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Johnson & Johnson (JNJ) Stock Sinks As Market Gains: What You Should Know
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Johnson & Johnson (JNJ - Free Report) closed at $159.90 in the latest trading session, marking a -0.07% move from the prior day. This change lagged the S&P 500's 0.93% gain on the day. Elsewhere, the Dow gained 0.56%, while the tech-heavy Nasdaq added 1.71%.
Heading into today, shares of the world's biggest maker of health care products had lost 0.48% over the past month, outpacing the Medical sector's loss of 1.62% and lagging the S&P 500's gain of 4.61% in that time.
Wall Street will be looking for positivity from Johnson & Johnson as it approaches its next earnings report date. This is expected to be July 20, 2023. On that day, Johnson & Johnson is projected to report earnings of $2.62 per share, which would represent year-over-year growth of 1.16%. Our most recent consensus estimate is calling for quarterly revenue of $24.66 billion, up 2.68% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $10.66 per share and revenue of $98.86 billion, which would represent changes of +5.02% and +4.12%, respectively, from the prior year.
Investors should also note any recent changes to analyst estimates for Johnson & Johnson. Recent revisions tend to reflect the latest near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 0.03% lower within the past month. Johnson & Johnson is currently sporting a Zacks Rank of #3 (Hold).
Investors should also note Johnson & Johnson's current valuation metrics, including its Forward P/E ratio of 15.01. This represents a no noticeable deviation compared to its industry's average Forward P/E of 15.01.
It is also worth noting that JNJ currently has a PEG ratio of 2.73. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. The Large Cap Pharmaceuticals was holding an average PEG ratio of 1.68 at yesterday's closing price.
The Large Cap Pharmaceuticals industry is part of the Medical sector. This industry currently has a Zacks Industry Rank of 77, which puts it in the top 31% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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Johnson & Johnson (JNJ) Stock Sinks As Market Gains: What You Should Know
Johnson & Johnson (JNJ - Free Report) closed at $159.90 in the latest trading session, marking a -0.07% move from the prior day. This change lagged the S&P 500's 0.93% gain on the day. Elsewhere, the Dow gained 0.56%, while the tech-heavy Nasdaq added 1.71%.
Heading into today, shares of the world's biggest maker of health care products had lost 0.48% over the past month, outpacing the Medical sector's loss of 1.62% and lagging the S&P 500's gain of 4.61% in that time.
Wall Street will be looking for positivity from Johnson & Johnson as it approaches its next earnings report date. This is expected to be July 20, 2023. On that day, Johnson & Johnson is projected to report earnings of $2.62 per share, which would represent year-over-year growth of 1.16%. Our most recent consensus estimate is calling for quarterly revenue of $24.66 billion, up 2.68% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $10.66 per share and revenue of $98.86 billion, which would represent changes of +5.02% and +4.12%, respectively, from the prior year.
Investors should also note any recent changes to analyst estimates for Johnson & Johnson. Recent revisions tend to reflect the latest near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 0.03% lower within the past month. Johnson & Johnson is currently sporting a Zacks Rank of #3 (Hold).
Investors should also note Johnson & Johnson's current valuation metrics, including its Forward P/E ratio of 15.01. This represents a no noticeable deviation compared to its industry's average Forward P/E of 15.01.
It is also worth noting that JNJ currently has a PEG ratio of 2.73. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. The Large Cap Pharmaceuticals was holding an average PEG ratio of 1.68 at yesterday's closing price.
The Large Cap Pharmaceuticals industry is part of the Medical sector. This industry currently has a Zacks Industry Rank of 77, which puts it in the top 31% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.