The Clorox Company
) strong revenue generating capabilities, impressive quarterly
beats and upbeat outlook facilitated it to record a new 52-week
high for the 2
After attaining a 52-week high of $88.63 on Thursday, Mar 28,
shares of this consumer products company further soared to touch
a new high of $89.33 yesterday. Shares eventually closed at
$89.17, rising 21.4% year to date. The company currently trades
at a forward P/E of 20.58x, at par with the peer group
Alongside, companies like
Tiffany & Co.
Budget Group, Inc.
) crafted new 52-week highs of $72.48, $31.13 and $29.53,
respectively on Tuesday.
Clorox's diversified portfolio of brands positions it well to
generate above-average industry growth amid a challenging
environment. The company's rigorous research & development
process, marketing strategies, financial control, and operating
leverage further strengthen its brands and facilitate it to
generate long-term profitability, which is well evident from its
record of beating the quarterly earnings expectations.
If we look at the company earnings surprise history, Clorox
has surpassed the Zacks Consensus Estimate in the last 9
quarters. In the last reported quarter, the company's earnings
beat the Zacks Consensus Estimate by 11.1%.
Going forward, Clorox expects to sustain its growth momentum
through market share gains and product innovation. The company
raised its sales growth forecast to 3%-5% for fiscal 2013 from
2%-4% projected earlier.
In fiscal 2013, the company expects operating income margin to
expand 25-50 basis points (bps) on the back of efficient cost
savings, price increases and flat commodity costs. Further,
Clorox raised its fiscal 2013 earnings guidance range to
$4.25-$4.35 per share from the previous range of $4.20-$4.35.
Currently, shares of Clorox maintain a Zacks Rank #2
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