Topic: How To Invest

Wall Street Stock Forecaster Hotline – Friday, January 20, 2023

Article Excerpt

PROCTER & GAMBLE CO., $142.97, New York symbol PG, is a buy. The company is one of the world’s largest makers of household and personal-care goods. Major brands include Tide (laundry detergent), Pampers (diapers), Gillette (razors), Crest (toothpaste) and Vicks (cold remedies). In its fiscal 2023 second quarter, ended December 31, 2022, Procter’s sales fell 0.9%, to $20.77 billion from $20.95 billion a year earlier. Even so, that beat the consensus forecast of $20.72 billion. The company increased its prices by 10% to cover rising input costs. However, the volume of goods sold fell 6% as consumers used up their existing supplies before making new purchases. If you factor out the impact of businesses Procter bought and sold, as well as foreign currency rates, sales in the latest quarter rose 5%. Higher input costs also cut the company’s overall earnings by 6.9%, to $3.93 billion from $4.22 billion. Earnings per share declined 4.2%, to $1.59 from $1.66 on fewer shares outstanding. That matched the consensus…