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Procter & Gamble Tops Consensus Estimates in Q4

Procter & Gamble Company (PG) reported solid fourth-quarter and full fiscal 2021 results characterized by top and bottom-line growth. Net sales in the quarter were up 7% year-over-year to $18.9 billion, versus the $18.32 billion that analysts expected. The increase was driven by higher shipment volumes as well as pricing and positive mix.

Diluted earnings were up 6% versus the same quarter last year to $1.13 a share, beating consensus estimates of $1.09 a share. The increase was due to a 4% increase in net earnings and a reduction in shares outstanding.

Full-year revenue was up 7% to $76.1 billion, and diluted EPS increased 11% to $5.50. (See Procter & Gamble stock charts on TipRanks)

“As we look forward to fiscal 2022, we expect to continue to grow top-line and bottom-line and to deliver another year of strong cash return to shareholders despite a challenging cost and operating environment,” said CEO David Taylor.

Procter & Gamble expects Fiscal 2022 sales to grow between 2% and 4% versus the prior fiscal year. Diluted net earnings are expected to grow between 6% and 9%. The company is also projecting headwinds of about $1.9 billion after-tax from higher commodity and freight costs.

Goldman Sachs analyst Jason English recently reiterated a Buy rating on the stock but raised his price target to $146 from $139, implying 2.65% upside potential to current levels.

Consensus among analysts is a Moderate Buy based on 3 Buys and 3 Holds. The average Procter and Gamble price target of $148.50 implies 4.41% upside potential to current levels.

PG scores a 6 out of 10 on TipRanks’ Smart Score rating system, suggesting that the stock is likely to perform in line with market averages.

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