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Johnson & Johnson (JNJ) Stock Drops Despite Market Gains: Important Facts to Note
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The latest trading session saw Johnson & Johnson (JNJ - Free Report) ending at $145.97, denoting a -1.24% adjustment from its last day's close. The stock's change was less than the S&P 500's daily gain of 1.19%. On the other hand, the Dow registered a gain of 0.25%, and the technology-centric Nasdaq increased by 1.96%.
The the stock of world's biggest maker of health care products has fallen by 0.62% in the past month, lagging the Medical sector's gain of 3.54% and the S&P 500's gain of 3.35%.
The investment community will be closely monitoring the performance of Johnson & Johnson in its forthcoming earnings report. The company is scheduled to release its earnings on July 17, 2024. In that report, analysts expect Johnson & Johnson to post earnings of $2.73 per share. This would mark a year-over-year decline of 2.5%. Alongside, our most recent consensus estimate is anticipating revenue of $22.37 billion, indicating a 12.38% downward movement from the same quarter last year.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $10.64 per share and a revenue of $88.28 billion, indicating changes of +7.26% and -5.1%, respectively, from the former year.
Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for Johnson & Johnson. Recent revisions tend to reflect the latest near-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.
The Zacks Rank system, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Over the past month, there's been a 0.04% fall in the Zacks Consensus EPS estimate. Right now, Johnson & Johnson possesses a Zacks Rank of #3 (Hold).
Digging into valuation, Johnson & Johnson currently has a Forward P/E ratio of 13.89. This signifies a discount in comparison to the average Forward P/E of 14.4 for its industry.
It is also worth noting that JNJ currently has a PEG ratio of 2.45. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. The Large Cap Pharmaceuticals industry currently had an average PEG ratio of 1.64 as of yesterday's close.
The Large Cap Pharmaceuticals industry is part of the Medical sector. With its current Zacks Industry Rank of 151, this industry ranks in the bottom 41% of all industries, numbering over 250.
The Zacks Industry Rank is ordered from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. 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 Drops Despite Market Gains: Important Facts to Note
The latest trading session saw Johnson & Johnson (JNJ - Free Report) ending at $145.97, denoting a -1.24% adjustment from its last day's close. The stock's change was less than the S&P 500's daily gain of 1.19%. On the other hand, the Dow registered a gain of 0.25%, and the technology-centric Nasdaq increased by 1.96%.
The the stock of world's biggest maker of health care products has fallen by 0.62% in the past month, lagging the Medical sector's gain of 3.54% and the S&P 500's gain of 3.35%.
The investment community will be closely monitoring the performance of Johnson & Johnson in its forthcoming earnings report. The company is scheduled to release its earnings on July 17, 2024. In that report, analysts expect Johnson & Johnson to post earnings of $2.73 per share. This would mark a year-over-year decline of 2.5%. Alongside, our most recent consensus estimate is anticipating revenue of $22.37 billion, indicating a 12.38% downward movement from the same quarter last year.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $10.64 per share and a revenue of $88.28 billion, indicating changes of +7.26% and -5.1%, respectively, from the former year.
Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for Johnson & Johnson. Recent revisions tend to reflect the latest near-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.
The Zacks Rank system, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Over the past month, there's been a 0.04% fall in the Zacks Consensus EPS estimate. Right now, Johnson & Johnson possesses a Zacks Rank of #3 (Hold).
Digging into valuation, Johnson & Johnson currently has a Forward P/E ratio of 13.89. This signifies a discount in comparison to the average Forward P/E of 14.4 for its industry.
It is also worth noting that JNJ currently has a PEG ratio of 2.45. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. The Large Cap Pharmaceuticals industry currently had an average PEG ratio of 1.64 as of yesterday's close.
The Large Cap Pharmaceuticals industry is part of the Medical sector. With its current Zacks Industry Rank of 151, this industry ranks in the bottom 41% of all industries, numbering over 250.
The Zacks Industry Rank is ordered from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. 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.