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

Procter & Gamble (NYSE:PG) issued its quarterly earnings results on Friday. The company reported $1.52 EPS for the quarter, topping analysts’ consensus estimates of $1.42 by $0.10, Briefing.com reports. Procter & Gamble had a net margin of 17.60% and a return on equity of 34.04%. The company had revenue of $20.20 billion for the quarter, compared to analyst estimates of $20.43 billion. During the same quarter in the previous year, the business earned $1.37 earnings per share. Procter & Gamble’s revenue was up .6% compared to the same quarter last year. Procter & Gamble updated its FY 2024 guidance to 6.490-6.550 EPS.

Procter & Gamble Stock Up 0.5 %

PG opened at $158.14 on Friday. 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 stock has a market cap of $372.11 billion, a price-to-earnings ratio of 25.84, a PEG ratio of 3.23 and a beta of 0.44. Procter & Gamble has a twelve month low of $141.45 and a twelve month high of $163.14. The company’s 50-day moving average price is $159.14 and its two-hundred day moving average price is $152.97.

Procter & Gamble Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, May 15th. Shareholders 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 2.55%. This is a boost from Procter & Gamble’s previous quarterly dividend of $0.94. The ex-dividend date is Thursday, April 18th. Procter & Gamble’s payout ratio is presently 65.85%.

Wall Street Analyst Weigh In

PG has been the subject of several research analyst reports. Stifel Nicolaus lifted their price target on shares of Procter & Gamble from $155.00 to $157.00 and gave the company a “hold” rating in a research note on Wednesday, January 24th. Barclays lifted their price target 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. UBS Group lifted their price target on shares of Procter & Gamble from $172.00 to $178.00 and gave the company a “buy” rating in a research note on Wednesday, January 24th. Raymond James lifted their price target 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, Royal Bank of Canada boosted their target price on shares of Procter & Gamble from $156.00 to $157.00 and gave the stock a “sector perform” rating in a research report on Wednesday, January 24th. Seven investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $168.53.

Insider Activity

In other news, insider Susan Street Whaley sold 3,865 shares of the business’s stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of $160.60, for a total value of $620,719.00. Following the sale, the insider now owns 11,886 shares of the company’s stock, valued at $1,908,891.60. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, CEO Gary A. Coombe sold 22,000 shares of the business’s stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of $161.32, for a total value of $3,549,040.00. Following the sale, the chief executive officer now owns 36,845 shares of the company’s stock, valued at $5,943,835.40. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Susan Street Whaley sold 3,865 shares of the business’s stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of $160.60, for a total transaction of $620,719.00. Following the completion of the sale, the insider now directly owns 11,886 shares in the company, valued at approximately $1,908,891.60. The disclosure for this sale can be found here. Insiders have sold a total of 279,063 shares of company stock valued at $43,187,745 over the last quarter. Company insiders own 0.17% of the company’s stock.

Institutional Trading of Procter & Gamble

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Hobbs Group Advisors LLC bought a new stake in Procter & Gamble during the 4th quarter worth approximately $235,000. Aspect Partners LLC bought a new position in shares of Procter & Gamble in the 4th quarter worth $35,000. GSA Capital Partners LLP increased its holdings in shares of Procter & Gamble by 242.9% in the 4th quarter. GSA Capital Partners LLP now owns 5,167 shares of the company’s stock worth $757,000 after buying an additional 3,660 shares during the last quarter. Mercer Global Advisors Inc. ADV increased its holdings in shares of Procter & Gamble by 20.6% in the 4th quarter. Mercer Global Advisors Inc. ADV now owns 497,700 shares of the company’s stock worth $72,933,000 after buying an additional 84,888 shares during the last quarter. Finally, Mango Five Family Inc. bought a new position in shares of Procter & Gamble in the 4th quarter worth $940,000. 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.