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Procter & Gamble Stock Price: Strong Organic Growth and Cash Returns Supports Bullish Trend

Procter & Gamble (NYSE: PG) stock price has been smoothly moving in an upward direction over the last ten months. The high mid-single-digit growth in revenues and double-digit growth in earnings are adding to the trader’s sentiments.

PG shares had hit an all-time high of $125 last month. Procter & Gamble stock price is currently hovering close to its all-time high.

PG The Procter & Gamble Company weekly Stock Chart

The market analysts are predicting PG shares to extend the bullish trend. This is because of stronger than expected growth in the third quarter along with upward guidance for the rest of the year.

Strong Q3 Results Supports Procter & Gamble Stock Price

The company has topped revenue and earnings estimates for the third quarter by $37 million and $0.13 per share. In addition, its revenue grew 7% compared to the year-ago period.

Procter & Gamble Stock...

Moreover, its organic sales jumped by 7% year over year, higher from analyst’s consensus estimate for organic growth of 5%. The sales growth is driven by a 10% gain in the beauty segment along with a 9% increase in the health care segment.

Volume growth and higher pricing supported sales growth. Its all 10 global categories reported positive organic growth in Q1.

Procter & Gamble Stock...

Above all, the company has turned strong revenue growth into big profits. PG’s core earnings per share grew 22% from the past year period. Earnings grew 24% on a currency-neutral basis.

Solid Outlook and Cash Returns are Catalysts for Share Price

Procter & Gamble is popular for offering sustainable growth in dividends. It has increased the quarterly dividend in the past 63 consecutive years. It currently offers a quarterly dividend of $0.74 per share, yielding around 2.5%.

Procter & Gamble Stock...

PG’s dividends are safe. This is due to its solid outlook for the full year. It expects mid-single-digit growth in organic sales for fiscal 2020. The core earnings growth guidance stands in the double-digit range. The company plans to return $7.5 billion to investors in the form of dividends and around $8 billion in share buybacks.

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Based in Saudi Arabia, Siraj has a strong understanding of and passion for accounting and finance. He has worked for international clients for many years on several projects related to the stock market, equity research and other business, accounting and finance related projects. Siraj is a published financial analyst on the world's leading websites including SeekingAlpha, TheStreet, MSN, and others.