Consumer products maker The Procter & Gamble Company (
) on Friday posted a sharp decline in fiscal second quarter
earnings, hurt by one-time charges, and lowered its full-year
The Cincinnati-based company reported fiscal second quarter net
income of $1.69 billion, or 57 cents per share, down from $3.33
billion, or $1.11 per share, in the year-ago period. Excluding
special items, adjusted profit was $1.10 per share.
On average, Wall Street analysts expected a smaller profit of
$1.08 per share, albeit on higher revenue of $22.19 billion.
Looking ahead, P&G forecast third quarter earnings of 91 to
97 cents per share, which would badly miss Wall Street's view for
$1.06 per share. For the full fiscal year 2012, the company lowered
its earnings guidance to a range of $4 to $4.10 per share, down
from a prior outlook of $4.15 to $4.33. Analysts are looking for
$4.16 per share for the year.
Procter & Gamble shares fell 45 cents, or -0.7%, in
premarket trading Friday.
The Bottom Line
Shares of Procter & Gamble (
) have a 3.24% dividend yield, based on Friday's closing stock
price of $64.80. The stock has technical support in the $62-$64
price area. If the shares can firm up, we see overhead resistance
around the $68-$70 price level.
The Procter & Gamble Company (
) is not recommended at this time, holding a Dividend.com DARS™
Rating of 3.4 out of 5 stars.
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