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Johnson & Johnson (JNJ) Increases Yet Falls Behind Market: What Investors Need to Know
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The most recent trading session ended with Johnson & Johnson (JNJ - Free Report) standing at $155.44, reflecting a +0.18% shift from the previouse trading day's closing. This move lagged the S&P 500's daily gain of 0.45%.
The investment community will be paying close attention to the earnings performance of Johnson & Johnson in its upcoming release. The company is slated to reveal its earnings on January 23, 2024. The company's earnings per share (EPS) are projected to be $2.33, reflecting a 0.85% decrease from the same quarter last year. At the same time, our most recent consensus estimate is projecting a revenue of $20.91 billion, reflecting a 11.79% fall from the equivalent quarter last year.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $10 per share and a revenue of $84.67 billion, representing changes of -1.48% and -10.82%, respectively, from the prior year.
It's also important for investors to be aware of any recent modifications to analyst estimates for Johnson & Johnson. These revisions help to show the ever-changing nature of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has shifted 1.29% downward. Currently, Johnson & Johnson is carrying a Zacks Rank of #3 (Hold).
In terms of valuation, Johnson & Johnson is currently trading at a Forward P/E ratio of 15.51. This represents a discount compared to its industry's average Forward P/E of 15.69.
It's also important to note that JNJ currently trades at a PEG ratio of 3.16. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. JNJ's industry had an average PEG ratio of 2.17 as of yesterday's close.
The Large Cap Pharmaceuticals industry is part of the Medical sector. This industry, currently bearing a Zacks Industry Rank of 54, finds itself in the top 22% echelons of all 250+ industries.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.
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Johnson & Johnson (JNJ) Increases Yet Falls Behind Market: What Investors Need to Know
The most recent trading session ended with Johnson & Johnson (JNJ - Free Report) standing at $155.44, reflecting a +0.18% shift from the previouse trading day's closing. This move lagged the S&P 500's daily gain of 0.45%.
The investment community will be paying close attention to the earnings performance of Johnson & Johnson in its upcoming release. The company is slated to reveal its earnings on January 23, 2024. The company's earnings per share (EPS) are projected to be $2.33, reflecting a 0.85% decrease from the same quarter last year. At the same time, our most recent consensus estimate is projecting a revenue of $20.91 billion, reflecting a 11.79% fall from the equivalent quarter last year.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $10 per share and a revenue of $84.67 billion, representing changes of -1.48% and -10.82%, respectively, from the prior year.
It's also important for investors to be aware of any recent modifications to analyst estimates for Johnson & Johnson. These revisions help to show the ever-changing nature of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has shifted 1.29% downward. Currently, Johnson & Johnson is carrying a Zacks Rank of #3 (Hold).
In terms of valuation, Johnson & Johnson is currently trading at a Forward P/E ratio of 15.51. This represents a discount compared to its industry's average Forward P/E of 15.69.
It's also important to note that JNJ currently trades at a PEG ratio of 3.16. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. JNJ's industry had an average PEG ratio of 2.17 as of yesterday's close.
The Large Cap Pharmaceuticals industry is part of the Medical sector. This industry, currently bearing a Zacks Industry Rank of 54, finds itself in the top 22% echelons of all 250+ industries.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.