In the latest trading session, Clorox (CLX) closed at $227.91, marking a +1.07% move from the previous day. This move outpaced the S&P 500's daily loss of 0.34%. At the same time, the Dow lost 0.5%, and the tech-heavy Nasdaq lost 0.73%.
Prior to today's trading, shares of the consumer products maker had gained 6.37% over the past month. This has outpaced the Consumer Staples sector's gain of 2.28% and the S&P 500's gain of 5.71% in that time.
Wall Street will be looking for positivity from CLX as it approaches its next earnings report date. This is expected to be August 3, 2020. On that day, CLX is projected to report earnings of $1.99 per share, which would represent year-over-year growth of 5.85%. Our most recent consensus estimate is calling for quarterly revenue of $1.85 billion, up 13.81% from the year-ago period.
Any recent changes to analyst estimates for CLX should also be noted by investors. 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 benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 0.24% higher. CLX is currently a Zacks Rank #2 (Buy).
Digging into valuation, CLX currently has a Forward P/E ratio of 31.12. This represents a premium compared to its industry's average Forward P/E of 24.44.
Investors should also note that CLX has a PEG ratio of 5.39 right now. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. CLX's industry had an average PEG ratio of 4.19 as of yesterday's close.
The Soap and Cleaning Materials industry is part of the Consumer Staples sector. This industry currently has a Zacks Industry Rank of 55, which puts it in the top 22% of all 250+ industries.
The Zacks Industry Rank includes is listed in order 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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The Clorox Company (CLX): Free Stock Analysis Report
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.