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

Procter & Gamble (NYSE:PG) issued an update on its FY 2024 earnings guidance on Friday morning. The company provided earnings per share guidance of 6.490-6.550 for the period, compared to the consensus earnings per share 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 Upgrades and Downgrades

Several equities research analysts recently issued reports on the stock. StockNews.com downgraded shares of Procter & Gamble from a buy rating to a hold rating in a research note on Thursday, February 29th. JPMorgan Chase & Co. cut their target price on shares of Procter & Gamble from $169.00 to $162.00 and set an overweight rating for the company in a research note on Thursday, January 18th. Royal Bank of Canada raised their target price on shares of Procter & Gamble from $156.00 to $157.00 and gave the company a sector perform rating in a research note on Wednesday, January 24th. Raymond James raised their target price on shares of Procter & Gamble from $170.00 to $175.00 and gave the company an outperform rating in a research note on Wednesday, January 24th. Finally, Barclays raised their target price on shares of Procter & Gamble from $165.00 to $168.00 and gave the company an overweight rating in a research note on Friday, April 12th. Seven research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat.com, Procter & Gamble currently has an average rating of Moderate Buy and a consensus target price of $168.53.

Procter & Gamble Stock Down 2.2 %

NYSE PG opened at $153.85 on Friday. The company has a 50 day moving average of $159.13 and a 200-day moving average of $152.83. The company has a market cap of $362.01 billion, a price-to-earnings ratio of 26.33, a PEG ratio of 3.21 and a beta of 0.44. The company has a current ratio of 0.64, a quick ratio of 0.44 and a debt-to-equity ratio of 0.48. Procter & Gamble has a 1-year low of $141.45 and a 1-year high of $163.14.

Procter & Gamble (NYSE:PG) last announced its quarterly earnings data on Friday, April 19th. The company reported $1.52 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.42 by $0.10. The business had revenue of $20.20 billion for the quarter, compared to analysts’ expectations of $20.43 billion. Procter & Gamble had a net margin of 17.60% and a return on equity of 34.04%. The firm’s quarterly revenue was up .6% compared to the same quarter last year. During the same period last year, the firm posted $1.37 earnings per share. On average, equities research analysts expect that Procter & Gamble will post 6.45 earnings per share for the current fiscal year.

Procter & Gamble Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 15th. Investors of record on Friday, April 19th will be paid a $1.0065 dividend. This represents a $4.03 dividend on an annualized basis and a yield of 2.62%. This is a boost from Procter & Gamble’s previous quarterly dividend of $0.94. The ex-dividend date of this dividend is Thursday, April 18th. Procter & Gamble’s dividend payout ratio (DPR) is 62.98%.

Insiders Place Their Bets

In other Procter & Gamble news, CEO R. Alexandra Keith sold 776 shares of the business’s stock in a transaction on Monday, March 4th. The shares were sold at an average price of $158.11, for a total transaction of $122,693.36. Following the sale, the chief executive officer now owns 4,859 shares of the company’s stock, valued at $768,256.49. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other Procter & Gamble news, CEO R. Alexandra Keith sold 776 shares of the business’s stock in a transaction on Monday, March 4th. The shares were sold at an average price of $158.11, for a total transaction of $122,693.36. Following the sale, the chief executive officer now owns 4,859 shares of the company’s stock, valued at $768,256.49. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Marc S. Pritchard sold 101,704 shares of the business’s stock in a transaction 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 sale, the insider now directly owns 163,428 shares in the company, valued at approximately $25,097,637.96. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 279,063 shares of company stock valued at $43,187,745. 0.17% of the stock is currently owned by insiders.

Institutional Trading of Procter & Gamble

Institutional investors have recently modified their holdings of the business. Davis Investment Partners LLC bought a new stake in shares of Procter & Gamble in the fourth quarter worth $223,000. Private Capital Management LLC bought a new stake in shares of Procter & Gamble in the second quarter worth $221,000. GSA Capital Partners LLP bought a new stake in shares of Procter & Gamble in the third quarter worth $220,000. Demars Financial Group LLC bought a new stake in shares of Procter & Gamble in the fourth quarter worth $220,000. Finally, Legacy Financial Group Inc. acquired a new position in Procter & Gamble in the fourth quarter valued at $208,000. Institutional investors own 65.77% of the company’s stock.

Procter & Gamble Company Profile

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.