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Johnson & Johnson (JNJ) Stock Drops Despite Market Gains: Important Facts to Note
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Johnson & Johnson (JNJ - Free Report) closed at $162.78 in the latest trading session, marking a -0.27% move from the prior day. The stock fell short of the S&P 500, which registered a gain of 0.25% for the day. On the other hand, the Dow registered a gain of 0.2%, and the technology-centric Nasdaq increased by 0.56%.
The world's biggest maker of health care products's stock has dropped by 0.84% in the past month, exceeding the Medical sector's loss of 1.51% and lagging the S&P 500's gain of 1.65%.
Analysts and investors alike will be keeping a close eye on the performance of Johnson & Johnson in its upcoming earnings disclosure. The company's earnings report is set to go public on October 15, 2024. The company is forecasted to report an EPS of $2.19, showcasing a 17.67% downward movement from the corresponding quarter of the prior year. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $22.17 billion, up 3.85% from the year-ago period.
Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of $10.02 per share and revenue of $88.51 billion. These totals would mark changes of +1.01% and -4.85%, respectively, from last year.
Investors should also note any recent changes to analyst estimates for Johnson & Johnson. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 0.51% lower within the past month. Johnson & Johnson is currently a Zacks Rank #4 (Sell).
Valuation is also important, so investors should note that Johnson & Johnson has a Forward P/E ratio of 16.29 right now. Its industry sports an average Forward P/E of 15.91, so one might conclude that Johnson & Johnson is trading at a premium comparatively.
Meanwhile, JNJ's PEG ratio is currently 2.69. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. The Large Cap Pharmaceuticals industry had an average PEG ratio of 1.68 as trading concluded yesterday.
The Large Cap Pharmaceuticals industry is part of the Medical sector. This industry currently has a Zacks Industry Rank of 80, which puts it in the top 32% of all 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.
To follow JNJ in the coming trading sessions, be sure to utilize Zacks.com.
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Johnson & Johnson (JNJ) Stock Drops Despite Market Gains: Important Facts to Note
Johnson & Johnson (JNJ - Free Report) closed at $162.78 in the latest trading session, marking a -0.27% move from the prior day. The stock fell short of the S&P 500, which registered a gain of 0.25% for the day. On the other hand, the Dow registered a gain of 0.2%, and the technology-centric Nasdaq increased by 0.56%.
The world's biggest maker of health care products's stock has dropped by 0.84% in the past month, exceeding the Medical sector's loss of 1.51% and lagging the S&P 500's gain of 1.65%.
Analysts and investors alike will be keeping a close eye on the performance of Johnson & Johnson in its upcoming earnings disclosure. The company's earnings report is set to go public on October 15, 2024. The company is forecasted to report an EPS of $2.19, showcasing a 17.67% downward movement from the corresponding quarter of the prior year. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $22.17 billion, up 3.85% from the year-ago period.
Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of $10.02 per share and revenue of $88.51 billion. These totals would mark changes of +1.01% and -4.85%, respectively, from last year.
Investors should also note any recent changes to analyst estimates for Johnson & Johnson. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 0.51% lower within the past month. Johnson & Johnson is currently a Zacks Rank #4 (Sell).
Valuation is also important, so investors should note that Johnson & Johnson has a Forward P/E ratio of 16.29 right now. Its industry sports an average Forward P/E of 15.91, so one might conclude that Johnson & Johnson is trading at a premium comparatively.
Meanwhile, JNJ's PEG ratio is currently 2.69. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. The Large Cap Pharmaceuticals industry had an average PEG ratio of 1.68 as trading concluded yesterday.
The Large Cap Pharmaceuticals industry is part of the Medical sector. This industry currently has a Zacks Industry Rank of 80, which puts it in the top 32% of all 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.
To follow JNJ in the coming trading sessions, be sure to utilize Zacks.com.