Jefferies Financial Group Equities Analysts Cut Earnings Estimates for The Procter & Gamble Company (NYSE:PG)

The Procter & Gamble Company (NYSE:PGGet Rating) – Analysts at Jefferies Financial Group reduced their FY2023 earnings per share (EPS) estimates for shares of Procter & Gamble in a research report issued to clients and investors on Sunday, July 31st. Jefferies Financial Group analyst K. Grundy now anticipates that the company will earn $6.00 per share for the year, down from their prior forecast of $6.10. The consensus estimate for Procter & Gamble’s current full-year earnings is $5.94 per share. Jefferies Financial Group also issued estimates for Procter & Gamble’s FY2024 earnings at $6.55 EPS and FY2025 earnings at $7.12 EPS.

Procter & Gamble (NYSE:PGGet Rating) last posted its quarterly earnings data on Friday, July 29th. The company reported $1.21 earnings per share for the quarter, missing the consensus estimate of $1.23 by ($0.02). The firm had revenue of $19.52 billion for the quarter, compared to the consensus estimate of $19.41 billion. Procter & Gamble had a return on equity of 32.52% and a net margin of 18.39%. The firm’s quarterly revenue was up 3.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.13 EPS.

Other equities research analysts also recently issued reports about the company. JPMorgan Chase & Co. lowered their target price on Procter & Gamble from $165.00 to $156.00 in a report on Thursday, July 21st. Credit Suisse Group lifted their target price on Procter & Gamble from $140.00 to $150.00 and gave the company a “neutral” rating in a research report on Thursday, April 21st. Deutsche Bank Aktiengesellschaft cut their target price on Procter & Gamble from $171.00 to $157.00 and set a “buy” rating on the stock in a research report on Tuesday, June 21st. UBS Group cut their price objective on Procter & Gamble to $153.00 in a research report on Friday, July 22nd. Finally, Barclays lowered their target price on Procter & Gamble from $157.00 to $154.00 and set a “maintains” rating on the stock in a research note on Tuesday. Five equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $162.93.

Procter & Gamble Stock Performance

Shares of PG stock opened at $144.88 on Tuesday. Procter & Gamble has a 12 month low of $129.50 and a 12 month high of $165.35. The company has a current ratio of 0.65, a quick ratio of 0.45 and a debt-to-equity ratio of 0.49. The firm has a market capitalization of $347.61 billion, a price-to-earnings ratio of 24.94, a PEG ratio of 4.44 and a beta of 0.35. The business’s 50-day moving average price is $143.01 and its 200-day moving average price is $151.25.

Hedge Funds Weigh In On Procter & Gamble

Institutional investors have recently added to or reduced their stakes in the business. Win Advisors Inc. boosted its holdings in shares of Procter & Gamble by 91.5% in the 2nd quarter. Win Advisors Inc. now owns 180 shares of the company’s stock worth $26,000 after purchasing an additional 86 shares in the last quarter. Joseph Group Capital Management purchased a new position in shares of Procter & Gamble in the 4th quarter worth about $1,527,000. Lansing Street Advisors purchased a new position in shares of Procter & Gamble in the 1st quarter worth about $37,000. Western Pacific Wealth Management LP purchased a new position in shares of Procter & Gamble in the 4th quarter worth about $40,000. Finally, Dravo Bay LLC purchased a new position in shares of Procter & Gamble in the 1st quarter worth about $40,000. 63.64% of the stock is currently owned by institutional investors.

Insider Activity at Procter & Gamble

In other Procter & Gamble news, CEO Sundar G. Raman sold 1,599 shares of the company’s stock in a transaction dated Thursday, July 7th. The stock was sold at an average price of $145.12, for a total value of $232,046.88. Following the transaction, the chief executive officer now directly owns 4,002 shares in the company, valued at approximately $580,770.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.51% of the stock is currently owned by corporate insiders.

Procter & Gamble Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, August 15th. Investors of record on Friday, July 22nd will be paid a dividend of $0.913 per share. The ex-dividend date is Thursday, July 21st. This represents a $3.65 dividend on an annualized basis and a dividend yield of 2.52%. Procter & Gamble’s payout ratio is 62.82%.

About Procter & Gamble

(Get Rating)

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

Further Reading

Earnings History and Estimates for Procter & Gamble (NYSE:PG)

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