Consumer products maker The Procter & Gamble Company (
) on Friday posted mixed fiscal fourth quarter earnings results and
offered a tepid fiscal first quarter forecast.
The Cincinnati-based company reported fiscal fourth quarter net
income of $3.63 billion, or $1.24 per share, compared with $2.51
billion, or 84 cents per share, in the year-ago period. Excluding
one-time gains, adjusted profit was 82 cents per share.
Sales fell 1.2% from last year to $20.21 billion.
On average, Wall Street analysts expected a smaller profit of 77
cents per share, albeit on higher revenue of $20.26 billion.
Looking ahead, P&G forecast fiscal first quarter earnings to
range from 91 to 97 cents per share, on a 4% to 6% drop in revenue.
Analysts are looking for a higher profit of $1.03 per share, on a
3% sales decline.
Procter & Gamble shares rose 91 cents, or +1.4%, in
premarket trading Friday.
The Bottom Line
Shares of Procter & Gamble (
) have a 3.08% dividend yield, based on last night's closing stock
price of $63.51. The stock has technical support in the $59-$61
price area. If the shares can firm up, we see overhead resistance
around the $66-$67 price levels.
The Procter & Gamble Company (
) is not recommended at this time, holding a Dividend.com DARS™
Rating of 3.4 out of 5 stars.
Be sure to visit our complete recommended list of the
Best Dividend Stocks
, as well as a detailed explanation of
our ratings system here
Created by Dividend.com