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

Procter & Gamble (NYSE:PG) updated its FY 2024 earnings guidance on Friday. 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

Shares of Procter & Gamble stock opened at $157.16 on Friday. The company has a debt-to-equity ratio of 0.48, a current ratio of 0.64 and a quick ratio of 0.44. The firm has a market cap of $369.80 billion, a price-to-earnings ratio of 26.33, a price-to-earnings-growth ratio of 3.21 and a beta of 0.44. Procter & Gamble has a one year low of $141.45 and a one year high of $163.14. The stock’s 50-day moving average is $159.13 and its 200-day moving average is $152.83.

Procter & Gamble (NYSE:PG) last released its quarterly earnings results on Tuesday, January 23rd. The company reported $1.84 earnings per share for the quarter, topping analysts’ consensus estimates of $1.70 by $0.14. Procter & Gamble had a return on equity of 34.04% and a net margin of 17.60%. The firm had revenue of $21.44 billion during the quarter, compared to the consensus estimate of $21.48 billion. During the same quarter in the prior year, the firm posted $1.59 EPS. The business’s revenue was up 3.2% on a year-over-year basis. Equities analysts predict that Procter & Gamble will post 6.45 earnings per share for the current fiscal year.

Procter & Gamble Increases Dividend

The firm also recently disclosed 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 dividend on an annualized basis and a dividend yield of 2.56%. This is an increase from Procter & Gamble’s previous quarterly dividend of $0.94. The ex-dividend date is Thursday, April 18th. Procter & Gamble’s dividend payout ratio is currently 62.98%.

Analysts Set New Price Targets

Several brokerages recently commented on PG. Raymond James increased their price target on Procter & Gamble from $170.00 to $175.00 and gave the company an outperform rating in a research report on Wednesday, January 24th. UBS Group raised their target price on shares of Procter & Gamble from $172.00 to $178.00 and gave the company a buy rating in a research note on Wednesday, January 24th. StockNews.com downgraded shares of Procter & Gamble from a buy rating to a hold rating in a research report on Thursday, February 29th. Stifel Nicolaus upped their target price on shares of Procter & Gamble from $155.00 to $157.00 and gave the company a hold rating in a report on Wednesday, January 24th. Finally, JPMorgan Chase & Co. lowered their price target on Procter & Gamble from $169.00 to $162.00 and set an overweight rating on the stock in a research report on Thursday, January 18th. Seven analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of Moderate Buy and a consensus price target of $168.53.

Insider Transactions at Procter & Gamble

In related news, CEO R. Alexandra Keith sold 776 shares of the business’s stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $158.11, for a total value of $122,693.36. Following the completion of the transaction, the chief executive officer now owns 4,859 shares of the company’s stock, valued at $768,256.49. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related 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 value of $122,693.36. Following the transaction, the chief executive officer now directly owns 4,859 shares of the company’s stock, valued at $768,256.49. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Gary A. Coombe sold 22,000 shares of the company’s stock in a transaction 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 sale, the chief executive officer now owns 36,845 shares of the company’s stock, valued at $5,943,835.40. The disclosure for this sale can be found here. In the last three months, 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 Inflows and Outflows

Several institutional investors have recently bought and sold shares of PG. Hobbs Group Advisors LLC acquired a new position in shares of Procter & Gamble during the fourth quarter worth $235,000. Aspect Partners LLC bought a new stake in Procter & Gamble during the 4th quarter worth $35,000. GSA Capital Partners LLP increased its holdings in Procter & Gamble by 242.9% in the 4th quarter. GSA Capital Partners LLP now owns 5,167 shares of the company’s stock worth $757,000 after purchasing an additional 3,660 shares in the last quarter. Mercer Global Advisors Inc. ADV raised its position in Procter & Gamble by 20.6% in the fourth quarter. Mercer Global Advisors Inc. ADV now owns 497,700 shares of the company’s stock valued at $72,933,000 after purchasing an additional 84,888 shares during the last quarter. Finally, Mango Five Family Inc. acquired a new stake in shares of Procter & Gamble during the fourth quarter valued at about $940,000. Institutional investors and hedge funds own 65.77% of the company’s stock.

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.