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The Procter&Gamble Co. Market Update

8/24/2022 3:51 PM

The stocks of one of the leaders of the global consumer goods market, The Procter& Gamble Co., are in a corrective trend and are trading at the level of 146.00. 

As previously expected, in fiscal Q4, the company managed to demonstrate an increase in key indicators. Thus, net profit increased by 4.8% and amounted to 3.05B dollars compared to 2.91B dollars for the same period last year. Earnings per share reached 1.21 dollars, up from 1.13 dollars, and quarterly revenue was 19.5B dollars, up from 18.9B dollars last year. In its forecast for 2023, The Procter & Gamble Co. expects an increase in revenue in the range of 0.5-2%, and earnings per share in the region of 2-4% relative to current indicators. 

As for dividends, the company is still sticking to its plan to return to investors a total of up to 18.0B dollars, of which 8B dollars – as dividends and 10.0B dollars – in the form of a share repurchase program. This is indicated by the payment made on August 15 in the amount of 0.9133 dollars per share, the yield of which was 2.58% per annum average for the US market.   

Quotes are traded in a global side channel, heading towards the resistance line.

Technical indicators continue to hold a stable buy signal: fast EMAs on the alligator indicator are above the signal line, and the histogram of the AO oscillator, staying in the buy zone, forms ascending bars.

Support levels: 143.30, 137.80. | Resistance levels: 150.00, 158.00.

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