The Procter & Gamble Company Rating Reiterated by Zacks (PG)
The Procter & Gamble Company (NYSE:PG)‘s stock had its “neutral” rating restated by Zacks in a research report issued on Monday. They currently have a $85.00 price target on the stock. Zacks‘s price target points to a potential upside of 5.56% from the stock’s previous close.
Zacks’ analyst wrote, “P&G reported mixed fiscal third-quarter 2014 results, beating the Zacks Consensus Estimate for earnings but missing the same for sales. Earnings grew 5% year over year driven by healthy organic sales growth, improved operating margins and lower taxes. Despite slower developing market growth, organic revenues were up 3% due to growth in both volume and pricing. 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 disciplined geographic/product expansion and accelerated cost savings bode well for further future growth. However, currency headwinds, rising commodity costs, increasing competitive pressures, challenging consumer spending environment in the U.S. and deceleration in emerging market growth rates remain the overhangs. Also, we would like to see significant margin improvement before becoming more positive on the stock.”
Other equities research analysts have also recently issued reports about the stock. Analysts at B. Riley reiterated a “neutral” rating on shares of The Procter & Gamble Company in a research note on Wednesday, April 30th. They now have a $88.00 price target on the stock. Analysts at Citigroup Inc. reiterated a “buy” rating on shares of The Procter & Gamble Company in a research note on Thursday, April 24th. They now have a $92.00 price target on the stock. One analyst has rated the stock with a sell rating, nine have issued a hold rating and nine have issued a buy rating to the company. The Procter & Gamble Company has an average rating of “Hold” and a consensus price target of $86.98.
In other The Procter & Gamble Company news, Insider Deborah Henretta unloaded 48,724 shares of The Procter & Gamble Company stock in a transaction dated Monday, May 19th. The stock was sold at an average price of $79.96, for a total value of $3,895,971.04. Following the transaction, the insider now directly owns 175,466 shares in the company, valued at approximately $14,030,261. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.
The Procter & Gamble Company (NYSE:PG) traded down 0.16% on Monday, hitting $80.52. The stock had a trading volume of 4,472,635 shares. The Procter & Gamble Company has a 52-week low of $73.61 and a 52-week high of $85.82. The stock has a 50-day moving average of $81.24 and a 200-day moving average of $80.6. The company has a market cap of $217.9 billion and a price-to-earnings ratio of 21.50. The Procter & Gamble Company also was the target of a large drop in short interest during the month of April. As of April 30th, there was short interest totalling 18,892,099 shares, a drop of 19.5% from the April 15th total of 23,469,244 shares. Based on an average trading volume of 8,400,035 shares, the days-to-cover ratio is presently 2.2 days. Currently, 0.7% of the company’s shares are sold short.
The Procter & Gamble Company (NYSE:PG) last released its earnings data on Wednesday, April 23rd. The company reported $1.04 EPS for the quarter, beating the Thomson Reuters consensus estimate of $1.02 by $0.02. The company had revenue of $20.56 billion for the quarter, compared to the consensus estimate of $20.68 billion. During the same quarter in the prior year, the company posted $0.99 earnings per share. The company’s quarterly revenue was down .2% on a year-over-year basis. Analysts expect that The Procter & Gamble Company will post $4.20 EPS for the current fiscal year.
The Procter & Gamble Company (NYSE:PG) is focused on providing consumer packaged goods.
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