Procter & Gamble (PG) to Release Quarterly Earnings on Friday

Procter & Gamble (NYSE:PG) will be issuing its quarterly earnings data before the market opens on Friday, April 19th. Analysts expect the company to announce earnings of $1.42 per share for the quarter. Procter & Gamble has set its FY 2024 guidance at 6.370-6.430 EPS.Parties interested in registering for the company’s conference call can do so using this link.

Procter & Gamble (NYSE:PG) last released its quarterly earnings data on Tuesday, January 23rd. The company reported $1.84 EPS for the quarter, topping analysts’ consensus estimates of $1.70 by $0.14. The business had revenue of $21.44 billion during the quarter, compared to the consensus estimate of $21.48 billion. Procter & Gamble had a return on equity of 34.04% and a net margin of 17.60%. The business’s revenue for the quarter was up 3.2% on a year-over-year basis. During the same period in the prior year, the firm posted $1.59 EPS. On average, analysts expect Procter & Gamble to post $6 EPS for the current fiscal year and $7 EPS for the next fiscal year.

Procter & Gamble Trading Down 0.9 %

PG stock opened at $155.82 on Friday. The company has a market cap of $366.65 billion, a price-to-earnings ratio of 26.10, a PEG ratio of 3.19 and a beta of 0.44. The company has a quick ratio of 0.44, a current ratio of 0.64 and a debt-to-equity ratio of 0.48. The business has a fifty day simple moving average of $159.38 and a 200-day simple moving average of $152.54. Procter & Gamble has a 52 week low of $141.45 and a 52 week high of $163.14.

Procter & Gamble Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 15th. Stockholders of record on Friday, April 19th will be issued a dividend of $1.0065 per share. This represents a $4.03 dividend on an annualized basis and a dividend yield of 2.58%. This is an increase 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 is presently 62.98%.

Insider Transactions at Procter & Gamble

In other Procter & Gamble news, insider Marc S. Pritchard sold 101,704 shares of the firm’s stock in a transaction dated Wednesday, January 24th. The shares were sold at an average price of $153.57, for a total value of $15,618,683.28. Following the transaction, the insider now owns 163,428 shares of the company’s stock, valued at $25,097,637.96. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Procter & Gamble news, insider Marc S. Pritchard sold 101,704 shares of the firm’s stock in a transaction that occurred on Wednesday, January 24th. The shares were sold at an average price of $153.57, for a total value of $15,618,683.28. Following the sale, the insider now owns 163,428 shares in the company, valued at $25,097,637.96. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Shailesh Jejurikar sold 31,275 shares of the firm’s stock in a transaction that occurred on Thursday, January 25th. The shares were sold at an average price of $154.90, for a total transaction of $4,844,497.50. Following the completion of the sale, the chief operating officer now owns 9,623 shares in the company, valued at approximately $1,490,602.70. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 279,063 shares of company stock valued at $43,187,745. Insiders own 0.17% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Moneta Group Investment Advisors LLC boosted its holdings in Procter & Gamble by 96,526.4% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 38,535,557 shares of the company’s stock worth $5,840,449,000 after buying an additional 38,495,676 shares in the last quarter. Norges Bank bought a new stake in Procter & Gamble during the fourth quarter worth approximately $3,752,321,000. Morgan Stanley boosted its holdings in Procter & Gamble by 12.6% during the fourth quarter. Morgan Stanley now owns 44,320,700 shares of the company’s stock worth $6,717,246,000 after buying an additional 4,959,527 shares in the last quarter. Legal & General Group Plc boosted its holdings in Procter & Gamble by 27.3% during the fourth quarter. Legal & General Group Plc now owns 20,619,426 shares of the company’s stock worth $3,021,573,000 after buying an additional 4,426,269 shares in the last quarter. Finally, Barclays PLC boosted its stake in Procter & Gamble by 118.1% in the 2nd quarter. Barclays PLC now owns 6,334,342 shares of the company’s stock worth $961,170,000 after purchasing an additional 3,429,929 shares during the period. Institutional investors and hedge funds own 65.77% of the company’s stock.

Analyst Upgrades and Downgrades

PG has been the subject of several recent research reports. Barclays increased their price target on Procter & Gamble from $160.00 to $165.00 and gave the company an “overweight” rating in a report on Thursday, January 25th. Stifel Nicolaus increased their price target on Procter & Gamble from $155.00 to $157.00 and gave the company a “hold” rating in a report on Wednesday, January 24th. Raymond James increased their price target on Procter & Gamble from $170.00 to $175.00 and gave the company an “outperform” rating in a report on Wednesday, January 24th. StockNews.com downgraded Procter & Gamble from a “buy” rating to a “hold” rating in a report on Thursday, February 29th. Finally, The Goldman Sachs Group started coverage on Procter & Gamble in a report on Friday, March 1st. They issued a “neutral” rating and a $168.00 price target for the company. Seven equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat.com, Procter & Gamble has an average rating of “Moderate Buy” and an average target price of $168.35.

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.