Wells Fargo & Co. Cuts Procter & Gamble to Market Perform (PG)

By admin | 6 years ago

Procter & Gamble (NYSE: PG) was downgraded by Wells Fargo & Co. (NYSE: WFC) from an “outperform” rating to a “market perform” rating in a research note issued on Monday.

Several other analysts have also recently commented on the stock. Analysts at BMO Capital Markets cut their price target on shares of Procter & Gamble to $74.00 in a research note to investors on Tuesday, May 1st. They now have an “outperform” rating on the stock. Separately, analysts at Zacks reiterated a “neutral” rating on shares of Procter & Gamble in a research note to investors on Monday, April 30th. They now have a $68.00 price target on the stock. Finally, analysts at Oppenheimer (NYSE: OPY) downgraded shares of Procter & Gamble from an “outperform” rating to a “perform” rating in a research note to investors on Monday, April 30th.

Procter & Gamble traded down 0.08% on Monday, hitting $64.20. 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 $175.9 billion and a price-to-earnings ratio of 19.70.

Procter & Gamble last released its earnings data on Friday, April 27th. The company reported $0.94 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.93 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 $1.10 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.

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