Procter & Gamble Reaffirms Guidance, Increases Buyback Plan ahead of Analyst Day (PG)

By Staff,

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Consumer products maker The Procter & Gamble Company ( PG ) on Thursday backed its full-year earnings outlook and unveiled plans to boost its share repurchase plan by 50%.

The company, which meets with analysts today in Cincinnati, reiterated its previously-announced full-year 2012 earnings forecast of $3.80 to $4.00 per share, which straddles Wall Street's estimate of $3.90 per share.

P&G also plans to increase its share buyback plan by 50% to $6 billion, up from $4 billion previously. Read about why we much prefer dividends to share buybacks.

Procter & Gamble shares rose 57 cents, or +0.9%, in premarket trading Thursday.

The Bottom Line
Shares of Procter & Gamble ( PG ) have a 3.38% dividend yield, based on last night's closing stock price of $66.53. The stock has technical support in the $63-$64 price area. If the shares can firm up, we see overhead resistance around the $68-$70 price levels.

The Procter & Gamble Company ( PG ) is not recommended at this time, holding a 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 .

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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This article appears in: Investing Stocks
Referenced Stocks: PG

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