Why Clorox Stock Dropped on Wednesday
Clorox (NYSE: CLX) investors were seeing red on Wednesday morning. The consumer staples stock fell 6% in early morning trading while the S 500 declined just 0.3%. That drop added to a tough period for shareholders, with Clorox down 16% in the past full year compared to a 20% surge in the wider market.
Wednesday's early decline came after management updated its 2024 outlook following another tough quarter on sales.
Clorox said in a premarket earnings report that sales fell in the fiscal third-quarter period that ran through late March, mainly due to a cyberattack that disrupted its distribution network. Revenue declined 5% and organic sales rose 2%. These metrics were up 16% and 20% in the previous quarter, respectively.
Source Fool.com
Clorox Co. Aktie
90,94 €
-0,20 %
Einige Sell-Einschätzungen bei Clorox Co. überwiegen die Buy-Einschätzungen leicht.
Das Kursziel von 91 € für Clorox Co. liegt über dem aktuellen Kurs von 90.94 €, ergibt aber ein positives Potenzial von 0.07%.
