year.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $4.59 per share and a revenue of $7 billion, representing changes of -9.82% and -5.29%, respectively, from the prior year.
Investors might also notice recent changes to analyst estimates for Clorox. These recent revisions tend to reflect the evolving nature of short-term business trends. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. 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 witnessed a 0.54% increase. Right now, Clorox possesses a Zacks Rank of #3 (Hold).
Looking at valuation, Clorox is presently trading at a Forward P/E ratio of 30.81. This expresses a premium compared to the average Forward P/E of 23.28 of its industry.
We can also see that CLX currently has a PEG ratio of 2.96. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. As the market closed yesterday, the Soap and Cleaning Materials industry was having an average PEG ratio of 3.12.
The Soap and Cleaning Materials industry is part of the Consumer Staples sector. This group has a Zacks Industry Rank of 224, putting it in the bottom 12% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.
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Why the Market Dipped But Clorox (CLX) Gained Today
In the latest trading session, Clorox (CLX - Free Report) closed at $142.72, marking a +0.95% move from the previous day. The stock outpaced the S&P 500's daily loss of 0.07%.
The consumer products maker's stock has dropped by 2.93% in the past month, falling short of the Consumer Staples sector's gain of 6.97% and the S&P 500's gain of 3.98%.
Analysts and investors alike will be keeping a close eye on the performance of Clorox in its upcoming earnings disclosure. The company's earnings report is set to go public on February 1, 2024. The company's earnings per share (EPS) are projected to be $1.07, reflecting a 9.18% increase from the same quarter last year. Alongside, our most recent consensus estimate is anticipating revenue of $1.78 billion, indicating a 3.57% upward movement from the same quarter last year.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $4.59 per share and a revenue of $7 billion, representing changes of -9.82% and -5.29%, respectively, from the prior year.
Investors might also notice recent changes to analyst estimates for Clorox. These recent revisions tend to reflect the evolving nature of short-term business trends. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. 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 witnessed a 0.54% increase. Right now, Clorox possesses a Zacks Rank of #3 (Hold).
Looking at valuation, Clorox is presently trading at a Forward P/E ratio of 30.81. This expresses a premium compared to the average Forward P/E of 23.28 of its industry.
We can also see that CLX currently has a PEG ratio of 2.96. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. As the market closed yesterday, the Soap and Cleaning Materials industry was having an average PEG ratio of 3.12.
The Soap and Cleaning Materials industry is part of the Consumer Staples sector. This group has a Zacks Industry Rank of 224, putting it in the bottom 12% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.