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Earnings Growth & Price Strength Make Procter & Gamble (PG) a Stock to Watch

Zacks Equity Research
·2-min read

Kickstarting your investment journey can be both exciting and scary at the same time, and if you're new to investing, you may not know where to even begin. However, one thing is for certain -- stocks set to beat the market over the next 12 months serve as the perfect foundation for any kind of investor.

Now, let's break down why adding this one exceptional stock, highlighted below, to your portfolio could be a recipe for success.

Why You Should Pay Attention to Procter & Gamble (PG)

Headquartered in Cincinnati, OH, The Procter & Gamble Company, also referred to as Procter & Gamble or P&G, is a branded consumer products company which markets its products in more than 180 countries primarily through mass merchandisers, grocery stores, membership club stores, drug stores, department stores, distributors, baby stores, specialty beauty stores, e-commerce, high-frequency stores, pharmacies, electronics stores and professional channels. It has operations in approximately 70 countries. The company has five reportable segments

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Since being added to the Zacks Focus List on March 23, 2020 at $102.43 per share, shares of PG have increased 63.66% to $167.64.

For fiscal 2024, 11 analysts revised their earnings estimate upwards in the last 60 days, and the Zacks Consensus Estimate has increased $0.10 to $6.55. PG boasts an average earnings surprise of 6.5%.

Earnings for Procter & Gamble are forecasted to see growth of 11% for the current fiscal year as well.

Since stock prices respond to earnings estimate revisions, it can be very profitable to buy stocks with an increased earnings outlook. By buying a Focus List stock like PG, then, you're likely getting into a company whose future earnings estimates will be raised, potentially leading to price momentum.

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Procter & Gamble Company (The) (PG) : Free Stock Analysis Report

To read this article on Zacks.com click here.

Zacks Investment Research