Procter & Gamble (NYSE:PG) is scheduled to announce its third-quarter results on April 21, before the market opens. Resilient demand for the company’s products, strong pricing power, and favorable foreign exchange movements are likely to have supported P&G’s performance in the upcoming quarter.
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However, it’s likely that high inflation had an impact on consumer spending power and, as a result, had some negative effects on the company’s Q3 results.
Wall Street analysts expect P&G to post earnings of $1.32 in Q3, lower than the prior-year quarter figure of $1.33. At the same time, the Street expects the company to report net revenue of $19.25 billion, down 0.7% from the same quarter last year.
Ahead of the company’s Q3 results, Barclays analyst Lauren Lieberman maintained a Buy rating on PG stock and raised the price target to $160 from $158. The analyst predicts that P&G’s well-known brands will contribute to the volume growth.
Is PG Stock a Good Buy?
Turning to Wall Street, Procter & Gamble has a Moderate Buy consensus rating based on 10 Buys and four Holds assigned in the past three months. At $160.36, the average Procter & Gamble stock forecast implies 6% upside potential.
Concluding Thoughts
P&G’s portfolio of premium brands, which includes Pampers and Gillette, among others, should continue to perform well, contributing to the company’s top-line growth. Also, P&G’s effective capital distribution strategies keep enhancing the value of its shareholders.