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Here's Why Johnson & Johnson (JNJ) Fell More Than Broader Market
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Johnson & Johnson (JNJ - Free Report) ended the recent trading session at $151.59, demonstrating a -0.52% swing from the preceding day's closing price. This change lagged the S&P 500's daily loss of 0.04%. On the other hand, the Dow registered a loss of 0.03%, and the technology-centric Nasdaq increased by 0.03%.
Shares of the world's biggest maker of health care products have depreciated by 4.47% over the course of the past month, underperforming the Medical sector's loss of 0.6% and the S&P 500's gain of 2.57%.
The upcoming earnings release of Johnson & Johnson will be of great interest to investors. The company's earnings report is expected on April 16, 2024. The company is predicted to post an EPS of $2.63, indicating a 1.87% decline compared to the equivalent quarter last year. Alongside, our most recent consensus estimate is anticipating revenue of $21.38 billion, indicating a 13.59% downward movement from the same quarter last year.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $10.65 per share and a revenue of $88.35 billion, representing changes of +7.36% and -5.02%, respectively, from the prior year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts 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.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
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. Over the past month, the Zacks Consensus EPS estimate has shifted 0.03% downward. Johnson & Johnson is holding a Zacks Rank of #3 (Hold) right now.
From a valuation perspective, Johnson & Johnson is currently exchanging hands at a Forward P/E ratio of 14.31. This indicates no noticeable deviation in contrast to its industry's Forward P/E of 14.31.
We can also see that JNJ currently has a PEG ratio of 2.56. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. The average PEG ratio for the Large Cap Pharmaceuticals industry stood at 1.74 at the close of the market yesterday.
The Large Cap Pharmaceuticals industry is part of the Medical sector. This group has a Zacks Industry Rank of 206, putting it in the bottom 19% 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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Here's Why Johnson & Johnson (JNJ) Fell More Than Broader Market
Johnson & Johnson (JNJ - Free Report) ended the recent trading session at $151.59, demonstrating a -0.52% swing from the preceding day's closing price. This change lagged the S&P 500's daily loss of 0.04%. On the other hand, the Dow registered a loss of 0.03%, and the technology-centric Nasdaq increased by 0.03%.
Shares of the world's biggest maker of health care products have depreciated by 4.47% over the course of the past month, underperforming the Medical sector's loss of 0.6% and the S&P 500's gain of 2.57%.
The upcoming earnings release of Johnson & Johnson will be of great interest to investors. The company's earnings report is expected on April 16, 2024. The company is predicted to post an EPS of $2.63, indicating a 1.87% decline compared to the equivalent quarter last year. Alongside, our most recent consensus estimate is anticipating revenue of $21.38 billion, indicating a 13.59% downward movement from the same quarter last year.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $10.65 per share and a revenue of $88.35 billion, representing changes of +7.36% and -5.02%, respectively, from the prior year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts 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.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
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. Over the past month, the Zacks Consensus EPS estimate has shifted 0.03% downward. Johnson & Johnson is holding a Zacks Rank of #3 (Hold) right now.
From a valuation perspective, Johnson & Johnson is currently exchanging hands at a Forward P/E ratio of 14.31. This indicates no noticeable deviation in contrast to its industry's Forward P/E of 14.31.
We can also see that JNJ currently has a PEG ratio of 2.56. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. The average PEG ratio for the Large Cap Pharmaceuticals industry stood at 1.74 at the close of the market yesterday.
The Large Cap Pharmaceuticals industry is part of the Medical sector. This group has a Zacks Industry Rank of 206, putting it in the bottom 19% 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.