Oppenheimer Lowers Procter & Gamble to Perform (PG)
Procter & Gamble (NYSE: PG) was downgraded by equities research analysts at Oppenheimer (NYSE: OPY) from an “outperform” rating to a “perform” rating in a research note issued to investors on Monday.
Several other analysts have also recently commented on the stock. Analysts at Bank of America (NYSE: BAC) cut their price target on shares of Procter & Gamble from $75.00 to $72.00 in a research note to investors on Sunday. They now have a “buy” rating on the stock. Finally, analysts at BMO Capital Markets upgraded shares of Procter & Gamble from a “market perform” rating to an “outperform” rating in a research note to investors on Monday, February 27th.
Procter & Gamble opened at 63.64 on Monday. Procter & Gamble has a 1-year low of $57.56 and a 1-year high of $67.95. The company has a market cap of $175.3 billion and a price-to-earnings ratio of 18.71.
The company last announced its quarterly results on Friday, April 27th. It reported $0.94 earnings per share (EPS) for the previous quarter, beating the Thomson Reuters consensus estimate of $0.93 EPS by $0.01. The company’s quarterly revenue was up 1.5% on a year-over-year basis. Analysts expect that Procter & Gamble will post $1.11 EPS next quarter.
The Procter & Gamble Company (P&G) is focused on providing consumer packaged goods. The Company’s products are sold in more than 180 countries primarily through mass merchandisers, grocery stores, membership club stores, drug stores and high-frequency stores, the neighborhood stores, which serve many consumers in developing markets.