Healthcare products giant Johnson & Johnson (
) on Tuesday said its profit fell 23% from last year on several
one-time items, but adjusted results easily beat analysts'
The New Brunswick, NJ-based company reported first quarter net
income of $3.48 billion, or $1.25 per share, compared with $4.53
billion, or $1.62 per share, in the year-ago period. Excluding
special items, adjusted profit was $1.35 per share.
Revenue rose 3.5% from last year to $16.17 billion.
On average, Wall Street analysts expected a much smaller profit
of $1.03 per share on lower revenue of $15.6 billion.
Looking ahead, the company boosted its full-year earnings
outlook to a range of $4.90 to $5 per share, compared with a prior
range of $4.80 to $4.90. Analysts are looking for $4.85 per share
for the year.
Johnson & Johnson shares rose $1.33, or +2.2%, in premarket
The Bottom Line
Shares of Johnson & Johnson (
) have a 3.57% dividend yield, based on last night's closing stock
price of $60.46. This former recommendation is a name we are
watching closely to see if their recent manufacturing problems have
subsided. The stock has technical support in the $57-$58 price
area. If the shares can firm up, we see overhead resistance around
the $63-$64 price levels.
Johnson & Johnson (
) is not recommended at this time, holding a Dividend.com DARS™
Rating of 3.4 out of 5 stars.
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, as well as a detailed explanation of
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