Johnson & Johnson (NYSE:JNJ) Issues FY 2024 Earnings Guidance

Johnson & Johnson (NYSE:JNJGet Free Report) issued an update on its FY 2024 earnings guidance on Tuesday morning. The company provided EPS guidance of 10.550-10.750 for the period, compared to the consensus EPS estimate of 10.670. The company issued revenue guidance of $87.8 billion-$88.6 billion, compared to the consensus revenue estimate of $88.0 billion.

Johnson & Johnson Stock Performance

Shares of JNJ opened at $158.76 on Wednesday. The company has a quick ratio of 0.96, a current ratio of 1.21 and a debt-to-equity ratio of 0.37. The business’s 50 day moving average price is $157.47 and its 200-day moving average price is $159.25. Johnson & Johnson has a 52 week low of $144.95 and a 52 week high of $175.97. The stock has a market cap of $382.18 billion, a P/E ratio of 11.50, a P/E/G ratio of 2.68 and a beta of 0.53.

Johnson & Johnson (NYSE:JNJGet Free Report) last issued its quarterly earnings results on Tuesday, January 23rd. The company reported $2.29 EPS for the quarter, topping analysts’ consensus estimates of $2.28 by $0.01. Johnson & Johnson had a return on equity of 36.75% and a net margin of 37.79%. The firm had revenue of $21.40 billion for the quarter, compared to analysts’ expectations of $21.02 billion. During the same period in the previous year, the firm posted $2.35 EPS. The business’s revenue for the quarter was down 9.7% compared to the same quarter last year. Equities research analysts anticipate that Johnson & Johnson will post 10.66 earnings per share for the current fiscal year.

Johnson & Johnson Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, March 5th. Shareholders of record on Tuesday, February 20th will be paid a dividend of $1.19 per share. The ex-dividend date of this dividend is Friday, February 16th. This represents a $4.76 annualized dividend and a yield of 3.00%. Johnson & Johnson’s dividend payout ratio is 34.47%.

Wall Street Analyst Weigh In

Several analysts have commented on the company. Morgan Stanley cut their target price on Johnson & Johnson from $170.00 to $169.00 and set an equal weight rating on the stock in a research note on Wednesday, January 24th. Cantor Fitzgerald reiterated an overweight rating and set a $215.00 target price on shares of Johnson & Johnson in a research note on Tuesday, January 23rd. Wells Fargo & Company downgraded Johnson & Johnson from an overweight rating to an equal weight rating and cut their target price for the company from $170.00 to $163.00 in a research note on Wednesday, December 13th. Barclays raised their price target on Johnson & Johnson from $158.00 to $162.00 and gave the stock an equal weight rating in a research note on Thursday, October 12th. Finally, Royal Bank of Canada restated an outperform rating and issued a $181.00 price target on shares of Johnson & Johnson in a research note on Wednesday, January 24th. Eight equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of Hold and an average price target of $167.87.

Read Our Latest Analysis on JNJ

Institutional Trading of Johnson & Johnson

A number of large investors have recently modified their holdings of JNJ. Moneta Group Investment Advisors LLC boosted its holdings in shares of Johnson & Johnson by 90,144.4% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 54,386,720 shares of the company’s stock valued at $9,607,414,000 after purchasing an additional 54,326,454 shares during the period. Norges Bank bought a new position in Johnson & Johnson in the fourth quarter worth approximately $4,609,399,000. Morgan Stanley raised its stake in Johnson & Johnson by 12.0% in the fourth quarter. Morgan Stanley now owns 42,224,521 shares of the company’s stock worth $7,458,962,000 after buying an additional 4,521,062 shares in the last quarter. Barclays PLC raised its stake in Johnson & Johnson by 61.0% in the second quarter. Barclays PLC now owns 11,287,765 shares of the company’s stock worth $1,868,351,000 after buying an additional 4,278,512 shares in the last quarter. Finally, Imprint Wealth LLC raised its stake in Johnson & Johnson by 17,087.7% in the second quarter. Imprint Wealth LLC now owns 2,913,480 shares of the company’s stock worth $291,348,000 after buying an additional 2,896,529 shares in the last quarter. Hedge funds and other institutional investors own 68.40% of the company’s stock.

Johnson & Johnson Company Profile

(Get Free Report)

Johnson & Johnson, together with its subsidiaries, researches, develops, manufactures, and sells various products in the healthcare field worldwide. The company's Consumer Health segment provides skin health/beauty products under the AVEENO, CLEAN & CLEAR, DR. CI:LABO, NEUTROGENA, and OGX brands; baby care products under the JOHNSON'S and AVEENO Baby brands; oral care products under the LISTERINE brand; TYLENOL acetaminophen products; SUDAFED cold, flu, and allergy products; BENADRYL and ZYRTEC allergy products; MOTRIN IB ibuprofen products; NICORETTE smoking cessation products; and PEPCID acid reflux products.

See Also

Earnings History and Estimates for Johnson & Johnson (NYSE:JNJ)

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