Healthcare products giant Johnson & Johnson (
) on Tuesday posted adjusted fourth quarter earnings results that
beat expectations, but its full-year outlook was below Wall
The New Brunswick, NJ-based company reported fourth quarter net
income $218 million, or 8 cents per share, compared with $1.94
billion, or 70 cents per share, in the year-ago period. Excluding
one-time items, adjusted profit was $1.13 per share.
Revenue rose 4% from last year to $16.26 billion.
On average, Wall Street analysts expected a smaller profit of
$1.09 per share, albeit on slightly higher revenue $16.27
Looking ahead, J&J predicted full-year 2012 earnings of
$5.05 to $5.15 per share, which would miss analyst expectations of
$5.21 per share for the year.
Johnson & Johnson shares fell 95 cents, or -1.5%, in
premarket trading Tuesday.
The Bottom Line
Shares of Johnson & Johnson (
) have a 3.51% dividend yield, based on last night's closing stock
price of $65.00. The stock has technical support in the $61-$62
price area. If the stock can firm up, we see overhead resistance
around the all-time high levels of $68-$70 a share.
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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