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Johnson & Johnson (JNJ) Ascends While Market Falls: Some Facts to Note
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Johnson & Johnson (JNJ - Free Report) closed the most recent trading day at $161.63, moving +0.06% from the previous trading session. The stock's performance was ahead of the S&P 500's daily loss of 0.15%. On the other hand, the Dow registered a loss of 0.42%, and the technology-centric Nasdaq increased by 0.09%.
Prior to today's trading, shares of the world's biggest maker of health care products had gained 4.17% over the past month. This has lagged the Medical sector's gain of 6.58% and outpaced the S&P 500's gain of 3.5% in that time.
The upcoming earnings release of Johnson & Johnson will be of great interest to investors. The company's earnings report is expected on January 23, 2024. On that day, Johnson & Johnson is projected to report earnings of $2.32 per share, which would represent a year-over-year decline of 1.28%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $20.91 billion, down 11.79% from the year-ago period.
Investors should also take note of any recent adjustments to analyst estimates for Johnson & Johnson. These revisions help to show the ever-changing nature of near-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 benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 1.17% lower. Currently, Johnson & Johnson is carrying a Zacks Rank of #3 (Hold).
Looking at its valuation, Johnson & Johnson is holding a Forward P/E ratio of 15.06. This indicates a premium in contrast to its industry's Forward P/E of 14.45.
We can additionally observe that JNJ currently boasts a PEG ratio of 3.07. 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 1.9 as of yesterday's close.
The Large Cap Pharmaceuticals industry is part of the Medical sector. At present, this industry carries a Zacks Industry Rank of 156, placing it within the bottom 39% of over 250 industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within 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) Ascends While Market Falls: Some Facts to Note
Johnson & Johnson (JNJ - Free Report) closed the most recent trading day at $161.63, moving +0.06% from the previous trading session. The stock's performance was ahead of the S&P 500's daily loss of 0.15%. On the other hand, the Dow registered a loss of 0.42%, and the technology-centric Nasdaq increased by 0.09%.
Prior to today's trading, shares of the world's biggest maker of health care products had gained 4.17% over the past month. This has lagged the Medical sector's gain of 6.58% and outpaced the S&P 500's gain of 3.5% in that time.
The upcoming earnings release of Johnson & Johnson will be of great interest to investors. The company's earnings report is expected on January 23, 2024. On that day, Johnson & Johnson is projected to report earnings of $2.32 per share, which would represent a year-over-year decline of 1.28%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $20.91 billion, down 11.79% from the year-ago period.
Investors should also take note of any recent adjustments to analyst estimates for Johnson & Johnson. These revisions help to show the ever-changing nature of near-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 benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 1.17% lower. Currently, Johnson & Johnson is carrying a Zacks Rank of #3 (Hold).
Looking at its valuation, Johnson & Johnson is holding a Forward P/E ratio of 15.06. This indicates a premium in contrast to its industry's Forward P/E of 14.45.
We can additionally observe that JNJ currently boasts a PEG ratio of 3.07. 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 1.9 as of yesterday's close.
The Large Cap Pharmaceuticals industry is part of the Medical sector. At present, this industry carries a Zacks Industry Rank of 156, placing it within the bottom 39% of over 250 industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within 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.