Research Analysts Issue Forecasts for The Procter & Gamble Company’s Q3 2023 Earnings (NYSE:PG)

The Procter & Gamble Company (NYSE:PGGet Rating) – Jefferies Financial Group dropped their Q3 2023 earnings per share (EPS) estimates for shares of Procter & Gamble in a note issued to investors on Thursday, January 19th. Jefferies Financial Group analyst K. Grundy now expects that the company will post earnings per share of $1.31 for the quarter, down from their prior forecast of $1.36. The consensus estimate for Procter & Gamble’s current full-year earnings is $5.84 per share. Jefferies Financial Group also issued estimates for Procter & Gamble’s Q4 2023 earnings at $1.39 EPS, FY2024 earnings at $6.50 EPS and FY2025 earnings at $7.14 EPS.

Procter & Gamble (NYSE:PGGet Rating) last announced its earnings results on Thursday, January 19th. The company reported $1.59 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.58 by $0.01. Procter & Gamble had a return on equity of 31.88% and a net margin of 17.79%. The firm had revenue of $20.77 billion for the quarter, compared to analyst estimates of $20.75 billion. During the same quarter last year, the firm posted $1.66 EPS. The business’s revenue was down .9% on a year-over-year basis.

Other research analysts have also issued research reports about the company. Deutsche Bank Aktiengesellschaft raised their price objective on Procter & Gamble from $156.00 to $162.00 and gave the company a “buy” rating in a report on Tuesday, December 6th. Raymond James raised their price objective on Procter & Gamble from $165.00 to $170.00 and gave the company an “outperform” rating in a report on Friday, January 13th. Evercore ISI decreased their price objective on Procter & Gamble to $145.00 in a report on Thursday, October 20th. Morgan Stanley decreased their price objective on Procter & Gamble from $177.00 to $160.00 and set an “overweight” rating on the stock in a report on Tuesday, October 4th. Finally, Stifel Nicolaus raised their price objective on Procter & Gamble from $139.00 to $147.00 and gave the company a “hold” rating in a report on Friday. Five research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $152.07.

Procter & Gamble Trading Up 0.4 %

Shares of NYSE:PG opened at $142.97 on Monday. Procter & Gamble has a 1 year low of $122.18 and a 1 year high of $165.35. The firm has a market capitalization of $341.05 billion, a price-to-earnings ratio of 25.08, a price-to-earnings-growth ratio of 4.09 and a beta of 0.42. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.56 and a quick ratio of 0.41. The business’s 50 day moving average price is $149.11 and its 200-day moving average price is $142.05.

Procter & Gamble Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, February 15th. Stockholders of record on Friday, January 20th will be issued a dividend of $0.9133 per share. The ex-dividend date of this dividend is Thursday, January 19th. This represents a $3.65 annualized dividend and a dividend yield of 2.56%. Procter & Gamble’s dividend payout ratio is presently 64.04%.

Insider Buying and Selling

In related news, CEO Sundar G. Raman sold 9,922 shares of the firm’s stock in a transaction dated Monday, November 21st. The stock was sold at an average price of $145.00, for a total transaction of $1,438,690.00. Following the completion of the sale, the chief executive officer now directly owns 12,312 shares of the company’s stock, valued at approximately $1,785,240. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CEO Sundar G. Raman sold 14,922 shares of the firm’s stock in a transaction dated Thursday, November 10th. The stock was sold at an average price of $139.60, for a total transaction of $2,083,111.20. Following the completion of the sale, the chief executive officer now directly owns 12,310 shares of the company’s stock, valued at approximately $1,718,476. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Sundar G. Raman sold 9,922 shares of the firm’s stock in a transaction dated Monday, November 21st. The stock was sold at an average price of $145.00, for a total value of $1,438,690.00. Following the sale, the chief executive officer now directly owns 12,312 shares of the company’s stock, valued at $1,785,240. The disclosure for this sale can be found here. In the last ninety days, insiders sold 58,812 shares of company stock valued at $8,190,363. 0.26% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Procter & Gamble

Several institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. grew its position in Procter & Gamble by 1.0% in the 3rd quarter. Vanguard Group Inc. now owns 224,570,227 shares of the company’s stock valued at $28,351,991,000 after acquiring an additional 2,197,165 shares in the last quarter. BlackRock Inc. grew its position in shares of Procter & Gamble by 1.1% during the third quarter. BlackRock Inc. now owns 161,904,833 shares of the company’s stock worth $20,440,487,000 after buying an additional 1,811,085 shares in the last quarter. State Street Corp grew its position in shares of Procter & Gamble by 0.8% during the third quarter. State Street Corp now owns 104,749,256 shares of the company’s stock worth $13,224,594,000 after buying an additional 797,652 shares in the last quarter. Legal & General Group Plc grew its position in shares of Procter & Gamble by 3.6% during the second quarter. Legal & General Group Plc now owns 18,536,142 shares of the company’s stock worth $2,665,327,000 after buying an additional 637,095 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD grew its position in shares of Procter & Gamble by 22.6% during the second quarter. Price T Rowe Associates Inc. MD now owns 16,567,690 shares of the company’s stock worth $2,382,268,000 after buying an additional 3,054,844 shares in the last quarter. 62.13% of the stock is owned by institutional investors and hedge funds.

About Procter & Gamble

(Get Rating)

Procter & Gamble Co engages in the provision of branded consumer packaged goods. It operates through the following segments: Beauty, Grooming, Health Care, Fabric & Home Care, and Baby, Feminine & Family Care. The Beauty segment offers hair, skin, and personal care. The Grooming segment consists of shave care like female and male blades and razors, pre and post shave products, and appliances.

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Earnings History and Estimates for Procter & Gamble (NYSE:PG)

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