Johnson & Johnson (JNJ) Expected to Announce Earnings of $1.79 Per Share
Brokerages predict that Johnson & Johnson (NYSE:JNJ) will report earnings per share of $1.79 for the current fiscal quarter, Zacks reports. Six analysts have issued estimates for Johnson & Johnson’s earnings. The highest EPS estimate is $1.83 and the lowest is $1.76. Johnson & Johnson reported earnings per share of $1.74 in the same quarter last year, which would suggest a positive year-over-year growth rate of 2.9%. The firm is expected to announce its next quarterly earnings results before the market opens on Tuesday, July 18th.
According to Zacks, analysts expect that Johnson & Johnson will report full-year earnings of $7.10 per share for the current financial year, with EPS estimates ranging from $7.05 to $7.16. For the next year, analysts forecast that the business will report earnings of $7.72 per share, with EPS estimates ranging from $7.47 to $7.95. Zacks Investment Research’s earnings per share averages are an average based on a survey of research analysts that that provide coverage for Johnson & Johnson.
Johnson & Johnson (NYSE:JNJ) last issued its quarterly earnings data on Tuesday, April 18th. The company reported $1.83 EPS for the quarter, topping analysts’ consensus estimates of $1.77 by $0.06. Johnson & Johnson had a net margin of 22.87% and a return on equity of 26.50%. The business had revenue of $17.77 billion during the quarter, compared to analysts’ expectations of $18.02 billion. During the same period last year, the company posted $1.68 EPS. The business’s revenue was up 1.6% on a year-over-year basis.
JNJ has been the subject of several research analyst reports. J P Morgan Chase & Co raised shares of Johnson & Johnson from a “neutral” rating to an “overweight” rating and increased their target price for the stock from $123.64 to $140.00 in a research note on Monday, May 15th. Vetr lowered shares of Johnson & Johnson from a “buy” rating to a “hold” rating and set a $128.82 target price for the company. in a research note on Monday, May 15th. BTIG Research reaffirmed a “hold” rating on shares of Johnson & Johnson in a research note on Wednesday, April 19th. Cowen and Company reaffirmed a “buy” rating and set a $143.00 target price (up previously from $138.00) on shares of Johnson & Johnson in a research note on Friday, May 19th. Finally, Morgan Stanley reaffirmed an “equal weight” rating and set a $135.00 target price (up previously from $130.00) on shares of Johnson & Johnson in a research note on Friday, May 19th. Eleven analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Johnson & Johnson has a consensus rating of “Hold” and an average price target of $133.52.
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Shares of Johnson & Johnson (NYSE:JNJ) traded up 0.56% during trading on Friday, hitting $132.60. 4,383,105 shares of the company’s stock were exchanged. The company has a market cap of $357.20 billion, a P/E ratio of 22.29 and a beta of 0.78. Johnson & Johnson has a 12-month low of $109.32 and a 12-month high of $137.00. The company has a 50-day moving average of $130.42 and a 200-day moving average of $122.68.
A number of hedge funds have recently modified their holdings of the stock. Artisan Partners Limited Partnership boosted its stake in shares of Johnson & Johnson by 3.7% in the fourth quarter. Artisan Partners Limited Partnership now owns 3,554,500 shares of the company’s stock valued at $409,514,000 after buying an additional 127,662 shares during the period. Cleararc Capital Inc. boosted its stake in shares of Johnson & Johnson by 1.1% in the fourth quarter. Cleararc Capital Inc. now owns 74,290 shares of the company’s stock valued at $8,559,000 after buying an additional 825 shares during the period. State Street Corp boosted its stake in shares of Johnson & Johnson by 3.3% in the fourth quarter. State Street Corp now owns 153,566,950 shares of the company’s stock valued at $17,692,455,000 after buying an additional 4,892,277 shares during the period. Horizon Investments LLC boosted its stake in shares of Johnson & Johnson by 92.8% in the fourth quarter. Horizon Investments LLC now owns 25,643 shares of the company’s stock valued at $2,955,000 after buying an additional 12,342 shares during the period. Finally, Northwest Wealth Management LLC purchased a new stake in shares of Johnson & Johnson during the fourth quarter valued at $336,000. 66.01% of the stock is currently owned by hedge funds and other institutional investors.
About Johnson & Johnson
Johnson & Johnson is a holding company, which is engaged in the research and development, manufacture and sale of a range of products in the healthcare field. It operates through three segments: Consumer, Pharmaceutical and Medical Devices. Its primary focus is products related to human health and well-being.
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