Wall Street analysts expect that Procter & Gamble (NYSE:PG) will report $16.19 billion in sales for the current fiscal quarter, Zacks Investment Research reports. Eight analysts have made estimates for Procter & Gamble’s earnings, with the highest sales estimate coming in at $16.43 billion and the lowest estimate coming in at $16.06 billion. Procter & Gamble reported sales of $15.61 billion in the same quarter last year, which indicates a positive year over year growth rate of 3.7%. The business is scheduled to issue its next quarterly earnings results before the market opens on Friday, April 20th.
According to Zacks, analysts expect that Procter & Gamble will report full-year sales of $66.95 billion for the current fiscal year, with estimates ranging from $66.63 billion to $67.24 billion. For the next financial year, analysts forecast that the firm will report sales of $68.94 billion per share, with estimates ranging from $68.28 billion to $69.71 billion. Zacks Investment Research’s sales calculations are an average based on a survey of analysts that follow Procter & Gamble.
Procter & Gamble (NYSE:PG) last posted its quarterly earnings results on Friday, April 20th. The company reported $1.00 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.01 by ($0.01). Procter & Gamble had a net margin of 15.34% and a return on equity of 20.66%. The company had revenue of $16.28 billion for the quarter, compared to analyst estimates of $16.22 billion. During the same quarter in the previous year, the business posted $0.96 earnings per share. Procter & Gamble’s revenue was up 4.3% on a year-over-year basis.
A number of brokerages have recently weighed in on PG. Zacks Investment Research raised shares of Procter & Gamble from a “hold” rating to a “buy” rating and set a $100.00 price objective for the company in a research note on Tuesday, January 16th. Bank of America dropped their price objective on shares of Procter & Gamble from $100.00 to $90.00 and set a “buy” rating for the company in a research note on Thursday, April 12th. Jefferies Group reissued a “buy” rating and set a $90.00 price objective on shares of Procter & Gamble in a research note on Thursday. Morgan Stanley raised their price objective on shares of Procter & Gamble from $90.00 to $92.00 and gave the stock an “equal weight” rating in a research note on Thursday, January 25th. Finally, Barclays set a $84.00 price objective on shares of Procter & Gamble and gave the stock a “hold” rating in a research note on Thursday, March 15th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. Procter & Gamble presently has an average rating of “Hold” and a consensus target price of $84.85.
In other news, insider Marylynn Fergusonmchugh sold 2,353 shares of the business’s stock in a transaction on Thursday, March 1st. The shares were sold at an average price of $78.59, for a total transaction of $184,922.27. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Vice Chairman Jon R. Moeller sold 3,252 shares of the business’s stock in a transaction on Thursday, March 1st. The shares were sold at an average price of $78.59, for a total transaction of $255,574.68. The disclosure for this sale can be found here. Insiders sold a total of 114,011 shares of company stock valued at $9,710,976 over the last ninety days. 0.35% of the stock is owned by corporate insiders.
Several hedge funds and other institutional investors have recently made changes to their positions in PG. Beach Investment Management LLC. acquired a new stake in Procter & Gamble during the second quarter valued at approximately $6,942,000. RiverPoint Capital Management LLC lifted its stake in Procter & Gamble by 1.1% during the second quarter. RiverPoint Capital Management LLC now owns 296,885 shares of the company’s stock valued at $25,874,000 after purchasing an additional 3,286 shares during the last quarter. Alethea Capital Management LLC lifted its stake in Procter & Gamble by 6.2% during the second quarter. Alethea Capital Management LLC now owns 6,000 shares of the company’s stock valued at $522,000 after purchasing an additional 350 shares during the last quarter. Ifrah Financial Services Inc. acquired a new stake in Procter & Gamble during the second quarter valued at approximately $249,000. Finally, Intersect Capital LLC lifted its stake in Procter & Gamble by 47.2% during the second quarter. Intersect Capital LLC now owns 45,142 shares of the company’s stock valued at $3,934,000 after purchasing an additional 14,470 shares during the last quarter. 60.95% of the stock is owned by institutional investors.
Shares of PG stock traded down $3.04 during midday trading on Monday, reaching $75.16. 10,625,456 shares of the company traded hands, compared to its average volume of 9,821,315. Procter & Gamble has a 1-year low of $74.20 and a 1-year high of $94.67. The company has a current ratio of 0.94, a quick ratio of 0.79 and a debt-to-equity ratio of 0.41. The company has a market cap of $197,722.34, a price-to-earnings ratio of 19.17, a PEG ratio of 2.48 and a beta of 0.57.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, May 15th. Shareholders of record on Friday, April 20th will be paid a $0.7172 dividend. This is a boost from Procter & Gamble’s previous quarterly dividend of $0.69. This represents a $2.87 annualized dividend and a yield of 3.82%. The ex-dividend date of this dividend is Thursday, April 19th. Procter & Gamble’s payout ratio is presently 70.41%.
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About Procter & Gamble
The Procter & Gamble Company provides branded consumer packaged goods to consumers in the United States, Canada, Puerto Rico, Europe, the Asia Pacific, Greater China, Latin America, India, the Middle East, and Africa. The company's Beauty segment offers hair care products, including conditioners, shampoos, styling aids, and treatments; and skin and personal care products, such as antiperspirant and deodorant, personal cleansing, and skin care products.
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