Clorox (CLX) concluded the latest trading day at $143.35, experiencing a -0.57% change from the previous session. This performance fell behind the S&P 500's daily gain of 0.88%, while the Dow added 0.54%, and the Nasdaq, known for its tech-heavy focus, surged by 1.35%.
In the month leading up to today's trading, Clorox shares had risen by 2.54%. Although this growth trailed behind the Consumer Staples sector's gain of 4.99%, it outpaced the S&P 500's 0.64% increase during the same period.
Investors are eagerly anticipating Clorox's upcoming earnings disclosure, scheduled for February 1, 2024. Projections for the upcoming earnings per share (EPS) stand at $1.07, reflecting a 9.18% rise compared to the same quarter last year. Simultaneously, the latest consensus estimate expects revenue to reach $1.78 billion, indicating a 3.57% escalation from the year-ago quarter.
For the full year, Zacks Consensus Estimates project earnings of $4.59 per share and revenue of $7 billion, showcasing changes of -9.82% and -5.29%, respectively, from the preceding year.
Recent adjustments to analyst estimates for Clorox are noteworthy, as they often mirror the shifting dynamics of short-term business patterns. Positive estimate revisions can be considered a sign of optimism about the company's business outlook.
Research indicates that these estimate changes are closely tied to imminent stock price performance. The Zacks Rank system, ranging from #1 (Strong Buy) to #5 (Strong Sell), leverages these estimate changes and has a strong track record since 1988, with #1 stocks delivering an average annual return of +25%. As of now, Clorox holds a Zacks Rank of #2 (Buy).
In terms of valuation, Clorox is currently trading at a Forward P/E ratio of 31.42, representing a premium compared to the industry's average Forward P/E of 23.35.
Additionally, CLX has a PEG ratio of 3.02, resembling the frequently used P/E ratio but factoring in the company's expected earnings growth trajectory. As of yesterday's close, the Soap and Cleaning Materials industry had an average PEG ratio of 3.12.
Belonging to the Consumer Staples sector, the Soap and Cleaning Materials industry holds a Zacks Industry Rank of 107, positioning it in the top 43% of all 250+ industries. The Zacks Industry Rank serves as an indicator of industry group strength by measuring the average Zacks Rank of individual stocks within the groups.
Research indicates that top 50% rated industries outperform the bottom half by a factor of 2 to 1. To stay updated on Clorox's performance in upcoming trading sessions, consider utilizing Zacks.com for reliable insights.
For the latest recommendations from Zacks Investment Research, you can download their report on the "7 Best Stocks for the Next 30 Days."
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