I am continuing to hold P&G, Procter & Gamble (PG:NYSE) at 50% of my projected goal despite the profit miss. Foruth Quarter earning fell to $2.19 Billion or 71 cents a share, down from 80 cents a year ago. Consensus estimates were 70-78 cents per share with the average being 73 cents. So the miss was only 2 cents per share.
Also sales rose 5% to $18.93 Billion.
Going forward PG is forecasing first quarter earnings of 97 cents to $1.01 and said Organic sales were to grow up to 5 percent.
Headwind is the exchange rate, which is expected to reduce net sales growth by about 3 percent.
PG was down $2.16 or 3.48% ($59.90) at the time of this posting. Dividend yield is 3.11%.
Dividend.com has been recommending the stock since Sept 1, 2009.