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

Procter & Gamble (NYSE:PG) issued an update on its FY 2024 earnings guidance on Friday morning. The company provided EPS guidance of 6.490-6.550 for the period, compared to the consensus EPS 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 Stock Performance

NYSE PG opened at $158.02 on Friday. The stock has a market capitalization of $371.82 billion, a PE ratio of 26.47, a P/E/G ratio of 3.22 and a beta of 0.44. The business has a 50 day simple moving average of $159.14 and a two-hundred day simple moving average of $152.92. The company has a debt-to-equity ratio of 0.48, a current ratio of 0.64 and a quick ratio of 0.44. Procter & Gamble has a 1-year low of $141.45 and a 1-year high of $163.14.

Procter & Gamble (NYSE:PG) last announced its earnings results on Friday, April 19th. The company reported $1.52 EPS for the quarter, topping analysts’ consensus estimates of $1.42 by $0.10. Procter & Gamble had a return on equity of 34.04% and a net margin of 17.60%. The firm had revenue of $20.20 billion during the quarter, compared to analysts’ expectations of $20.43 billion. During the same quarter in the previous year, the business earned $1.37 EPS. The company’s quarterly revenue was up .6% on a year-over-year basis. On average, research analysts predict that Procter & Gamble will post 6.45 EPS for the current fiscal year.

Procter & Gamble Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 15th. Shareholders of record on Friday, April 19th will be given a dividend of $1.0065 per share. The ex-dividend date is Thursday, April 18th. This is a positive change from Procter & Gamble’s previous quarterly dividend of $0.94. This represents a $4.03 dividend on an annualized basis and a yield of 2.55%. Procter & Gamble’s payout ratio is 67.50%.

Analysts Set New Price Targets

Several brokerages recently weighed in on PG. Deutsche Bank Aktiengesellschaft boosted their target price on Procter & Gamble from $170.00 to $172.00 and gave the stock a buy rating in a research note on Wednesday, April 3rd. 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. UBS Group upped their price target on Procter & Gamble from $172.00 to $178.00 and gave the stock a buy rating in a report on Wednesday, January 24th. Wells Fargo & Company upped their price target on Procter & Gamble from $162.00 to $170.00 and gave the company an overweight rating in a research report on Wednesday, January 24th. Finally, Stifel Nicolaus upped their price target on Procter & Gamble from $155.00 to $157.00 and gave the company a hold rating in a research report on Wednesday, January 24th. Seven investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of Moderate Buy and an average price target of $168.53.

Insider Buying and Selling at Procter & Gamble

In other news, CEO R. Alexandra Keith sold 776 shares of Procter & Gamble stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $158.11, for a total transaction of $122,693.36. Following the completion of the sale, the chief executive officer now directly owns 4,859 shares in the company, valued at approximately $768,256.49. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, insider Marc S. Pritchard sold 101,704 shares of Procter & Gamble stock in a transaction that occurred on Wednesday, January 24th. The stock was sold at an average price of $153.57, for a total transaction of $15,618,683.28. Following the completion of the transaction, the insider now directly owns 163,428 shares in the company, valued at approximately $25,097,637.96. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO R. Alexandra Keith sold 776 shares of Procter & Gamble stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $158.11, for a total transaction of $122,693.36. Following the completion of the sale, 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. In the last 90 days, insiders have sold 279,063 shares of company stock valued at $43,187,745. 0.17% of the stock is owned by corporate insiders.

Institutional Trading of Procter & Gamble

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Aspect Partners LLC purchased a new stake in shares of Procter & Gamble during the 4th quarter valued at $35,000. Itau Unibanco Holding S.A. purchased a new stake in shares of Procter & Gamble during the 2nd quarter valued at $50,000. MayTech Global Investments LLC purchased a new stake in shares of Procter & Gamble during the 4th quarter valued at $83,000. Fortis Capital Advisors LLC purchased a new stake in shares of Procter & Gamble during the 4th quarter valued at $109,000. Finally, Worth Asset Management LLC purchased a new stake in shares of Procter & Gamble during the 1st quarter valued at $111,000. 65.77% of the stock is owned by hedge funds and other institutional investors.

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.