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Procter & Gamble Posts Strong Q1 Results, Stock Up

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On Tuesday, Oct. 20, Procter & Gamble stock surged more than 2 percent in the pre-market trading session after the company released its earnings for the first quarter of fiscal 2021, which ended Sept. 30. The company's quarterly earnings and sales beat analysts’ average estimates.

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When did Procter & Gamble report its earnings?

Procter & Gamble reported its earnings for the first quarter of fiscal 2021 on Oct. 20 before the markets open. The consumer goods company will hold its earnings conference call at 8:30 a.m. ET. Investors and media can access a live audio webcast of the event on the company’s investor relations website.

Procter & Gamble Earnings Call
Source: Pixabay
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Highlights from Procter & Gamble’s earnings report

In the first quarter, Procter & Gamble reported an EPS of $1.63 compared to $1.36 in the first quarter of fiscal 2020. The EPS beat analysts’ average estimate of $1.42. Procter & Gamble generated sales of $19.32 billion in the first quarter, which was 9 percent higher than the first quarter of fiscal 2020. The company also beat analysts’ average sales estimate of $18.38 billion. Procter & Gamble said that the coronavirus pandemic fueled higher demand for its household products.

Procter & Gamble raised its sales and core EPS outlook for fiscal 2021. The company expects sales growth of 3 percent to 4 percent in fiscal 2021—up from its earlier forecast of 1 percent to 3 percent. Procter & Gamble expects core EPS growth of 5 percent to 8 percent—up from its earlier forecast of 3 percent to 7 percent.

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What is Procter & Gamble’s stock price today?

Procter & Gamble stock was up about 2 percent at $144.70 in the pre-market trading session on Oct. 20 as of 7:18 a.m. ET. The stock fell 1.7 percent on Oct. 19 and closed at $141.91 with a market capitalization of $353.3 billion.

Procter & Gamble stock has fallen by 1.6 percent in the last five days, while it has risen by 16.2 percent in the last year. The stock is trading 2.7 percent below its 52-week high of $145.87 and 50.4 percent above its 52-week low of $94.34.

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What is Procter & Gamble’s dividend yield?

As of Oct. 19, Procter & Gamble’s dividend yield was 2.23 percent. Currently, the company pays an annual dividend of $3.16 per share. Procter & Gamble has increased its dividend for the last 27 years by an average of 3.4 percent each year.

What is Procter & Gamble’s stock forecast?

Wall Street analysts' stock price forecast for Procter & Gamble is $141.69, which suggests a 0.2 percent downside. The highest target price of $166 indicates a 17 percent upside, while the lowest target price of $110 indicates a 22.5 percent downside. Among the 22 analysts covering Procter & Gamble, ten have a buy rating, ten have a hold rating, and two have a sell rating.

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