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Johnson & Johnson (NYSE: JNJ) Defies Bearish Expectations and Displays Strong Future Potential

In the latest trading session, 0.51 million Johnson & Johnson (NYSE:JNJ) shares changed hands as the company’s beta touched 0.54. With the company’s most recent per share price at $162.41 changed hands at -$0.06 or -0.04% at last look, the market valuation stands at $396.63B. JNJ’s current price is a discount, trading about -11.47% off its 52-week high of $181.04. The share price had its 52-week low at $150.11, which suggests the last value was 7.57% up since then. When we look at Johnson & Johnson’s average trading volume, we note the 10-day average is 8.24 million shares, with the 3-month average coming to 22.82 million.

Analysts gave the Johnson & Johnson (JNJ) stock a consensus recommendation rating of an Overweight, calculated at a mean rating of 2.40. If we narrow down to specifics, the data shows that 0 out of 24 analysts rate the stock as a Sell, with a further 2 assigning it an Overweight rating. Of the remaining, 15 recommended JNJ as a Hold, 6 felt it is a Buy and 1 rated the stock as Underweight. Johnson & Johnson’s EPS for the current quarter is expected to be $2.51.

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Johnson & Johnson (NYSE:JNJ) trade information

Instantly JNJ was in red as seen in intraday trades today. With action -0.72%, the performance over the past five days has been red. The drop to weekly highs of 165.27 on Monday, 09/18/23 subtracted -0.04% to the stock’s daily price. The company’s shares are showing year-to-date downside of -8.06%, with the 5-day performance at -0.72% in the red. However, in the 30-day time frame, Johnson & Johnson (NYSE:JNJ) is -5.84% down. Looking at the short shares, we see there were 32.86 million shares sold at short interest cover period of 0.71 days.

The consensus price target for the stock as assigned by Wall Street analysts is $180.00, meaning bulls need an upside of 9.77% from its recent market value. According to analyst projections, JNJ’s forecast low is $158.00 with $215.00 as the target high. To hit the forecast high, the stock’s price needs a -32.38% plunge from its current level, while the stock would need to tank 2.72% for it to hit the projected low.

Johnson & Johnson (JNJ) estimates and forecasts

Data shows that the Johnson & Johnson share is performing relatively much better than most of its peers within the same industry. As can be gleaned from the statistics, the company’s share value shot 5.54% over the past 6 months, a -1.18% in annual growth rate that is considerably higher than the industry average of -12.50%. Moreover, analysts have looked to higher expectations by upgrading its fiscal year 2023 revenue estimates. The rating firms predict current quarter revenue for Johnson & Johnson will rise 12.60%, while the growth in revenue is estimated to hit 24.40% for the next quarter. Year-over-year growth is forecast to reach -10.90% down from the last financial year.

Consensus estimates given by 12 financial analysts project the company’s revenue in the current quarter to hit an average of $21.04 billion. 12 analysts are of the opinion that Johnson & Johnson’s revenue for the quarter ending Dec 2023 will be $21.09 billion. The company’s revenue for the corresponding quarters a year ago was $23.79 billion and $23.71 billion respectively. According to analysts, the company will likely register a growth in its current quarter sales, forecast at -11.60%. The estimates for the next quarter sales put growth at -11.00%.

Looking at the company’s year-on-year earnings, data shows that the past 5-year has an earnings growth rate of 5.30%. The 2023 estimates are for Johnson & Johnson earnings to decrease by -13.70%, but the outlook for the next 5-year period is at 5.75% per year.

JNJ Dividends

Johnson & Johnson is expected to release its next quarterly earnings report on October 17. The 2.93% annual yield figure for the share gives it an annual dividend of 4.76. It is important to note, however, that the 2.93% dividend yield ratio should serve as a guide only, as you should also take into consideration many other aspects of a company’s operations and fundamentals before making any investment decision.

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