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

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

RSS

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 Dividend.com 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.

Free Updates

Join over 100,000 investors who get the latest news from Dividend.com.

Best Dividend Stocks

Looking for stocks that are poised for growth and pay solid dividends? Visit our list of the:

Best Dividend Stocks

Partner Center

Best CD Rates

Sitting on some extra cash and looking for the most current and profitable CD Rates?

Get The Best CD Rates

14 Day Free Trial

Earn more from your dividend portfolio within the next 14 days.

Sign Up Today