Johnson & Johnson to Post FY2024 Earnings of $10.47 Per Share, Cantor Fitzgerald Forecasts (NYSE:JNJ)

Johnson & Johnson (NYSE:JNJ) – Research analysts at Cantor Fitzgerald dropped their FY2024 earnings per share estimates for Johnson & Johnson in a research report issued on Tuesday, June 25th. Cantor Fitzgerald analyst L. Chen now anticipates that the company will post earnings of $10.47 per share for the year, down from their previous estimate of $10.57. Cantor Fitzgerald currently has a “Overweight” rating and a $215.00 target price on the stock. The consensus estimate for Johnson & Johnson’s current full-year earnings is $10.62 per share.

Johnson & Johnson (NYSE:JNJ) last released its earnings results on Tuesday, April 16th. The company reported $2.71 EPS for the quarter, topping analysts’ consensus estimates of $2.64 by $0.07. The company had revenue of $21.38 billion for the quarter, compared to analysts’ expectations of $21.39 billion. Johnson & Johnson had a return on equity of 36.70% and a net margin of 45.26%. The business’s revenue for the quarter was up 2.3% compared to the same quarter last year. During the same period in the previous year, the business posted $2.68 EPS.

Other equities research analysts have also recently issued reports about the company. StockNews.com cut Johnson & Johnson from a “strong-buy” rating to a “buy” rating in a research note on Saturday, June 22nd. Bank of America lowered their target price on Johnson & Johnson from $180.00 to $170.00 and set a “neutral” rating on the stock in a report on Wednesday, April 17th. The Goldman Sachs Group started coverage on Johnson & Johnson in a research note on Thursday, May 30th. They issued a “neutral” rating and a $160.00 price objective on the stock. HSBC upgraded Johnson & Johnson from a “hold” rating to a “buy” rating and increased their target price for the stock from $169.00 to $170.00 in a research report on Thursday, April 18th. Finally, Morgan Stanley cut their price target on Johnson & Johnson from $168.00 to $167.00 and set an “equal weight” rating for the company in a report on Wednesday, April 17th. Eight investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, Johnson & Johnson has a consensus rating of “Hold” and a consensus price target of $174.07.

Johnson & Johnson Stock Performance

NYSE:JNJ opened at $146.16 on Thursday. The business has a 50 day moving average of $148.14 and a 200 day moving average of $154.07. The company has a market capitalization of $351.76 billion, a price-to-earnings ratio of 9.11, a PEG ratio of 2.44 and a beta of 0.53. 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 current ratio of 1.17 and a quick ratio of 0.94.

Johnson & Johnson Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 4th. Shareholders of record on Tuesday, May 21st were issued a $1.24 dividend. The ex-dividend date of this dividend was Monday, May 20th. This represents a $4.96 dividend on an annualized basis and a yield of 3.39%. This is a boost from Johnson & Johnson’s previous quarterly dividend of $1.19. Johnson & Johnson’s dividend payout ratio (DPR) is currently 30.92%.

Institutional Investors Weigh In On Johnson & Johnson

Large investors have recently made changes to their positions in the company. Private Advisory Group LLC boosted its position in shares of Johnson & Johnson by 11.8% during the 3rd quarter. Private Advisory Group LLC now owns 2,576 shares of the company’s stock valued at $401,000 after acquiring an additional 271 shares in the last quarter. Van Lanschot Kempen Investment Management N.V. increased its stake in Johnson & Johnson by 21.8% in the third quarter. Van Lanschot Kempen Investment Management N.V. now owns 496,621 shares of the company’s stock valued at $77,349,000 after purchasing an additional 88,912 shares in the last quarter. Nomura Holdings Inc. boosted its holdings in shares of Johnson & Johnson by 39.3% in the third quarter. Nomura Holdings Inc. now owns 41,139 shares of the company’s stock valued at $6,407,000 after buying an additional 11,605 shares during the period. Cape Cod Five Cents Savings Bank boosted its holdings in shares of Johnson & Johnson by 98.1% in the third quarter. Cape Cod Five Cents Savings Bank now owns 160,604 shares of the company’s stock valued at $25,014,000 after buying an additional 79,543 shares during the period. Finally, Ascent Group LLC boosted its holdings in shares of Johnson & Johnson by 49.5% in the third quarter. Ascent Group LLC now owns 44,640 shares of the company’s stock valued at $6,581,000 after buying an additional 14,786 shares during the period. Institutional investors and hedge funds own 69.55% of the company’s stock.

About Johnson & Johnson

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.