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

Procter & Gamble (NYSE:PGGet Free Report) released its earnings results on Friday. The company reported $1.52 earnings per share 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 firm had revenue of $20.20 billion for the quarter, compared to analyst estimates of $20.43 billion. During the same period in the prior year, the firm earned $1.37 earnings per share. The business’s quarterly 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 Price Performance

Shares of NYSE:PG traded up $0.85 during midday trading on Friday, hitting $158.14. 12,034,186 shares of the stock were exchanged, compared to its average volume of 6,329,782. The company has a 50 day moving average price of $159.14 and a 200-day moving average price of $152.97. Procter & Gamble has a twelve month low of $141.45 and a twelve month high of $163.14. The stock has a market cap of $372.11 billion, a P/E ratio of 25.84, a PEG ratio of 3.23 and a beta of 0.44. The company has a current ratio of 0.64, a quick ratio of 0.44 and a debt-to-equity ratio of 0.48.

Procter & Gamble Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, May 15th. Stockholders of record on Friday, April 19th will be paid a dividend of $1.0065 per share. This represents a $4.03 annualized dividend and a dividend yield of 2.55%. The ex-dividend date of this dividend is Thursday, April 18th. This is an increase from Procter & Gamble’s previous quarterly dividend of $0.94. Procter & Gamble’s payout ratio is 65.85%.

Wall Street Analyst Weigh In

PG has been the topic of several recent analyst reports. Truist Financial upgraded shares of Procter & Gamble from a “hold” rating to a “buy” rating and increased their price target for the company from $160.00 to $175.00 in a research note on Monday, March 11th. StockNews.com lowered shares of Procter & Gamble from a “buy” rating to a “hold” rating in a research note on Thursday, February 29th. Stifel Nicolaus increased 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. Deutsche Bank Aktiengesellschaft increased their price objective on Procter & Gamble from $170.00 to $172.00 and gave the company a “buy” rating in a report on Wednesday, April 3rd. Finally, Wells Fargo & Company increased their price objective on Procter & Gamble from $162.00 to $170.00 and gave the company an “overweight” rating in a report on Wednesday, January 24th. Seven investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to MarketBeat, Procter & Gamble has an average rating of “Moderate Buy” and a consensus target price of $168.53.

Get Our Latest Research Report on PG

Insider Activity at Procter & Gamble

In other news, CEO Ma. Fatima Francisco sold 74,443 shares of the company’s stock in a transaction dated Wednesday, January 24th. The shares were sold at an average price of $153.30, for a total transaction of $11,412,111.90. Following the completion of the transaction, the chief executive officer now owns 973 shares of the company’s stock, valued at approximately $149,160.90. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other Procter & Gamble news, CEO Gary A. Coombe sold 22,000 shares of the company’s stock in a transaction that occurred on Friday, February 23rd. The stock was sold at an average price of $161.32, for a total value of $3,549,040.00. Following the completion of the transaction, the chief executive officer now owns 36,845 shares in the company, valued at approximately $5,943,835.40. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Ma. Fatima Francisco sold 74,443 shares of the company’s stock in a transaction that occurred on Wednesday, January 24th. The stock was sold at an average price of $153.30, for a total value of $11,412,111.90. Following the completion of the transaction, the chief executive officer now owns 973 shares of the company’s stock, valued at approximately $149,160.90. The disclosure for this sale can be found here. In the last quarter, insiders sold 279,063 shares of company stock valued at $43,187,745. 0.17% of the stock is owned by insiders.

Hedge Funds Weigh In On Procter & Gamble

A number of institutional investors and hedge funds have recently bought and sold shares of PG. Wescott Financial Advisory Group LLC raised its stake in Procter & Gamble by 0.3% in the first quarter. Wescott Financial Advisory Group LLC now owns 22,385 shares of the company’s stock worth $3,420,000 after buying an additional 72 shares in the last quarter. First Capital Advisors Group LLC. raised its stake in Procter & Gamble by 0.3% in the first quarter. First Capital Advisors Group LLC. now owns 24,968 shares of the company’s stock worth $3,712,000 after buying an additional 74 shares in the last quarter. Smith Anglin Financial LLC raised its stake in Procter & Gamble by 1.0% in the fourth quarter. Smith Anglin Financial LLC now owns 7,790 shares of the company’s stock worth $1,181,000 after buying an additional 75 shares in the last quarter. Objective Capital Management LLC raised its stake in Procter & Gamble by 1.9% in the second quarter. Objective Capital Management LLC now owns 4,391 shares of the company’s stock worth $666,000 after buying an additional 81 shares in the last quarter. Finally, Holderness Investments Co. raised its stake in Procter & Gamble by 0.4% in the second quarter. Holderness Investments Co. now owns 24,618 shares of the company’s stock worth $3,736,000 after buying an additional 96 shares in the last quarter. Hedge funds and other institutional investors own 65.77% of the company’s stock.

Procter & Gamble Company Profile

(Get Free Report)

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.

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Earnings History for Procter & Gamble (NYSE:PG)

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