Procter & Gamble (NYSE:PG) Issues FY 2024 Earnings Guidance

Procter & Gamble (NYSE:PG) updated its FY 2024 earnings guidance on Friday. The company provided earnings per share (EPS) guidance of 6.490-6.550 for the period, compared to the consensus estimate of 6.450. The company issued revenue guidance of $83.6 billion-$85.3 billion, compared to the consensus revenue estimate of $84.7 billion.

Analyst Ratings Changes

Several research analysts have recently commented on the stock. Barclays lifted their price target on shares of Procter & Gamble from $165.00 to $168.00 and gave the company an overweight rating in a report on Friday, April 12th. Deutsche Bank Aktiengesellschaft raised their target price on Procter & Gamble from $170.00 to $172.00 and gave the company a buy rating in a research note on Wednesday, April 3rd. Raymond James increased their price objective on shares of Procter & Gamble from $170.00 to $175.00 and gave the stock an outperform rating in a report on Wednesday, January 24th. UBS Group boosted their target price on shares of Procter & Gamble from $172.00 to $178.00 and gave the company a buy rating in a research note on Wednesday, January 24th. Finally, Wells Fargo & Company raised their price target on shares of Procter & Gamble from $162.00 to $170.00 and gave the company an overweight rating in a research note on Wednesday, January 24th. Seven equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat, Procter & Gamble presently has an average rating of Moderate Buy and a consensus price target of $168.53.

Procter & Gamble Trading Up 0.1 %

Procter & Gamble stock opened at $157.16 on Friday. Procter & Gamble has a 1 year low of $141.45 and a 1 year high of $163.14. The firm’s 50 day moving average price is $159.13 and its two-hundred day moving average price is $152.83. The firm has a market cap of $369.80 billion, a price-to-earnings ratio of 26.33, a price-to-earnings-growth ratio of 3.21 and a beta of 0.44. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.44 and a current ratio of 0.64.

Procter & Gamble (NYSE:PG) last announced its earnings results on Tuesday, January 23rd. The company reported $1.84 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.70 by $0.14. Procter & Gamble had a return on equity of 34.04% and a net margin of 17.60%. The company had revenue of $21.44 billion for the quarter, compared to analyst estimates of $21.48 billion. During the same period in the previous year, the firm earned $1.59 earnings per share. Procter & Gamble’s revenue for the quarter was up 3.2% compared to the same quarter last year. On average, research analysts predict that Procter & Gamble will post 6.45 EPS for the current fiscal year.

Procter & Gamble Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 15th. Stockholders of record on Friday, April 19th will be given a $1.0065 dividend. This is an increase from Procter & Gamble’s previous quarterly dividend of $0.94. This represents a $4.03 annualized dividend and a dividend yield of 2.56%. The ex-dividend date of this dividend is Thursday, April 18th. Procter & Gamble’s dividend payout ratio (DPR) is 62.98%.

Insider Activity at Procter & Gamble

In other Procter & Gamble news, CEO Gary A. Coombe sold 22,000 shares of the business’s stock in a transaction on Friday, February 23rd. The shares were sold at an average price of $161.32, for a total transaction of $3,549,040.00. Following the sale, the chief executive officer now directly owns 36,845 shares of the company’s stock, valued at approximately $5,943,835.40. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other Procter & Gamble news, CEO Gary A. Coombe sold 22,000 shares of Procter & Gamble stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of $161.32, for a total transaction of $3,549,040.00. Following the transaction, the chief executive officer now owns 36,845 shares of the company’s stock, valued at approximately $5,943,835.40. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Marc S. Pritchard sold 101,704 shares of the stock in a transaction that occurred on Wednesday, January 24th. The stock was sold at an average price of $153.57, for a total transaction of $15,618,683.28. Following the completion of the sale, the insider now directly owns 163,428 shares of the company’s stock, valued at $25,097,637.96. The disclosure for this sale can be found here. In the last 90 days, insiders sold 279,063 shares of company stock worth $43,187,745. 0.17% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Procter & Gamble

Hedge funds have recently modified their holdings of the stock. Aspect Partners LLC purchased a new position in Procter & Gamble in the fourth quarter valued at about $35,000. Itau Unibanco Holding S.A. acquired a new position in Procter & Gamble in the second quarter worth approximately $50,000. MayTech Global Investments LLC bought a new position in Procter & Gamble during the fourth quarter valued at approximately $83,000. Fortis Capital Advisors LLC acquired a new stake in Procter & Gamble in the fourth quarter valued at approximately $109,000. Finally, Worth Asset Management LLC bought a new stake in Procter & Gamble in the first quarter worth approximately $111,000. 65.77% of the stock is owned by institutional investors and hedge funds.

About Procter & Gamble

The Procter & Gamble Company provides branded consumer packaged goods worldwide. It operates through five segments: Beauty; Grooming; Health Care; Fabric & Home Care; and Baby, Feminine & Family Care. The Beauty segment offers conditioners, shampoos, styling aids, and treatments under the Head & Shoulders, Herbal Essences, Pantene, and Rejoice brands; and antiperspirants and deodorants, personal cleansing, and skin care products under the Olay, Old Spice, Safeguard, Secret, and SK-II brands.