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Johnson & Johnson (JNJ) Releases FY 2019 Earnings Guidance
Posted by Michael Taylor on Apr 16th, 2019
Johnson & Johnson (NYSE:JNJ) updated its FY 2019 earnings guidance on Tuesday. The company provided earnings per share (EPS) guidance of $8.53-8.63 for the period, compared to the Thomson Reuters consensus estimate of $8.58. The company issued revenue guidance of $80.4-81.2 billion, compared to the consensus revenue estimate of $81.05 billion.
Shares of JNJ stock opened at $136.52 on Tuesday. Johnson & Johnson has a 12 month low of $118.62 and a 12 month high of $148.99. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.20 and a current ratio of 1.47. The company has a market cap of $366.27 billion, a price-to-earnings ratio of 16.69, a P/E/G ratio of 2.08 and a beta of 0.68.
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Johnson & Johnson (NYSE:JNJ) last announced its quarterly earnings results on Tuesday, January 22nd. The company reported $1.97 EPS for the quarter, beating the consensus estimate of $1.95 by $0.02. Johnson & Johnson had a return on equity of 35.63% and a net margin of 18.75%. The company had revenue of $20.39 billion for the quarter, compared to the consensus estimate of $20.27 billion. During the same quarter last year, the company posted $1.74 earnings per share. The company's revenue for the quarter was up 1.0% compared to the same quarter last year. On average, sell-side analysts anticipate that Johnson & Johnson will post 8.58 earnings per share for the current fiscal year.
Johnson & Johnson declared that its Board of Directors has approved a stock repurchase plan on Monday, December 17th that authorizes the company to buyback $5.00 billion in outstanding shares. This buyback authorization authorizes the company to reacquire up to 1.5% of its stock through open market purchases. Stock buyback plans are usually an indication that the company's leadership believes its stock is undervalued.
JNJ has been the topic of several analyst reports. Zacks Investment Research downgraded Johnson & Johnson from a hold rating to a sell rating in a report on Wednesday, January 16th. Morgan Stanley reduced their price objective on Johnson & Johnson from $153.00 to $130.00 and set an equal weight rating for the company in a research report on Wednesday, January 2nd. Wells Fargo & Co reissued an outperform rating and issued a $152.00 price objective (down from $162.00) on shares of Johnson & Johnson in a research report on Monday, January 14th. Barclays reissued an equal weight rating and issued a $135.00 price objective (down from $137.00) on shares of Johnson & Johnson in a research report on Wednesday, January 23rd. Finally, Citigroup reduced their price objective on Johnson & Johnson from $148.00 to $139.00 and set a neutral rating for the company in a research report on Wednesday, January 2nd. Six research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. The company presently has a consensus rating of Buy and an average target price of $143.58.
A number of hedge funds have recently modified their holdings of JNJ. Oregon Public Employees Retirement Fund lifted its position in Johnson & Johnson by 11,576.1% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 74,757,633 shares of the company's stock worth $579,000 after purchasing an additional 74,117,373 shares during the period. BlackRock Inc. lifted its holdings in shares of Johnson & Johnson by 1.9% during the fourth quarter. BlackRock Inc. now owns 182,903,344 shares of the company's stock valued at $23,603,679,000 after acquiring an additional 3,486,924 shares during the period. Geode Capital Management LLC lifted its holdings in shares of Johnson & Johnson by 8.2% during the fourth quarter. Geode Capital Management LLC now owns 36,364,874 shares of the company's stock valued at $4,685,372,000 after acquiring an additional 2,741,351 shares during the period. Northern Trust Corp lifted its holdings in shares of Johnson & Johnson by 3.6% during the fourth quarter. Northern Trust Corp now owns 34,815,401 shares of the company's stock valued at $4,492,928,000 after acquiring an additional 1,202,514 shares during the period. Finally, California Public Employees Retirement System lifted its holdings in shares of Johnson & Johnson by 13.7% during the fourth quarter. California Public Employees Retirement System now owns 7,727,663 shares of the company's stock valued at $997,255,000 after acquiring an additional 930,835 shares during the period. 67.32% of the stock is owned by hedge funds and other institutional investors.
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About Johnson & Johnson
Johnson & Johnson, together with its subsidiaries, researches and develops, manufactures, and sells various products in the health care field worldwide. It operates in three segments: Consumer, Pharmaceutical, and Medical Devices. The Consumer segment offers baby care products under the JOHNSON'S brand; oral care products under the LISTERINE brand; beauty products under the AVEENO, CLEAN & CLEAR, DABAO, JOHNSON'S Adult, LE PETITE MARSEILLAIS, NEUTROGENA, and OGX brands; over-the-counter medicines, including acetaminophen products under the TYLENOL brand; cold, flu, and allergy products under the SUDAFED brand; allergy products under the BENADRYL and ZYRTEC brands; ibuprofen products under the MOTRIN IB brand; and acid reflux products under the PEPCID brand.
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