Consumer products maker The Procter & Gamble Company (
) 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
Procter & Gamble shares rose 57 cents, or +0.9%, in
premarket trading Thursday.
The Bottom Line
Shares of Procter & Gamble (
) 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 (
) is not recommended at this time, holding a Dividend.com DARS™
Rating of 3.4 out of 5 stars.
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