Deep Dive Into Procter & Gamble Stock Before Earnings

The stock tends to do well after earnings

Deputy Editor
Apr 16, 2024 at 12:28 PM
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Cincinnati-based manufacturing giant Proctor & Gamble Co (NYSE:PG) is slated to step into the earnings confessional before the open on Friday, April 19. The company is expected to report fiscal third-quarter adjusted earnings of $1.42 per share on revenue of $20.5 billion -- a 3.7% and 2.1% year-over-year increase, respectively. 

Looking at PG's earnings history, there's a precedent for positive post-earnings returns, with six of its eight next-day sessions ending higher. The last eight quarters produced an average post-earnings move of 3.2%, regardless of direction. This time around, options traders are expecting a slightly larger move of 3.8%. 

Procter & Gamble stock is up 0.6% at $156.33 at last check. Short-term pressure has popped up at the $157 region, but the security has been able to maintain itself above $155. PG is up 6.7% in 2024.

PG Chart April 162024

Short-term options traders are more bearish than usual. This is per PG's Schaeffer's put/call open interest ratio (SOIR) of 0.94, which stands in the 94th percentile of annual reading. This means an unwinding of this pessimism could generate tailwinds for Procter & Gamble stock.

 

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