Topic: Growth Stocks

The Wall Street Stock Forecaster Hotline – Friday, August 6, 2010

Article Excerpt

PROCTER & GAMBLE CO., $60.02, New York symbol PG, is one of the world’s largest makers of household and personal-care products. Some of its top brands include Tide detergent, Crest toothpaste, Head & Shoulders shampoo and Pampers diapers. In its 2010 fiscal year, which ended June 30, 2010, Procter earned $10.9 billion. That’s up 2.5% from $10.7 billion in fiscal 2009. The company spent $6.0 billion on share buybacks in the latest year. Because of fewer shares outstanding, earnings per share rose 4.1%, to $3.53 from $3.39. Without unusual items, including gains on the sale of its prescription-drug division, Procter would have earned $3.67 a share in fiscal 2010. That’s 5.8% higher than the $3.47 a share it earned in fiscal 2009. Despite the gain, the latest earnings fell short of the consensus estimate of $3.89 a share. That caused the stock to fall 3% this week. Procter’s sales rose 2.9% to $78.9 billion from $76.7 billion. Procter has cut some…