Procter & Gamble (P&G) Stock Analysis:
According to stock forecasts from 15 analysts, the average target price for Procter & Gamble’s (PG:NYE) stock over the next 12 months is USD 151.97. This suggests that the analysts believe that P&G’s stock will increase in value over the next year. Additionally, the average analyst rating for P&G is “Strong Buy,” which is the highest rating that can be given and indicates that analysts believe that P&G is a good investment opportunity.
Stock Target Advisor, which is a stock analysis website, has also conducted its own analysis of P&G and has determined that the company’s stock is “Slightly Bullish.” This is based on 9 positive signals and 5 negative signals. The positive signals suggest that the company is performing well and is likely to continue to do so in the future, while the negative signals indicate that there may be some risks or challenges that the company is facing.
At the last closing, P&G’s stock price was USD 146.41. However, over the past week, the stock price has decreased by -2.82%, over the past month by -2.68% and over the last year by -6.58%. This suggests that the stock’s performance has been negative over these periods.
Procter & Gamble News:
Procter & Gamble (PG) released better-than-expected second quarter revenues on Thursday, maintaining their near-term profit forecasts, but indicating that higher prices will likely drive full-year sales.
The company reported core earnings of $1.59 per share for the second quarter ending December, a 4.2% decrease from the previous year, but in line with analysts’ predictions. Net sales were slightly lower at $20.8 billion, slightly above analysts’ estimates of $20.73 billion.
The company also repeated its forecast for core earnings growth between flat and 4%, with organic sales growing between 4% to 5% for the 2023 fiscal year. Additionally, it announced that all-in sales will increase between 1% to 3%, compared to its prior forecast of a decline of 1% to 3%, as it continues to implement price hikes on key brands including Tide, Head & Shoulders, and Pampers.
Procter & Gamble shares were down 1% in early Wednesday trading following the earnings release, with a price of $144.04 each.
