The Procter & Gamble Company Receives Neutral Rating from Zacks (PG)
The Procter & Gamble Company (NYSE:PG)‘s stock had its “neutral” rating restated by Zacks in a report released on Tuesday. They currently have a $83.00 target price on the stock. Zacks‘s target price would suggest a potential upside of 4.77% from the company’s current price.
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 20% year over year driven by pricing gains, cost reductions and lower taxes. Organic revenues were up 2% as better pricing made up for softer volumes. 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 plan to divest around 100 underperforming brands so as to concentrate better on fewer core strategic brands sounds encouraging. 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.”
The Procter & Gamble Company (NYSE:PG) traded up 0.25% on Tuesday, hitting $79.42. The stock had a trading volume of 6,269,336 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 $79.83 and a 200-day moving average of $79.71. The company has a market cap of $222.6 billion and a price-to-earnings ratio of 19.77.
The Procter & Gamble Company (NYSE:PG) last announced its earnings results on Friday, August 1st. The company reported $0.95 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.91 by $0.04. The company had revenue of $20.16 billion for the quarter, compared to the consensus estimate of $20.48 billion. During the same quarter in the previous year, the company posted $0.79 earnings per share. The company’s revenue for the quarter was down .7% on a year-over-year basis. On average, analysts predict that The Procter & Gamble Company will post $4.48 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Friday, August 15th. Shareholders of record on Friday, July 18th will be paid a dividend of $0.6436 per share. This represents a $2.57 annualized dividend and a dividend yield of 3.25%. The ex-dividend date is Wednesday, July 16th.
PG has been the subject of a number of other recent research reports. Analysts at Citigroup Inc. reiterated a “buy” rating on shares of The Procter & Gamble Company in a research note on Monday. They now have a $94.00 price target on the stock, up previously from $92.00. Separately, analysts at Wells Fargo & Co. downgraded shares of The Procter & Gamble Company from an “outperform” rating to a “market perform” rating in a research note on Friday, July 11th. Finally, analysts at B. Riley cut their price target on shares of The Procter & Gamble Company from $88.00 to $87.00 in a research note on Monday, June 30th. They now have a “neutral” rating on the stock. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and eight have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $88.00.
The Procter & Gamble Company (NYSE:PG) is focused on providing consumer packaged goods.
To view Zacks’ full report, visit Zacks’ official website.
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