Q3 Preview: Clorox (CLX) Shares Dip Slightly Heading Into Earnings - Analyst
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Price: $106.69 +0.61%
Rating Summary:
1 Buy, 20 Hold, 5 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
Rating Summary:
1 Buy, 20 Hold, 5 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
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Shares of The Clorox Co. (NYSE: CLX) are down 25 cents to $66.28 in midday market movement on Monday ahead of the company's third-quarter earnings release scheduled for Tuesday before the opening bell.
The consumer products company is expected by analysts to report earnings of $1.14 per share on revenue of $1.38 billion.
In the second quarter, Clorox reported earnings of $1.20 cents per share, in line with the analyst estimate. The company reported second-quarter revenue of $1.52 billion, compared to the consensus of $1.51 billion.
Since the start of the third quarter, shares of Clorox are up $1.45 or 2.23 percent. Year-to-date the stock is up $5.33 or 8.74 percent.
A valuation shows that Clorox is going for a forward P/E of 15.65x full year 2010 estimates.
Data from Bloomberg shows that 7 analysts have a Buy rating on the stock, 14 have a Hold and 1 has a Sell. The average analyst price target on Clorox is $69 with a target range of $63 to $76.
Analyst Comments
Goldman Sachs maintains a Neutral rating on Clorox with a price target of $66.
Goldman Sachs analyst says, "We lean negative after the recent strength in shares. Our $1.13 2011E EPS estimate falls slightly below consensus due to our expectations for: (1) lingering US sales softness, and (2) 60 bp yoy GM decline due to pricing pressure and challenges in getting Glad price increase through."
The consumer products company is expected by analysts to report earnings of $1.14 per share on revenue of $1.38 billion.
In the second quarter, Clorox reported earnings of $1.20 cents per share, in line with the analyst estimate. The company reported second-quarter revenue of $1.52 billion, compared to the consensus of $1.51 billion.
Since the start of the third quarter, shares of Clorox are up $1.45 or 2.23 percent. Year-to-date the stock is up $5.33 or 8.74 percent.
A valuation shows that Clorox is going for a forward P/E of 15.65x full year 2010 estimates.
Data from Bloomberg shows that 7 analysts have a Buy rating on the stock, 14 have a Hold and 1 has a Sell. The average analyst price target on Clorox is $69 with a target range of $63 to $76.
Analyst Comments
Goldman Sachs maintains a Neutral rating on Clorox with a price target of $66.
Goldman Sachs analyst says, "We lean negative after the recent strength in shares. Our $1.13 2011E EPS estimate falls slightly below consensus due to our expectations for: (1) lingering US sales softness, and (2) 60 bp yoy GM decline due to pricing pressure and challenges in getting Glad price increase through."
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