Procter & Gamble Co.’s Neutral Rating Reaffirmed at Zacks (PG)
Procter & Gamble Co. (NYSE:PG)‘s stock had its “neutral” rating restated by Zacks in a report released on Monday, AR Network reports. They currently have a $83.00 price objective on the stock. Zacks‘ price objective points to a potential upside of 4.82% from the company’s current price.
Zacks‘ analyst wrote, “Despite worse-than-expected currency headwinds, P&G reported mixed fiscal second-quarter 2014 results beating the Zacks Consensus Estimate for earnings but missing the same for sales. Pricing improved in the quarter and margins were better than the previous quarter. The consumer products giant also maintained its financial outlook for fiscal 2014.Overall, we are encouraged by P&G’s strong brand recognition, diversified portfolio, rapid growth in developing nations, impressive product development capabilities and marketing prowess. The company’s improving market share trends, disciplined geographic/product expansion and accelerated cost savings bode well for further growth. Though weaker in the first half, earnings growth is expected to accelerate in the second half. However, currency headwinds, rising commodity costs, increasing competitive pressures, challenging consumer spending environment in the U.S. and volatile market dynamics in other countries remain overhangs. We would like to see significant margin improvement before becoming more positive on the stock.”
Procter & Gamble Co. (NYSE:PG) traded down 0.63% during mid-day trading on Monday, hitting $78.68. 4,705,087 shares of the company’s stock traded hands. Procter & Gamble Co. has a 52 week low of $73.19 and a 52 week high of $85.82. The stock’s 50-day moving average is $81.30 and its 200-day moving average is $80.56. The company has a market cap of $213.9 billion and a P/E ratio of 20.12.
Procter & Gamble Co. (NYSE:PG) last posted its quarterly earnings results on Friday, January 24th. The company reported $1.21 earnings per share (EPS) for the quarter, meeting the consensus estimate of $1.21. The company had revenue of $22.30 billion for the quarter, compared to the consensus estimate of $22.38 billion. During the same quarter in the previous year, the company posted $1.22 earnings per share. The company’s revenue for the quarter was up .5% on a year-over-year basis. Analysts expect that Procter & Gamble Co. will post $4.27 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Tuesday, February 18th. Investors of record on Friday, January 24th will be given a dividend of 0.6015 per share. This represents a $2.41 dividend on an annualized basis and a yield of 3.04%. The ex-dividend date of this dividend is Wednesday, January 22nd.
Separately, analysts at RBC Capital initiated coverage on shares of Procter & Gamble Co. in a research note to investors on Tuesday, November 26th. They set a “sector perform” rating and a $91.00 price target on the stock. Two equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and nine have given a buy rating to the company’s stock. Procter & Gamble Co. presently has an average rating of “Hold” and a consensus target price of $86.10.
The Procter & Gamble Company (NYSE:PG), is focused on providing consumer packaged goods.
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