Clorox (CLX) (AGN) (BAH) (DNDN) (ENTR) Downgraded

Clorox Co. (NYSE: CLX), Allergan, Inc. (NYSE: AGN), Booz Allen Hamilton Holding Co. (NYSE: BAH), Dendreon Co. (NASDAQ: DNDN) and Entropic Communications (NASDAQ: ENTR) downgraded by analysts.

Allergan, Inc. (AGN) was downgraded by Piper Jaffray (NYSE:PJC) from an “Overweight” rating to a “Neutral” rating. They have a price target of $89.00 on the company.

Booz Allen Hamilton Holding Co. (BAH) was downgraded by Wells Fargo & Co. (NYSE:WFC) to an “Underweight” rating.

Clorox Co. (CLX) was downgraded by Caris & Company from an “Average” rating to a “Below Average” rating. They have a price target of $60.00 on the company.

Dendreon Co. (DNDN) was downgraded by Brean Murray from a “Buy” rating to a “Sell” rating. They have a price target of $6.00 on the company, down from $60.00.

Entropic Communications (ENTR) was downgraded by JPMorgan Chase & Co. (NYSE:JPM) from an “Overweight” rating to a “Neutral” rating.

Suntech (STP) (YGE) (SOL) (CLX) (NRGY) Downgraded

Suntech Power (NYSE: STP), Yingli Green Energy Hold. Co. Ltd. (NYSE: YGE), ReneSola Ltd. (NYSE: SOL), Clorox Co (NYSE: CLX) and Inergy (NASDAQ: NRGY) downgraded by analysts.

Deutsche Bank (NYSE: DB) downgraded Suntech Power (STP) from a “buy” rating to a “hold” rating.

Yingli Green Energy (YGE) was downgraded by Deutsche Bank from a “buy” rating to a “hold” rating.

ReneSola Ltd. (NYSE: SOL) was downgraded by Deutsche Bank from a “buy” rating to a “hold” rating.

Clorox Co (NYSE: CLX) was downgraded by RBC Capital from an “outperform” rating to a “sector perform” rating. They have a price target of $73.00 on the company, up from $72.00.

Inergy (NASDAQ: NRGY) was downgraded by Citigroup (NYSE: C) from a “hold” rating to a “sell” rating.

Clorox (CLX) Declares Quarterly Dividend

The Board of Directors of The Clorox Company (NYSE:CLX) declared a quarterly common stock dividend, increasing it from 55 cents to 60 cents a share, a 9 percent boost.

The dividend will be payable on August 12, 2011, to stockholders of record as of July 27, 2011.

Clorox Chairman and CEO Don Knauss noted, "This dividend increase reflects the board�s confidence in our ability to profitably grow and deliver strong, sustainable returns to Clorox shareholders."

The Clorox Company participates in the production, marketing, and marketing of consumer products in the United States and around the world.

Clorox closed Wednesday at $70.35, falling $0.38, or 0.54 percent.

Price Targets On (CLX) (CNQR) (COCO) (COHR) (DOLE) Updated by Analysts

Analysts have updated their price targets on Clorox Co (NYSE: CLX), Concur Technologies, Inc. (NASDAQ: CNQR), Corinthian Colleges, Inc. (NASDAQ: COCO), Coherent, Inc. (NASDAQ: COHR) and Dole Food (NASDAQ: DOLE).

Goldman Sachs (NYSE:GS) cut their price target on Clorox Co (CLX) to $64.00. They have a “neutral” rating on the company. They lowered their EPS estimates on the company citing the catalyst of higher commodity costs.

FBR Capital raised their price target on Concur Technologies, Inc. (CNQR) from $58.00 to $60.00. They have an “outperform” rating on the company.

Credit Suisse (NYSE:CS) cut their price target on Corinthian Colleges, Inc. (COCO) to $4.00. They have a “neutral” rating on the company.

Longbow Research raised their price target on Coherent, Inc. (COHR) from $66.00 to $70.00. They have a “buy” rating on the company.

Goldman Sachs raised their price target on Dole Food (DOLE) to $14.00. They have a “neutral” rating on the company. They boosted their EPS estimates on the company, citing the stronger fresh fruit business.

Dividend Yields for (CLX) (AVP) (CL) (EL) (CINF)

Indicated dividend yields for Standard & Poor's 500 Index companies Clorox Co (CLX), Avon Products Inc (AVP), Colgate-Palmolive Co (CL), Estee Lauder Cos Inc (EL) and Cincinnati Financial Corp (CINF).

These dividend data indicate dividend yields of companies in the Standard & Poor's 500 Index as of Saturday, April 30. The yield is determined by taking the latest declared dividend, annualized and divided by the price of the stock. Payout ratios are calculated based on latest quarterly dividend paid divided by earnings.

Clorox Co (CLX) has a dividend yield of 3.16 percent on a declared dividend of $0.55. The payout ratio is 54.8 percent.

Avon Products Inc (AVP) has a dividend yield of 3.13 percent on a declared dividend of $0.23. The payout ratio is 43.2 percent.

Colgate-Palmolive Co (CL) has a dividend yield of 2.75 percent on a declared dividend of $0.58. The payout ratio is 95.1 percent.

Estee Lauder Cos Inc (EL) has a dividend yield of 0.77 percent on a declared dividend of $0.75. The payout ratio is 42.9 percent.

Cincinnati Financial Corp (CINF) has a dividend yield of 5.05 percent on a declared dividend of $0.40. The payout ratio is 104.8 percent.

Clorox (NYSE:CLX) EPS Estimates Lowered on Weaker 2011 Sales

Sales for Clorox (NYSE:CLX) in 2011 look like they'll slow down, prompting UBS (NYSE:UBS) to lower their EPS estimates and price target on the company.

UBS said, "We are lowering our EPS estimates to $3.98, to reflect lower sales growth for FY 11 (we estimate flat growth, previously +2%) as well as back-loaded share repurchases. Our FY 2012 EPS is also lowered to $4.43. Our December Q EPS estimate is $0.59, within the company’s guidance range."

UBS reiterates a "Buy" on Clorox, which closed Wednesday at $61.94, gaining $0.37, or 0.60 percent. UBS lowered their price target on Clorox from $76 to $72.

Clorox (NYSE:CLX) Sales Growth Slowing

Sales growth for Clorox (NYSE:CLX) appears to be slowing, as well as share repurchases, as earnings looks like it'll come in below expectations.

Barclays said, "All in, the company expects earnings in F2Q11 to come in - $0.08-0.14/share below our current estimates, reflecting both lower sales growth and a slower pace of share repurchase. Management will update its fiscal year EPS outlook when it reports earnings in early February. In the meantime, we are lowering our F2011 EPS estimate by $0.22/share to $3.93 including roughly $0.13/share due to lower sales, with the balance driven by changes in the timing and flow through of share repurchase activity. Our new price target of $67 implies a roughly 16x multiple on our new calendar 2011 EPS estimate of $4.20."

Barclays maintains an "Overweight" rating on Clorox, which closed at $61.57 on Tuesday. Barclays lowered their price target on them from $71 to $67.