Equities Analysts Boost Earnings Estimates for Procter & Gamble Co (NYSE:PG)

Equities Analysts Boost Earnings Estimates for Procter & Gamble Co (NYSE:PG)

Procter & Gamble Co (NYSE:PG) – Stock analysts at SunTrust Banks lifted their Q2 2020 EPS estimates for shares of Procter & Gamble in a research note issued to investors on Tuesday, April 23rd, Zacks Investment Research reports. SunTrust Banks analyst W. Chappell now forecasts that the company will post earnings of $1.34 per share for the quarter, up from their previous forecast of $1.30. SunTrust Banks has a “Hold” rating and a $95.00 price objective on the stock. SunTrust Banks also issued estimates for Procter & Gamble’s Q4 2020 earnings at $1.11 EPS.

PG has been the topic of a number of other reports. DZ Bank restated a “sell” rating on shares of Procter & Gamble in a report on Wednesday, April 24th. Morgan Stanley set a $111.00 price target on shares of Procter & Gamble and gave the company a “buy” rating in a report on Thursday, March 28th. Wells Fargo & Co reiterated a “hold” rating and issued a $91.00 target price on shares of Procter & Gamble in a research note on Wednesday, January 23rd. Zacks Investment Research cut shares of Procter & Gamble from a “buy” rating to a “hold” rating in a research note on Wednesday, January 16th. Finally, Credit Suisse Group assumed coverage on shares of Procter & Gamble in a research note on Wednesday, March 6th. They issued a “neutral” rating and a $100.00 target price for the company. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and eleven have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of $101.42.

NYSE:PG opened at $106.08 on Friday. Procter & Gamble has a fifty-two week low of $71.11 and a fifty-two week high of $107.20. The stock has a market capitalization of $267.43 billion, a PE ratio of 24.27, a PEG ratio of 3.42 and a beta of 0.39. The company has a current ratio of 0.79, a quick ratio of 0.60 and a debt-to-equity ratio of 0.39.
Procter & Gamble (NYSE:PG) last released its quarterly earnings results on Tuesday, April 23rd. The company reported $1.06 earnings per share for the quarter, beating analysts’ consensus estimates of $1.04 by $0.02. Procter & Gamble had a net margin of 16.44% and a return on equity of 21.61%. The business had revenue of $16.46 billion for the quarter, compared to analysts’ expectations of $16.37 billion. During the same period last year, the business earned $1.00 EPS. The company’s revenue was up 1.1% compared to the same quarter last year.

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, May 15th. Shareholders of record on Friday, April 19th will be given a dividend of $0.7459 per share. The ex-dividend date is Wednesday, April 17th. This is a positive change from Procter & Gamble’s previous quarterly dividend of $0.72. This represents a $2.98 dividend on an annualized basis and a yield of 2.81%. Procter & Gamble’s dividend payout ratio (DPR) is currently 70.62%.

In other Procter & Gamble news, insider Loic Tassel sold 5,000 shares of the firm’s stock in a transaction that occurred on Friday, May 3rd. The shares were sold at an average price of $106.00, for a total transaction of $530,000.00. Following the completion of the transaction, the insider now directly owns 23,753 shares of the company’s stock, valued at approximately $2,517,818. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Chairman David S. Taylor sold 23,673 shares of the firm’s stock in a transaction that occurred on Thursday, May 2nd. The stock was sold at an average price of $105.39, for a total transaction of $2,494,897.47. Following the transaction, the chairman now directly owns 249,761 shares of the company’s stock, valued at $26,322,311.79. The disclosure for this sale can be found here. Insiders have sold a total of 2,338,152 shares of company stock valued at $232,368,608 over the last three months. 1.84% of the stock is currently owned by insiders.

Institutional investors and hedge funds have recently bought and sold shares of the business. Courier Capital LLC increased its holdings in shares of Procter & Gamble by 2.9% during the 3rd quarter. Courier Capital LLC now owns 59,595 shares of the company’s stock valued at $4,960,000 after purchasing an additional 1,695 shares in the last quarter. Busey Trust CO increased its holdings in Procter & Gamble by 0.6% in the 3rd quarter. Busey Trust CO now owns 191,495 shares of the company’s stock worth $15,938,000 after acquiring an additional 1,129 shares in the last quarter. Amarillo National Bank increased its holdings in Procter & Gamble by 14.9% in the 3rd quarter. Amarillo National Bank now owns 8,128 shares of the company’s stock worth $676,000 after acquiring an additional 1,052 shares in the last quarter. Peoples Financial Services CORP. increased its holdings in Procter & Gamble by 7.4% in the 3rd quarter. Peoples Financial Services CORP. now owns 69,301 shares of the company’s stock worth $5,767,000 after acquiring an additional 4,775 shares in the last quarter. Finally, Chesley Taft & Associates LLC increased its holdings in Procter & Gamble by 3.4% in the 3rd quarter. Chesley Taft & Associates LLC now owns 46,991 shares of the company’s stock worth $3,911,000 after acquiring an additional 1,539 shares in the last quarter. 61.60% of the stock is owned by institutional investors.

About Procter & Gamble

The Procter & Gamble Company provides branded consumer packaged goods to consumers in North America, Europe, the Asia Pacific, Greater China, Latin America, India, the Middle East, and Africa. The company operates in five segments: Beauty; Grooming; health Care; fabric & Home Care; and Baby, Feminine & Family Care.

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