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Johnson & Johnson (JNJ) Stock Declines While Market Improves: Some Information for Investors
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The latest trading session saw Johnson & Johnson (JNJ - Free Report) ending at $147.19, denoting a -1.29% adjustment from its last day's close. This move lagged the S&P 500's daily gain of 0.09%. Meanwhile, the Dow experienced a drop of 0.1%, and the technology-dominated Nasdaq saw an increase of 0.16%.
Prior to today's trading, shares of the world's biggest maker of health care products had gained 1.46% over the past month. This has lagged the Medical sector's gain of 2.3% and the S&P 500's gain of 2.83% in that time.
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 July 17, 2024. The company's upcoming EPS is projected at $2.73, signifying a 2.5% drop compared to the same quarter of the previous year. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $22.38 billion, down 12.32% from the year-ago period.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $10.63 per share and revenue of $88.38 billion, indicating changes of +7.16% and -4.99%, respectively, compared to the previous year.
Investors should also pay attention to any latest changes in analyst estimates for Johnson & Johnson. These recent revisions tend to reflect the evolving nature of short-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. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 0.08% lower. As of now, Johnson & Johnson holds a Zacks Rank of #3 (Hold).
From a valuation perspective, Johnson & Johnson is currently exchanging hands at a Forward P/E ratio of 14.02. This valuation marks a discount compared to its industry's average Forward P/E of 14.7.
It is also worth noting that JNJ currently has a PEG ratio of 2.48. 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 1.8 at the close of the market yesterday.
The Large Cap Pharmaceuticals industry is part of the Medical sector. With its current Zacks Industry Rank of 81, this industry ranks in the top 33% of all industries, numbering over 250.
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.
Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.
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Johnson & Johnson (JNJ) Stock Declines While Market Improves: Some Information for Investors
The latest trading session saw Johnson & Johnson (JNJ - Free Report) ending at $147.19, denoting a -1.29% adjustment from its last day's close. This move lagged the S&P 500's daily gain of 0.09%. Meanwhile, the Dow experienced a drop of 0.1%, and the technology-dominated Nasdaq saw an increase of 0.16%.
Prior to today's trading, shares of the world's biggest maker of health care products had gained 1.46% over the past month. This has lagged the Medical sector's gain of 2.3% and the S&P 500's gain of 2.83% in that time.
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 July 17, 2024. The company's upcoming EPS is projected at $2.73, signifying a 2.5% drop compared to the same quarter of the previous year. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $22.38 billion, down 12.32% from the year-ago period.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $10.63 per share and revenue of $88.38 billion, indicating changes of +7.16% and -4.99%, respectively, compared to the previous year.
Investors should also pay attention to any latest changes in analyst estimates for Johnson & Johnson. These recent revisions tend to reflect the evolving nature of short-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. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 0.08% lower. As of now, Johnson & Johnson holds a Zacks Rank of #3 (Hold).
From a valuation perspective, Johnson & Johnson is currently exchanging hands at a Forward P/E ratio of 14.02. This valuation marks a discount compared to its industry's average Forward P/E of 14.7.
It is also worth noting that JNJ currently has a PEG ratio of 2.48. 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 1.8 at the close of the market yesterday.
The Large Cap Pharmaceuticals industry is part of the Medical sector. With its current Zacks Industry Rank of 81, this industry ranks in the top 33% of all industries, numbering over 250.
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.
Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.