Diversified healthcare company Johnson & Johnson (
) on Tuesday posted a sharp downturn in second quarter earnings,
hurt by one-time items, although adjusted results edged out Wall
The New Brunswick, NJ-based company reported second quarter net
income of $1.41 billion, or 50 cents per share, compared with $2.78
billion, or $1 per share, in the year-ago period. Excluding
one-time items, adjusted profit was $1.30 per share.
Revenue edged slightly lower from last year to $16.48
On average, Wall Street analysts expected a slightly smaller
profit of $1.29 per share, albeit on higher revenue of $16.69
Looking ahead, JNJ reduced its full-year earnings outlook to a
range of $5 to $5.07 per share, down from a prior outlook of $5.07
to $5.17. Analysts currently expect $5.14 per share for the
Johnson & Johnson shares fell 94 cents, or -1.4%, in
premarket trading Tuesday.
The Bottom Line
We have been recommending shares of Johnson & Johnson (
) since Apr.27, when the stock was trading at $64.75. The company
has a 3.56% dividend yield, based on last night's closing stock
price of $68.45.
Johnson & Johnson (
) is a "Recommended" dividend stock, holding a Dividend.com DARS™
Rating of 3.5 out of 5 stars.
Be sure to visit our complete recommended list of the
Best Dividend Stocks
, as well as a detailed explanation of
our ratings system here
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