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Procter & Gamble (PG) Ascends But Remains Behind Market: Some Facts to Note
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Procter & Gamble (PG - Free Report) closed the latest trading day at $166.80, indicating a +0.69% change from the previous session's end. The stock's performance was behind the S&P 500's daily gain of 1.02%. Meanwhile, the Dow experienced a rise of 1.09%, and the technology-dominated Nasdaq saw an increase of 1.18%.
Shares of the world's largest consumer products maker witnessed a loss of 1.09% over the previous month, beating the performance of the Consumer Staples sector with its loss of 2.18% and underperforming the S&P 500's gain of 4.44%.
The investment community will be closely monitoring the performance of Procter & Gamble in its forthcoming earnings report. The company is scheduled to release its earnings on July 30, 2024. The company is expected to report EPS of $1.37, unchanged from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $20.79 billion, up 1.17% from the year-ago period.
It is also important to note the recent changes to analyst estimates for Procter & Gamble. These revisions typically reflect the latest short-term business trends, which can change frequently. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. Over the past month, there's been no change in the Zacks Consensus EPS estimate. At present, Procter & Gamble boasts a Zacks Rank of #3 (Hold).
Looking at its valuation, Procter & Gamble is holding a Forward P/E ratio of 23.78. This denotes a premium relative to the industry's average Forward P/E of 20.65.
Investors should also note that PG has a PEG ratio of 3.16 right now. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. Soap and Cleaning Materials stocks are, on average, holding a PEG ratio of 3.06 based on yesterday's closing prices.
The Soap and Cleaning Materials industry is part of the Consumer Staples sector. With its current Zacks Industry Rank of 28, this industry ranks in the top 12% of all industries, numbering over 250.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.
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Procter & Gamble (PG) Ascends But Remains Behind Market: Some Facts to Note
Procter & Gamble (PG - Free Report) closed the latest trading day at $166.80, indicating a +0.69% change from the previous session's end. The stock's performance was behind the S&P 500's daily gain of 1.02%. Meanwhile, the Dow experienced a rise of 1.09%, and the technology-dominated Nasdaq saw an increase of 1.18%.
Shares of the world's largest consumer products maker witnessed a loss of 1.09% over the previous month, beating the performance of the Consumer Staples sector with its loss of 2.18% and underperforming the S&P 500's gain of 4.44%.
The investment community will be closely monitoring the performance of Procter & Gamble in its forthcoming earnings report. The company is scheduled to release its earnings on July 30, 2024. The company is expected to report EPS of $1.37, unchanged from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $20.79 billion, up 1.17% from the year-ago period.
It is also important to note the recent changes to analyst estimates for Procter & Gamble. These revisions typically reflect the latest short-term business trends, which can change frequently. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. Over the past month, there's been no change in the Zacks Consensus EPS estimate. At present, Procter & Gamble boasts a Zacks Rank of #3 (Hold).
Looking at its valuation, Procter & Gamble is holding a Forward P/E ratio of 23.78. This denotes a premium relative to the industry's average Forward P/E of 20.65.
Investors should also note that PG has a PEG ratio of 3.16 right now. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. Soap and Cleaning Materials stocks are, on average, holding a PEG ratio of 3.06 based on yesterday's closing prices.
The Soap and Cleaning Materials industry is part of the Consumer Staples sector. With its current Zacks Industry Rank of 28, this industry ranks in the top 12% of all industries, numbering over 250.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.