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Procter & Gamble (PG) Laps the Stock Market: Here's Why
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In the latest trading session, Procter & Gamble (PG - Free Report) closed at $166.52, marking a +0.79% move from the previous day. The stock's performance was ahead of the S&P 500's daily gain of 0.1%. Meanwhile, the Dow experienced a drop of 0.08%, and the technology-dominated Nasdaq saw an increase of 0.28%.
The world's largest consumer products maker's stock has dropped by 1.11% in the past month, exceeding the Consumer Staples sector's loss of 2% and lagging the S&P 500's gain of 4.08%.
Analysts and investors alike will be keeping a close eye on the performance of Procter & Gamble in its upcoming earnings disclosure. The company's earnings report is set to go public on July 30, 2024. The company is expected to report EPS of $1.37, unchanged from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $20.79 billion, up 1.17% from the prior-year quarter.
It is also important to note the recent changes to analyst estimates for Procter & Gamble. These recent revisions tend to reflect the evolving nature of short-term business trends. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.
The Zacks Rank system, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Over the past month, there's been no change in the Zacks Consensus EPS estimate. Procter & Gamble presently features a Zacks Rank of #3 (Hold).
Valuation is also important, so investors should note that Procter & Gamble has a Forward P/E ratio of 23.71 right now. This indicates a premium in contrast to its industry's Forward P/E of 20.86.
It's also important to note that PG currently trades at a PEG ratio of 3.15. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. The Soap and Cleaning Materials industry had an average PEG ratio of 3.05 as trading concluded yesterday.
The Soap and Cleaning Materials industry is part of the Consumer Staples sector. This industry, currently bearing a Zacks Industry Rank of 16, finds itself in the top 7% echelons of all 250+ industries.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.
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Procter & Gamble (PG) Laps the Stock Market: Here's Why
In the latest trading session, Procter & Gamble (PG - Free Report) closed at $166.52, marking a +0.79% move from the previous day. The stock's performance was ahead of the S&P 500's daily gain of 0.1%. Meanwhile, the Dow experienced a drop of 0.08%, and the technology-dominated Nasdaq saw an increase of 0.28%.
The world's largest consumer products maker's stock has dropped by 1.11% in the past month, exceeding the Consumer Staples sector's loss of 2% and lagging the S&P 500's gain of 4.08%.
Analysts and investors alike will be keeping a close eye on the performance of Procter & Gamble in its upcoming earnings disclosure. The company's earnings report is set to go public on July 30, 2024. The company is expected to report EPS of $1.37, unchanged from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $20.79 billion, up 1.17% from the prior-year quarter.
It is also important to note the recent changes to analyst estimates for Procter & Gamble. These recent revisions tend to reflect the evolving nature of short-term business trends. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.
The Zacks Rank system, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Over the past month, there's been no change in the Zacks Consensus EPS estimate. Procter & Gamble presently features a Zacks Rank of #3 (Hold).
Valuation is also important, so investors should note that Procter & Gamble has a Forward P/E ratio of 23.71 right now. This indicates a premium in contrast to its industry's Forward P/E of 20.86.
It's also important to note that PG currently trades at a PEG ratio of 3.15. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. The Soap and Cleaning Materials industry had an average PEG ratio of 3.05 as trading concluded yesterday.
The Soap and Cleaning Materials industry is part of the Consumer Staples sector. This industry, currently bearing a Zacks Industry Rank of 16, finds itself in the top 7% echelons of all 250+ industries.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.