The stock of The Procter & Gamble Company (NYSE:PG) is now priced at $138.18 and the shares are -0.15 points down or -0.11% lower compared to its previous closing price of $138.33. The stock had 5.283 million contracts set over the past session. PG shares’ daily volume is compared to its average trading volume at 6.78 million shares. However, it has a float of 2470 million and although its performance was -0.63% over the week, it’s one to watch. Analysts have given the PG stock a yearly average price target of $129.64 per share. It means the stock’s downside potential is -6.18% with the PG share price recently placing at $137.07 to $138.22. However, some brokerage firms have priced the stock below the average, including one that has called $120.
The shorts are running away from the The Procter & Gamble Company stock, with the latest data on short interest released on July 31, 2020, showing that short interest numbers in the PG shares have declined. Short interest in the stock represents just 0.56% of its float, but the volume has dropped by 0.
In the last trading session, The Procter & Gamble Company (NYSE:PG) dropped by -$0.88 over the week and gained $4.39 on its 20-day. The stock’s high in the recent session is lower when compared to its 52-week high of $139.69. The stock recorded its established 52-week high on 08/27/20.
Since 03/23/20, the stock has traded to a low of $94.34 at 46.47%, an encouraging piece of data likely to interest most investors out to exploit the stock’s recent surge. The stock has a beta allocation of 0.41. Being above 1 means that the stock’s volatility is higher than the market and traders are keenly watching it.
Looking at current readings, The Procter & Gamble Company’s two-week RSI is 71.53. This suggests that the stock is oversold at the moment and that PG shares’ price movement remains not stable. The stochastic readings are equally revealing at 78.19% meaning the PG share price is currently in oversold territory.
The technical chart shows that the PG stock will likely settle at between $138.58 and $138.97 per share. However, if the stock dips below $137.43, then its market would become much weaker. Any downside could see the stock price sliding to levels as low as $136.67.
Currently, the stock is trading in the green of MACD, with a reading of 0.23. Investors always pay attention to any move above or below the zero-line, mainly because the indicator points to the position of the stock’s short-term average relative to its long-term measure. A MACD -a reading above the zero line means that the short-term is above the long-term average. This scenario implies that there is an upward momentum. The opposite is true when the MACD falls below the zero-line.
Analysts at Jefferies raised their recommendation for PG from Hold to Buy in March 30 review while maintain their target price of $130 to $128. Stifel analysts upgraded their recommendation of the stock from Hold to Buy while keeping its target price at $119 to $117 in a flash note released to investors on March 27. Argus seeing the improvements upgraded the stock from Hold to Buy on March 26, placing it at $120.
The average rating for the PG equity is 2.23 and is currently gathering a bullish momentum. Of 22 analysts tracking The Procter & Gamble Company polled by Reuters, 8 rated PG as a hold. The remaining 14 analysts were split evenly. However, the split wasn’t equal as a majority (13) rated it as a buy or strong buy. 1 analyst advised investors against buying the stock or to sell if they own any of the stock.
Elsewhere, the PG stock price is 23.99X ahead of its 12-month Consensus earnings per share estimates. The stocks P/S ratio currently stands at 27.9 below the group’s average of 33.9. The Procter & Gamble Company has its P/E ratio at 7.5, which means that the stock is currently trading at a discount relative to the 9.2 industry average.
Zacks Consensus Estimate forecasts that the current-quarter revenues for The Procter & Gamble Company (NYSE:PG) will increase by about 3.18%, which will see them reach $18300 million. The company’s full-year revenues are, however, expected to increase by about 2.69%, up from $71000 million to $72900 million. PG’s expected adjusted earnings should surge almost 2.92% to end up at $1.41 per share, while for the fiscal year, analysts project the company’s earnings to grow by about 5.27% to record $5.39/share.