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Procter & Gamble (PG) Increases Despite Market Slip: Here's What You Need to Know
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In the latest market close, Procter & Gamble (PG - Free Report) reached $168, with a +0.83% movement compared to the previous day. The stock outpaced the S&P 500's daily loss of 2.32%. At the same time, the Dow lost 1.25%, and the tech-heavy Nasdaq lost 3.64%.
Prior to today's trading, shares of the world's largest consumer products maker had lost 0.14% over the past month. This has lagged the Consumer Staples sector's gain of 1% and the S&P 500's gain of 1.79% in that time.
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 forecasted to report an EPS of $1.37, showcasing no movement from the corresponding quarter of the prior year. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $20.73 billion, up 0.87% from the year-ago period.
Investors should also pay attention to any latest changes in analyst estimates for Procter & Gamble. These revisions help to show the ever-changing nature of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the past month, there's been a 0.01% fall in the Zacks Consensus EPS estimate. Procter & Gamble currently has a Zacks Rank of #3 (Hold).
Looking at valuation, Procter & Gamble is presently trading at a Forward P/E ratio of 23.92. Its industry sports an average Forward P/E of 20.71, so one might conclude that Procter & Gamble is trading at a premium comparatively.
Also, we should mention that PG has a PEG ratio of 3.13. 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. As the market closed yesterday, the Soap and Cleaning Materials industry was having an average PEG ratio of 3.12.
The Soap and Cleaning Materials industry is part of the Consumer Staples sector. This group has a Zacks Industry Rank of 180, putting it in the bottom 29% of all 250+ industries.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
You can find more information on all of these metrics, and much more, on Zacks.com.
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Procter & Gamble (PG) Increases Despite Market Slip: Here's What You Need to Know
In the latest market close, Procter & Gamble (PG - Free Report) reached $168, with a +0.83% movement compared to the previous day. The stock outpaced the S&P 500's daily loss of 2.32%. At the same time, the Dow lost 1.25%, and the tech-heavy Nasdaq lost 3.64%.
Prior to today's trading, shares of the world's largest consumer products maker had lost 0.14% over the past month. This has lagged the Consumer Staples sector's gain of 1% and the S&P 500's gain of 1.79% in that time.
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 forecasted to report an EPS of $1.37, showcasing no movement from the corresponding quarter of the prior year. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $20.73 billion, up 0.87% from the year-ago period.
Investors should also pay attention to any latest changes in analyst estimates for Procter & Gamble. These revisions help to show the ever-changing nature of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the past month, there's been a 0.01% fall in the Zacks Consensus EPS estimate. Procter & Gamble currently has a Zacks Rank of #3 (Hold).
Looking at valuation, Procter & Gamble is presently trading at a Forward P/E ratio of 23.92. Its industry sports an average Forward P/E of 20.71, so one might conclude that Procter & Gamble is trading at a premium comparatively.
Also, we should mention that PG has a PEG ratio of 3.13. 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. As the market closed yesterday, the Soap and Cleaning Materials industry was having an average PEG ratio of 3.12.
The Soap and Cleaning Materials industry is part of the Consumer Staples sector. This group has a Zacks Industry Rank of 180, putting it in the bottom 29% of all 250+ industries.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
You can find more information on all of these metrics, and much more, on Zacks.com.