Procter & Gamble (PG) Lowered to “Neutral” at Bank of America

Procter & Gamble (NYSE:PG) was downgraded by analysts at Bank of America from a “buy” rating to a “neutral” rating in a research report issued on Friday, The Fly reports.

Other research analysts have also issued research reports about the company. Jefferies Group reiterated a “buy” rating and set a $90.00 price target on shares of Procter & Gamble in a research report on Thursday. SunTrust Banks reissued a “hold” rating and issued a $75.00 price objective on shares of Procter & Gamble in a research note on Friday. Deutsche Bank downgraded Procter & Gamble from a “buy” rating to a “hold” rating in a research note on Friday. Berenberg Bank began coverage on Procter & Gamble in a research note on Wednesday, February 28th. They issued a “sell” rating and a $78.50 price objective on the stock. Finally, Vetr raised Procter & Gamble from a “buy” rating to a “strong-buy” rating and set a $96.92 price objective on the stock in a research note on Thursday, February 1st. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Procter & Gamble currently has an average rating of “Hold” and an average price target of $84.02.

How to Become a New Pot Stock Millionaire

Shares of PG stock opened at $74.95 on Friday. The company has a quick ratio of 0.79, a current ratio of 0.94 and a debt-to-equity ratio of 0.41. Procter & Gamble has a 1 year low of $74.20 and a 1 year high of $94.67. The firm has a market cap of $197,142.50, a price-to-earnings ratio of 19.12, a price-to-earnings-growth ratio of 2.48 and a beta of 0.57.

Procter & Gamble (NYSE:PG) last announced its quarterly earnings results on Thursday, April 19th. The company reported $1.00 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.98 by $0.02. Procter & Gamble had a return on equity of 20.66% and a net margin of 15.34%. The company had revenue of $16.28 billion during the quarter, compared to analyst estimates of $16.22 billion. During the same quarter in the previous year, the firm posted $0.96 EPS. The firm’s quarterly revenue was up 4.3% on a year-over-year basis. equities analysts expect that Procter & Gamble will post 4.19 EPS for the current year.

In other news, insider Marylynn Fergusonmchugh sold 2,353 shares of the business’s stock in a transaction on Thursday, March 1st. The stock was sold at an average price of $78.59, for a total transaction of $184,922.27. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Marc S. Pritchard sold 46,842 shares of the business’s stock in a transaction on Wednesday, January 24th. The stock was sold at an average price of $89.01, for a total value of $4,169,406.42. The disclosure for this sale can be found here. Insiders have sold 114,011 shares of company stock worth $9,710,976 over the last ninety days. 0.35% of the stock is owned by insiders.

Several institutional investors have recently made changes to their positions in PG. Edgestream Partners L.P. raised its position in Procter & Gamble by 21.9% during the third quarter. Edgestream Partners L.P. now owns 7,543 shares of the company’s stock valued at $686,000 after buying an additional 1,356 shares during the period. Asset Dedication LLC purchased a new position in Procter & Gamble in the fourth quarter valued at about $1,164,000. Moller Financial Services grew its stake in Procter & Gamble by 31.3% in the fourth quarter. Moller Financial Services now owns 11,887 shares of the company’s stock valued at $1,092,000 after purchasing an additional 2,837 shares in the last quarter. Spectrum Management Group Inc. grew its stake in Procter & Gamble by 221.4% in the third quarter. Spectrum Management Group Inc. now owns 32,757 shares of the company’s stock valued at $2,980,000 after purchasing an additional 22,565 shares in the last quarter. Finally, Fisher Asset Management LLC grew its stake in Procter & Gamble by 3.0% in the fourth quarter. Fisher Asset Management LLC now owns 9,149,634 shares of the company’s stock valued at $840,668,000 after purchasing an additional 269,402 shares in the last quarter. 60.95% of the stock is currently owned by institutional investors.

WARNING: This news story was posted by Week Herald and is the property of of Week Herald. If you are viewing this news story on another domain, it was illegally stolen and republished in violation of US & international trademark and copyright legislation. The original version of this news story can be read at https://weekherald.com/2018/04/20/procter-gamble-pg-lowered-to-neutral-at-bank-of-america.html.

Procter & Gamble Company Profile

The Procter & Gamble Company provides branded consumer packaged goods to consumers in the United States, Canada, Puerto Rico, Europe, the Asia Pacific, Greater China, Latin America, India, the Middle East, and Africa. The company's Beauty segment offers hair care products, including conditioners, shampoos, styling aids, and treatments; and skin and personal care products, such as antiperspirant and deodorant, personal cleansing, and skin care products.

The Fly

Analyst Recommendations for Procter & Gamble (NYSE:PG)

Receive News & Ratings for Procter & Gamble Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Procter & Gamble and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply