Procter & Gamble (NYSE:PG) Announces Earnings Results, Beats Estimates By $0.10 EPS

Procter & Gamble (NYSE:PG) announced its quarterly earnings results on Friday. The company reported $1.52 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.42 by $0.10, Briefing.com reports. The company had revenue of $20.20 billion for the quarter, compared to analysts’ expectations of $20.43 billion. Procter & Gamble had a net margin of 18.00% and a return on equity of 33.77%. Procter & Gamble’s revenue was up .6% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.37 EPS. Procter & Gamble updated its FY 2024 guidance to 6.490-6.550 EPS.

Procter & Gamble Price Performance

PG stock opened at $158.14 on Monday. The stock has a 50-day moving average price of $159.14 and a two-hundred day moving average price of $153.02. Procter & Gamble has a 12-month low of $141.45 and a 12-month high of $163.14. The company has a current ratio of 0.69, a quick ratio of 0.48 and a debt-to-equity ratio of 0.48. The company has a market cap of $372.11 billion, a PE ratio of 25.84, a price-to-earnings-growth ratio of 3.19 and a beta of 0.44.

Procter & Gamble Increases Dividend

The firm also recently announced 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 is a positive change from Procter & Gamble’s previous quarterly dividend of $0.94. This represents a $4.03 annualized dividend and a yield of 2.55%. The ex-dividend date of this dividend is Thursday, April 18th. Procter & Gamble’s dividend payout ratio is presently 65.85%.

Analyst Upgrades and Downgrades

A number of research firms have commented on PG. Truist Financial upgraded shares of Procter & Gamble from a “hold” rating to a “buy” rating and raised their target price for the stock from $160.00 to $175.00 in a research note on Monday, March 11th. Wells Fargo & Company lifted their target price on Procter & Gamble from $162.00 to $170.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 24th. Barclays boosted their target price on shares of Procter & Gamble from $165.00 to $168.00 and gave the stock an “overweight” rating in a report on Friday, April 12th. JPMorgan Chase & Co. dropped their price target on Procter & Gamble from $169.00 to $162.00 and set an “overweight” rating on the stock in a research note on Thursday, January 18th. Finally, The Goldman Sachs Group assumed coverage on Procter & Gamble in a research report on Friday, March 1st. They issued a “neutral” rating and a $168.00 target price on the stock. Seven analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat, Procter & Gamble currently has a consensus rating of “Moderate Buy” and an average price target of $168.53.

Insider Buying and Selling at Procter & Gamble

In related news, insider Susan Street Whaley sold 3,865 shares of the stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of $160.60, for a total value of $620,719.00. Following the completion of the transaction, the insider now owns 11,886 shares of the company’s stock, valued at $1,908,891.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, insider Susan Street Whaley sold 3,865 shares of the stock in a transaction that occurred on Friday, February 23rd. The stock was sold at an average price of $160.60, for a total transaction of $620,719.00. Following the sale, the insider now directly owns 11,886 shares in the company, valued at approximately $1,908,891.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO R. Alexandra Keith sold 776 shares of the stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $158.11, for a total value of $122,693.36. Following the completion of the transaction, the chief executive officer now directly owns 4,859 shares of the company’s stock, valued at $768,256.49. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 279,063 shares of company stock valued at $43,187,745. Company insiders own 0.17% of the company’s stock.

Institutional Trading of Procter & Gamble

Several hedge funds and other institutional investors have recently modified their holdings of the business. Aspect Partners LLC bought a new position in shares of Procter & Gamble in the fourth quarter worth about $35,000. Itau Unibanco Holding S.A. bought a new position in shares of Procter & Gamble in the second quarter worth about $50,000. MayTech Global Investments LLC bought a new position in shares of Procter & Gamble in the fourth quarter worth about $83,000. Fortis Capital Advisors LLC bought a new position in shares of Procter & Gamble in the fourth quarter worth about $109,000. Finally, Worth Asset Management LLC bought a new position in shares of Procter & Gamble in the first quarter worth about $111,000. Institutional investors and hedge funds 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.