Procter & Gamble (NYSE:PG) Issues Earnings Results, Beats Estimates By $0.04 EPS

Procter & Gamble (NYSE:PGGet Rating) posted its earnings results on Wednesday. The company reported $1.33 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.29 by $0.04, RTT News reports. The company had revenue of $19.38 billion for the quarter, compared to analysts’ expectations of $18.69 billion. Procter & Gamble had a return on equity of 31.99% and a net margin of 18.52%. The firm’s quarterly revenue was up 7.0% compared to the same quarter last year. During the same period last year, the business posted $1.26 earnings per share. Procter & Gamble updated its FY 2022 guidance to $5.830-$6.000 EPS.

Shares of PG opened at $159.41 on Wednesday. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.50 and a current ratio of 0.67. The firm has a market cap of $385.76 billion, a PE ratio of 28.16, a PEG ratio of 4.26 and a beta of 0.46. The firm’s 50 day moving average price is $154.36 and its 200 day moving average price is $153.08. Procter & Gamble has a twelve month low of $130.29 and a twelve month high of $165.35.

The company also recently declared a quarterly dividend, which will be paid on Monday, May 16th. Investors of record on Friday, April 22nd will be paid a $0.9133 dividend. This is a boost from Procter & Gamble’s previous quarterly dividend of $0.87. The ex-dividend date is Thursday, April 21st. This represents a $3.65 annualized dividend and a dividend yield of 2.29%. Procter & Gamble’s payout ratio is presently 61.48%.

PG has been the subject of a number of analyst reports. Morgan Stanley boosted their target price on shares of Procter & Gamble from $161.00 to $177.00 and gave the company an “overweight” rating in a research note on Thursday, January 20th. Truist Financial upgraded Procter & Gamble from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $165.00 to $175.00 in a research report on Tuesday, March 22nd. Barclays cut their target price on Procter & Gamble from $178.00 to $167.00 and set an “overweight” rating on the stock in a research note on Friday, April 1st. Raymond James started coverage on Procter & Gamble in a research note on Thursday, April 7th. They issued an “outperform” rating and a $175.00 price target for the company. Finally, JPMorgan Chase & Co. lowered shares of Procter & Gamble from an “overweight” rating to a “neutral” rating and reduced their price target for the stock from $181.00 to $165.00 in a research note on Wednesday, March 30th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat, Procter & Gamble has an average rating of “Hold” and an average target price of $161.60.

In other Procter & Gamble news, insider Deborah P. Majoras sold 1,927 shares of the company’s stock in a transaction that occurred on Tuesday, March 1st. The stock was sold at an average price of $153.51, for a total transaction of $295,813.77. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Andre Schulten sold 1,335 shares of the business’s stock in a transaction on Tuesday, March 1st. The stock was sold at an average price of $153.51, for a total transaction of $204,935.85. The disclosure for this sale can be found here. Insiders sold 566,796 shares of company stock valued at $91,098,906 over the last quarter. Corporate insiders own 0.51% of the company’s stock.

A number of hedge funds have recently added to or reduced their stakes in the business. MayTech Global Investments LLC boosted its stake in Procter & Gamble by 507.2% during the 4th quarter. MayTech Global Investments LLC now owns 929 shares of the company’s stock valued at $152,000 after purchasing an additional 776 shares during the period. Lombard Odier Asset Management USA Corp bought a new stake in shares of Procter & Gamble in the fourth quarter valued at approximately $281,000. OLD Mission Capital LLC acquired a new stake in shares of Procter & Gamble in the third quarter worth $349,000. EverSource Wealth Advisors LLC acquired a new position in Procter & Gamble during the 4th quarter valued at $986,000. Finally, Keudell Morrison Wealth Management boosted its holdings in Procter & Gamble by 2.4% in the 3rd quarter. Keudell Morrison Wealth Management now owns 9,450 shares of the company’s stock valued at $1,321,000 after purchasing an additional 219 shares during the period. Institutional investors own 63.05% of the company’s stock.

About Procter & Gamble (Get Rating)

Procter & Gamble Co engages in the provision of branded consumer packaged goods. It operates through the following segments: Beauty, Grooming, Health Care, Fabric & Home Care, and Baby, Feminine & Family Care. The Beauty segment offers hair, skin, and personal care. The Grooming segment consists of shave care like female and male blades and razors, pre and post shave products, and appliances.

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Earnings History for Procter & Gamble (NYSE:PG)

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