PG

Procter & Gamble continues to operate in a volatile and challenging environment from an input cost standpoint, CFO Andre Schulten says at the latest Consumer Analyst Group of New York conference, a month after reporting F2Q results. The consumer goods giant is still seeing market pressure in Greater China and softening underlying market trends in some European, Asia Pacific and Middle East countries such as Egypt, Saudi Arabia and Turkey, due to its price increases, Schulten says. “Despite this volatility, we remain confident that the best path forward is to double down on the strategy that has enabled the strong results to date,” Schulten adds.

Procter & Gamble signals its expectations for market share growth rates at the latest Consumer Analyst Group of New York conference. P&G expects this metric to revert to “pretty much their historical norm,” which in its categories has usually been around 4% to 5%, CEO Jon Moeller says. “The good news there is that we’re beginning to see strong volume progress,” Moeller adds, noting that it’s also seeing good volume growth in Europe.

Procter & Gamble (NYSE:PG) Stock Analyst Ratings Date Upside/Downside Analyst Firm Price Target Change Rating Change Previous / Current Rating 01/31/2024 1.54% Truist Securities $155 → $160 Maintains Hold 01/25/2024 4.72% Barclays $160 → $165 Maintains Overweight 01/24/2024 -0.36% RBC Capital $156 → $157 Maintains Sector Perform 01/24/2024 -0.36% Stifel $155 → $157 Maintains Hold 01/24/2024 12.97% UBS $172 → $178 Maintains Buy 01/24/2024 7.89% Wells Fargo $162 → $170 Maintains Overweight 01/24/2024 11.06% Raymond James $170 → $175 Maintains Outperform 01/18/2024 2.81% JP Morgan $169 → $162 Maintains Overweight 01/16/2024 1.54% Barclays $164 → $160 Maintains Overweight 11/13/2023 12.33% Jefferies → $177 Initiates Coverage On → Buy 10/20/2023 -1.63% DZ Bank → $155 Upgrades Sell → Hold 10/19/2023 2.81% Wells Fargo $160 → $162 Maintains Overweight 10/19/2023 -1.63% Stifel $151 → $155 Maintains Hold 10/16/2023 -4.17% Stifel $161 → $151 Maintains Hold 10/12/2023 -2.27% Barclays $166 → $154 Maintains

Truist Securities analyst Bill Chappell maintains Procter & Gamble (NYSE:PG) with a Hold and raises the price target from $155 to $160.

Procter & Gamble’s (PG) focus markets, which make up 75% of sales, displayed “impressive” volume recovery in fiscal Q2 despite headwinds in China and the Middle East, RBC Capital Markets said Wednesday in a report. Company management forecast improving volumes in the US as pricing slows, RBC said. Organic sales in Greater China fell 15% in the quarter on weak consumer confidence, the report said. RBC reiterated its sector perform rating on Procter & Gamble’s stock and raised its price target to $157 from $156. Net sales in the quarter ended Dec. 31 rose to $21.4 billion from $20.8 billion a year earlier, the company said Tuesday. Shares of the company fell 0.7% in recent Wednesday trading.

Procter & Gamble maintained its topline guidance and raised the low end of its EPS guidance, but there’s limited upside to that outlook, Truist Securities analysts say in a research note. The consumer products giant continues to deal with a slower than expected recovery in China, and is seeing volume declines for its beauty, health care and baby and family care categories, analysts say. “We recommend investors stay on the sidelines at least until volume trends improve,” analysts say. Shares rise 4.3% to $154.17.

The Chinese consumer hasn’t fully recovered yet, but the market is showing some positive signs, P&G CFO Andre Schulten says on a call with analysts. The consumer products goods company sees heavy discounting and key consumption periods decreasing in the Asian giant, Schulten says. This had a temporary impact on P&G’s 2Q metrics, but it moves the company into a healthier position, CEO Jon Moeller says. The near-term is likely to present some challenges in China, but retail partners remain encouraged about the future of China, Moeller adds. Shares rise 4.4% to $154.31.

