Clorox Company (The) ($CLX) Stock Forecast: Up 6.8% Today

What is Clorox Company (The)?

Clorox (CLX) is a consumer goods company known for its cleaning and household products. The stock had a strong bullish movement today.

Why is Clorox Company (The) going up?

CLX stock is up 6.8% on Aug 2, 2024 19:46

• Clorox reported Q4 earnings that beat estimates, with an expected improvement in gross margin for fiscal 2025, showcasing strong financial performance.
• Despite a target price cut due to increasing competitive pressures, investors seem optimistic about the company's ability to navigate challenges and maintain profitability.
• The sale of a business unit and the guilty pleas in a loan scheme involving Bay Area men may have had minimal impact on Clorox's stock movement compared to the positive earnings results.
• Overall, Clorox's strategic margin management efforts and solid financial results likely contributed to the bullish market movement today.

CLX Price Chart

CLX News

Stocks making the biggest moves midday: Chevron, Apple, Clorox, Amazon and more

These are the stocks posting the largest moves in midday trading.

https://www.cnbc.com/2024/08/02/stocks-making-the-biggest-moves-midday-cvx-aapl-clx-amzn-and-more.html

Daily Digest: Intel slashes thousands of jobs; Clorox sells off business unit

Meanwhile, the U.S. Dept. of Justice announced Thursday that four Bay Area men have pleaded guilty in a scheme to obtain $55 million in home loans.

https://www.bizjournals.com/sanfrancisco/news/2024/08/02/sfbt-digest-friday-clorox-chevron-intel.html?ana=brss_2062

Clorox ( CLX ) Q4 Earnings Beat Estimates, Gross Margin Expands

Clorox's (CLX) fiscal 2025 gross margin is expected to improve by around 100 basis points, driven by comprehensive margin management efforts.

https://www.zacks.com/stock/news/2315012/clorox-clx-q4-earnings-beat-estimates-gross-margin-expands

Clorox target price cut amid increasing competitive pressures

https://www.investing.com/news/company-news/clorox-target-price-cut-amid-increasing-competitive-pressures-93CH-3551493

https://www.investing.com/news/company-news/clorox-target-price-cut-amid-increasing-competitive-pressures-93CH-3551493

Q4 2024 Clorox Co Earnings Call Transcript

Q4 2024 Clorox Co Earnings Call Transcript

https://www.gurufocus.com/news/2490673/q4-2024-clorox-co-earnings-call-transcript

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Clorox Company (The) Price History

04.01.2024 - CLX Stock was up 5.6%

• The bullish movement in Clorox's stock today can be attributed to the following factors:
• 1. Better-than-expected earnings: Clorox reported earnings per share of $2.16, surpassing expectations. This positive financial performance likely instilled confidence in investors and contributed to the stock's bullish movement.
• 2. Raised full-year outlook: Clorox also raised its full-year outlook, indicating a positive outlook for future growth and profitability. This optimistic guidance may have attracted investors and led to increased buying activity.
• 3. Solid Q2 results: Clorox's second-quarter fiscal 2024 results exceeded estimates, driven by higher volumes, pricing actions, and cost-saving initiatives. These positive operational factors likely contributed to the stock's upward momentum.
• Overall, the combination of strong financial performance, positive outlook, and solid operational results likely fueled the bullish movement in Clorox's stock today.

05.09.2023 - CLX Stock was down 6.7%

• The bearish movement in CLX stock today can be attributed to the following factors:
• 1. Disappointing Q1 FY24 financial results: Clorox reported a decline in net sales and organic sales, falling short of market expectations. This negative outlook for the company's earnings likely contributed to the bearish movement in the stock.
• 2. Analyst downgrades and price target cuts: Truist Securities lowered its price target for Clorox, indicating a less optimistic outlook for the stock. Such downgrades and cuts in price targets can often lead to a decrease in investor confidence and subsequent selling pressure.
• 3. Market sentiment and broader market trends: The overall market sentiment, as indicated by the decline in S&P 500 Index futures and the energy sector, may have also influenced the bearish movement in CLX stock. Additionally, the disappointing performance of other stocks in the pre-market trading session could have further dampened investor sentiment towards Clorox.
• In summary, the bearish movement in Clorox stock today can be attributed to the company's disappointing financial results, analyst downgrades, and the overall market sentiment.

02.10.2023 - CLX Stock was up 8.0%

• The bullish movement in Clorox stock today can be attributed to the following factors:
• 1. Strong Q1 Earnings: Despite a 20% decline in revenue compared to the previous year, Clorox reported better-than-expected earnings for the first quarter. This positive performance likely boosted investor confidence and contributed to the stock's upward movement.
• 2. Resilience after Cyberattack: Clorox recently experienced a cyberattack, which led to a lowered fiscal 2024 outlook. However, the stock managed to rise despite this setback, indicating that investors may have been reassured by the company's ability to overcome the challenges posed by the attack.
• 3. Confidence in Inventory Management: Clorox is betting on strong inventory management to mitigate the impact of the cyberattack. This strategy may have instilled confidence in investors, leading to increased buying activity and driving the stock price higher.
• Overall, Clorox's strong earnings performance, resilience in the face of a cyberattack, and confidence in inventory management likely contributed to the bullish movement in the stock today.

02.07.2024 - CLX Stock was up 7.3%

• Clorox's Q4 earnings beat estimates and the company's gross margin is expected to expand in fiscal 2025, driving investor confidence and pushing the stock price higher.
• Despite a target price cut due to increasing competitive pressures, Clorox's strong forward guidance and positive quarterly earnings results have overshadowed these concerns, leading to a surge in the stock price.
• The company's comprehensive margin management efforts and successful financial performance have likely contributed to the bullish movement, attracting investors seeking growth opportunities in the consumer goods sector.
• Overall, Clorox's strategic initiatives and solid financial results have propelled the stock upwards, demonstrating resilience in the face of market challenges and competition.

02.07.2024 - CLX Stock was up 6.8%

• Clorox reported Q4 earnings that beat estimates, with an expected improvement in gross margin for fiscal 2025, showcasing strong financial performance.
• Despite a target price cut due to increasing competitive pressures, investors seem optimistic about the company's ability to navigate challenges and maintain profitability.
• The sale of a business unit and the guilty pleas in a loan scheme involving Bay Area men may have had minimal impact on Clorox's stock movement compared to the positive earnings results.
• Overall, Clorox's strategic margin management efforts and solid financial results likely contributed to the bullish market movement today.