Procter & Gamble (NYSE:PG) Updates FY 2024 Earnings Guidance

Procter & Gamble (NYSE:PG) issued an update on its FY 2024 earnings guidance on Friday morning. The company provided earnings per share guidance of 6.490-6.550 for the period, compared to the consensus earnings per share estimate of 6.450. The company issued revenue guidance of $83.6 billion-$85.3 billion, compared to the consensus revenue estimate of $84.7 billion.

Procter & Gamble Trading Up 0.5 %

Shares of NYSE PG opened at $158.14 on Monday. The business’s 50 day moving average price is $159.14 and its 200-day moving average price is $153.02. The company has a market cap of $372.11 billion, a price-to-earnings ratio of 25.84, a PEG ratio of 3.19 and a beta of 0.44. Procter & Gamble has a fifty-two week low of $141.45 and a fifty-two week high of $163.14. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.48 and a current ratio of 0.69.

Procter & Gamble (NYSE:PG) last released its quarterly earnings data on Friday, April 19th. The company reported $1.52 EPS for the quarter, topping the consensus estimate of $1.42 by $0.10. The company had revenue of $20.20 billion for the quarter, compared to the consensus estimate of $20.43 billion. Procter & Gamble had a return on equity of 33.77% and a net margin of 18.00%. Procter & Gamble’s quarterly revenue was up .6% on a year-over-year basis. During the same period last year, the business posted $1.37 EPS. On average, sell-side analysts expect that Procter & Gamble will post 6.53 earnings per share for the current year.

Procter & Gamble Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 15th. Shareholders of record on Friday, April 19th will be issued a dividend of $1.0065 per share. This is an increase 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 is Thursday, April 18th. Procter & Gamble’s dividend payout ratio (DPR) is presently 65.85%.

Analyst Ratings Changes

PG has been the topic of several research reports. Royal Bank of Canada raised their price objective on Procter & Gamble from $156.00 to $157.00 and gave the stock a sector perform 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. Wells Fargo & Company lifted their price target on Procter & Gamble from $162.00 to $170.00 and gave the company an overweight rating in a report on Wednesday, January 24th. Raymond James lifted 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. Finally, Stifel Nicolaus lifted 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. Seven investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat, Procter & Gamble presently has a consensus rating of Moderate Buy and a consensus price target of $168.53.

Insiders Place Their Bets

In other Procter & Gamble news, CEO Gary A. Coombe sold 22,000 shares of Procter & Gamble stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of $161.32, for a total transaction of $3,549,040.00. Following the completion of the sale, the chief executive officer now owns 36,845 shares of the company’s stock, valued at approximately $5,943,835.40. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other Procter & Gamble news, insider Susan Street Whaley sold 3,865 shares of Procter & Gamble stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of $160.60, for a total transaction of $620,719.00. Following the completion of the transaction, the insider now owns 11,886 shares in the company, valued at approximately $1,908,891.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Gary A. Coombe sold 22,000 shares of Procter & Gamble stock in a transaction dated 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 transaction, the chief executive officer now owns 36,845 shares of the company’s stock, valued at approximately $5,943,835.40. The disclosure for this sale can be found here. In the last 90 days, insiders sold 279,063 shares of company stock valued at $43,187,745. 0.17% of the stock is owned by company insiders.

Hedge Funds Weigh In On Procter & Gamble

A number of institutional investors have recently modified their holdings of PG. Wescott Financial Advisory Group LLC boosted its stake in Procter & Gamble by 0.3% during the 1st quarter. Wescott Financial Advisory Group LLC now owns 22,385 shares of the company’s stock valued at $3,420,000 after purchasing an additional 72 shares during the period. First Capital Advisors Group LLC. boosted its stake in Procter & Gamble by 0.3% during the 1st quarter. First Capital Advisors Group LLC. now owns 24,968 shares of the company’s stock valued at $3,712,000 after purchasing an additional 74 shares during the period. Smith Anglin Financial LLC boosted its stake in Procter & Gamble by 1.0% during the 4th quarter. Smith Anglin Financial LLC now owns 7,790 shares of the company’s stock valued at $1,181,000 after purchasing an additional 75 shares during the period. Objective Capital Management LLC boosted its stake in Procter & Gamble by 1.9% during the 2nd quarter. Objective Capital Management LLC now owns 4,391 shares of the company’s stock valued at $666,000 after purchasing an additional 81 shares during the period. Finally, Holderness Investments Co. boosted its stake in Procter & Gamble by 0.4% during the 2nd quarter. Holderness Investments Co. now owns 24,618 shares of the company’s stock valued at $3,736,000 after purchasing an additional 96 shares during the period. Hedge funds and other 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.