Estimates Trimmed at Kimberly-Clark

Nonwovens wipes maker Kimberly-Clark isn’t cleaning up on Wall Street. An analyst on Wednesday trimmed her earnings estimate for the fiscal second quarter on Kimberly-Clark Corp., following last month’s news that the household products maker will record costs to cut hundreds of jobs in the tough economy.

Last month, the company said it will slash 1,600 jobs, or 3% of its global work force. Kimberly-Clark said the cuts will save about $150 million a year, or about 25 cents per share, but the company will record $110 million of the costs in the second quarter.

BMO Capital Markets analyst Connie Maneaty kept an “Outperform” rating on the stock, but lowered her second-quarter profit estimate by 13 percent to 86 cents per share, given the costs for the job cuts.

Her $60 price target implies shares have room to rise 13.5 percent from Tuesday’s closing price of $52.85.

Kimberly-Clark makes Kleenex tissues, Huggies diapers and other household items.

The Irving, Texas-based company will update its earnings guidance when it reports second-quarter results, scheduled for July 23.