JPMorgan Lowers Clorox (CLX) Worth Goal as Demand Slows, Dividend Development Stays a Shiny Spot
The Clorox Firm (NYSE:CLX) is included among the many 11 Low PE Excessive Dividend Shares to Purchase In accordance with Analysts.
The Clorox Firm (NYSE:CLX) manufactures and markets a variety of consumer and skilled merchandise. Whereas it has lengthy been a favorite amongst investors, its appeal appears to have waned recently.
On October 10, JPMorgan analyst Andrea Teixeira lowered the agency’s value goal for The Clorox Firm (NYSE:CLX) from $135 to $127 whereas sustaining a Impartial score. In Q3 outlook for the family, personal automotivee, and sweetness sector, she noted that many massive-cap corporations on this area are anticipated to post one other weaok quarter on account of subdued consumer demand within the US and slowing developments throughout Western Europe. The state of affairs is being made worse as retailers continue to reduce their inventories.
Even so, The Clorox Firm (NYSE:CLX) dividend record remains a vivid spot. The company has raised its dividend for 22 straight years and reported stable money circulate in 2024, with web money from operations reaching $981 million, up 41% from $695 million within the prior fiscal yr. It at the moment presents a quarterly dividend of $1.24 per share and has a dividend yield of 4.16%, as of October 14.
Whereas we acknowledge the potential of CLX as an funding, we consider sure AI shares supply higher upside potential and carry much less draw back danger. If you happen to’re searching for an especially undervalued AI inventory that additionally stands to profit considerably from Trump-era tariffs and the onshoring pattern, see our free report on the greatest short-term AI inventory.
READ NEXT: 12 Greatest Dividend Shares With Yields Above 4% and 12 Dependable Dividend Shares for Most Earnings
Disclosure: None.
