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New to Investing? This 1 Consumer Staples Stock Could Be the Perfect Starting Point

Building an investment portfolio from scratch can be difficult, especially if you're new to investing. It's easy to feel overwhelmed with so many different investment options out there, but focusing on stocks that are set to outperform the market over the next 12 months is an excellent place to start.

Now, let's take a deep dive into a great stock that could be just the right addition to your portfolio.

Why You Should Pay Attention to Procter & Gamble (PG)

Headquartered in Cincinnati, OH, The Procter & Gamble Company, also referred to as Procter & Gamble or P&G, is a branded consumer products company which markets its products in more than 180 countries primarily through mass merchandisers, grocery stores, membership club stores, drug stores, department stores, distributors, baby stores, specialty beauty stores, e-commerce, high-frequency stores, pharmacies, electronics stores and professional channels. It has operations in approximately 70 countries. The company has five reportable segments

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Since being added to the Zacks Focus List on March 23, 2020 at $102.43 per share, shares of PG have increased 61.15% to $165.07.

11 analysts revised their earnings estimate higher in the last 60 days for fiscal 2024, while the Zacks Consensus Estimate has increased $0.10 to $6.55. PG also boasts an average earnings surprise of 6.5%.

Earnings for Procter & Gamble are forecasted to see growth of 11% for the current fiscal year as well.

Since stock prices respond to earnings estimate revisions, it can be very profitable to buy stocks with an increased earnings outlook. By buying a Focus List stock like PG, then, you're likely getting into a company whose future earnings estimates will be raised, potentially leading to price momentum.

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Procter & Gamble Company (The) (PG) : Free Stock Analysis Report

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Zacks Investment Research