Johnson & Johnson to Post FY2024 Earnings of $9.97 Per Share, Cantor Fitzgerald Forecasts (NYSE:JNJ)

Johnson & Johnson (NYSE:JNJ) – Equities researchers at Cantor Fitzgerald lifted their FY2024 earnings per share estimates for shares of Johnson & Johnson in a note issued to investors on Thursday, July 18th. Cantor Fitzgerald analyst L. Chen now anticipates that the company will earn $9.97 per share for the year, up from their prior forecast of $9.91. Cantor Fitzgerald currently has a “Overweight” rating and a $215.00 price target on the stock. The consensus estimate for Johnson & Johnson’s current full-year earnings is $10.07 per share.

A number of other equities research analysts have also issued reports on JNJ. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $175.00 target price on shares of Johnson & Johnson in a research note on Thursday, July 18th. TD Cowen reduced their price target on Johnson & Johnson from $195.00 to $185.00 and set a “buy” rating on the stock in a research note on Thursday, July 18th. StockNews.com raised Johnson & Johnson from a “buy” rating to a “strong-buy” rating in a research note on Sunday, June 30th. Sanford C. Bernstein increased their price target on Johnson & Johnson from $161.00 to $171.00 in a research note on Thursday, July 18th. Finally, HSBC raised Johnson & Johnson from a “hold” rating to a “buy” rating and increased their price target for the stock from $169.00 to $170.00 in a research note on Thursday, April 18th. Seven investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $173.00.

Johnson & Johnson Price Performance

JNJ stock opened at $152.33 on Monday. Johnson & Johnson has a 1 year low of $143.13 and a 1 year high of $175.97. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.94 and a current ratio of 1.17. The stock’s 50 day moving average price is $148.44 and its 200 day moving average price is $153.18. The firm has a market cap of $366.61 billion, a P/E ratio of 9.50, a PEG ratio of 2.85 and a beta of 0.52.

Johnson & Johnson (NYSE:JNJ) last posted its earnings results on Wednesday, July 17th. The company reported $2.82 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.71 by $0.11. Johnson & Johnson had a return on equity of 36.79% and a net margin of 46.34%. The firm had revenue of $22.45 billion for the quarter, compared to analyst estimates of $22.33 billion. During the same quarter in the prior year, the company earned $2.80 EPS. Johnson & Johnson’s revenue was up 4.3% on a year-over-year basis.

Institutional Trading of Johnson & Johnson

Several large investors have recently modified their holdings of JNJ. Pathway Financial Advisors LLC lifted its position in shares of Johnson & Johnson by 4.3% during the fourth quarter. Pathway Financial Advisors LLC now owns 5,438 shares of the company’s stock worth $852,000 after purchasing an additional 226 shares during the last quarter. Daiwa Securities Group Inc. lifted its position in shares of Johnson & Johnson by 5.5% during the fourth quarter. Daiwa Securities Group Inc. now owns 297,850 shares of the company’s stock worth $46,685,000 after purchasing an additional 15,490 shares during the last quarter. Drive Wealth Management LLC lifted its position in shares of Johnson & Johnson by 4.5% during the first quarter. Drive Wealth Management LLC now owns 9,625 shares of the company’s stock worth $1,523,000 after purchasing an additional 414 shares during the last quarter. Vestmark Advisory Solutions Inc. lifted its position in shares of Johnson & Johnson by 12.7% during the fourth quarter. Vestmark Advisory Solutions Inc. now owns 19,587 shares of the company’s stock worth $3,070,000 after purchasing an additional 2,201 shares during the last quarter. Finally, California Public Employees Retirement System lifted its position in shares of Johnson & Johnson by 4.9% during the fourth quarter. California Public Employees Retirement System now owns 10,620,264 shares of the company’s stock worth $1,664,620,000 after purchasing an additional 498,647 shares during the last quarter. 69.55% of the stock is currently owned by institutional investors and hedge funds.

Johnson & Johnson Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 10th. Investors of record on Tuesday, August 27th will be issued a $1.24 dividend. The ex-dividend date of this dividend is Tuesday, August 27th. This represents a $4.96 annualized dividend and a yield of 3.26%. Johnson & Johnson’s dividend payout ratio is currently 30.92%.

Johnson & Johnson Company Profile

Johnson & Johnson, together with its subsidiaries, researches, develops, manufactures, and sells various products in the healthcare field worldwide. The company's Innovative Medicine segment offers products for various therapeutic areas, such as immunology, including rheumatoid arthritis, psoriatic arthritis, inflammatory bowel disease, and psoriasis; infectious diseases comprising HIV/AIDS; neuroscience, consisting of mood disorders, neurodegenerative disorders, and schizophrenia; oncology, such as prostate cancer, hematologic malignancies, lung cancer, and bladder cancer; cardiovascular and metabolism, including thrombosis, diabetes, and macular degeneration; and pulmonary hypertension comprising pulmonary arterial hypertension through retailers, wholesalers, distributors, hospitals, and healthcare professionals for prescription use.