The following is a summary of the The Procter & Gamble Company (PG) Q2 2024 Earnings Call Transcript: Financial Performance: Procter & Gamble reported Q2 organic sales growth of 4% aided by strong strategy execution. Pricing contributed to the sales growth with broad growth across eight out of ten product categories. Core earnings per share were $1.84, a 16% increase year-over-year and 18% on a currency neutral basis. The company returned $3.3 billion of cash to share owners through dividends and share repurchase. Due to strong first-half earnings growth, the fiscal 2024 core earnings per share outlook has increased to a range of 8% to 9% growth. P&G plans to repurchase $5 billion to $6 billion in common stock and return $14 billion to $15 billion of cash to share owners in FY 2024. Business Progress: P&G remains confident in its strategic focus areas and will continue to invest in

Procter & Gamble (NYSE:PG) Stock Analyst Ratings Date Upside/Downside Analyst Firm Price Target Change Rating Change Previous / Current Rating 01/24/2024 14% Raymond James $170 → $175 Maintains Outperform 01/18/2024 5.53% JP Morgan $169 → $162 Maintains Overweight 01/16/2024 4.23% Barclays $164 → $160 Maintains Overweight 11/13/2023 15.3% Jefferies → $177 Initiates Coverage On → Buy 10/20/2023 0.97% DZ Bank → $155 Upgrades Sell → Hold 10/19/2023 5.53% Wells Fargo $160 → $162 Maintains Overweight 10/19/2023 0.97% Stifel $151 → $155 Maintains Hold 10/16/2023 -1.64% Stifel $161 → $151 Maintains Hold 10/12/2023 0.32% Barclays $166 → $154 Maintains Overweight 10/12/2023 10.09% JP Morgan $172 → $169 Maintains Overweight 10/12/2023 -0.33% Bernstein $162 → $153 Maintains Market Perform 09/22/2023 16.6% HSBC → $179 Initiates Coverage On → Buy 09/08/2023 — William Blair Initiates Coverage On → Market Perform 08/01/2023 13.35% Morgan Stanley $174 → $174 Reiterates Overweight → Overweight 08/01/2023 14%

Procter & Gamble (NYSE:PG) Stock Analyst Ratings Date Upside/Downside Analyst Firm Price Target Change Rating Change Previous / Current Rating 01/18/2024 9.48% JP Morgan $169 → $162 Maintains Overweight 01/16/2024 8.13% Barclays $164 → $160 Maintains Overweight 11/13/2023 19.62% Jefferies → $177 Initiates Coverage On → Buy 10/20/2023 4.75% DZ Bank → $155 Upgrades Sell → Hold 10/19/2023 9.48% Wells Fargo $160 → $162 Maintains Overweight 10/19/2023 4.75% Stifel $151 → $155 Maintains Hold 10/16/2023 2.05% Stifel $161 → $151 Maintains Hold 10/12/2023 4.08% Barclays $166 → $154 Maintains Overweight 10/12/2023 14.21% JP Morgan $172 → $169 Maintains Overweight 10/12/2023 3.4% Bernstein $162 → $153 Maintains Market Perform 09/22/2023 20.97% HSBC → $179 Initiates Coverage On → Buy 09/08/2023 — William Blair Initiates Coverage On → Market Perform 08/01/2023 17.59% Morgan Stanley $174 → $174 Reiterates Overweight → Overweight 08/01/2023 18.27% B of A Securities $170 → $175 Maintains Buy

Procter & Gamble (NYSE:PG) stock Analyst Ratings Date Upside/Downside Analyst Firm Price Target Change Rating Change Previous / Current Rating 01/16/2024 6.93% Barclays $164 → $160 Maintains Overweight 11/13/2023 18.3% Jefferies → $177 Initiates Coverage On → Buy 10/20/2023 3.59% DZ Bank → $155 Upgrades Sell → Hold 10/19/2023 8.27% Wells Fargo $160 → $162 Maintains Overweight 10/19/2023 3.59% Stifel $151 → $155 Maintains Hold 10/16/2023 0.92% Stifel $161 → $151 Maintains Hold 10/12/2023 2.92% Barclays $166 → $154 Maintains Overweight 10/12/2023 12.95% JP Morgan $172 → $169 Maintains Overweight 10/12/2023 2.26% Bernstein $162 → $153 Maintains Market Perform 09/22/2023 19.63% HSBC → $179 Initiates Coverage On → Buy 09/08/2023 — William Blair Initiates Coverage On → Market Perform 08/01/2023 16.29% Morgan Stanley $174 → $174 Reiterates Overweight → Overweight 08/01/2023 16.96% B of A Securities $170 → $175 Maintains Buy 08/01/2023 10.94% Barclays $160 → $166 Maintains Overweight 07/31/2023

Jefferies analyst Kaumil Gajrawala initiates coverage on Procter & Gamble (NYSE:PG) with a Buy rating and announces Price Target of $177.