Health products maker Johnson & Johnson (
) on Tuesday posted a second quarter profit that met analyst
expectations, but lowered its full-year outlook for the second
time, citing recent product recalls.
The New Brunswick, NJ-based company reported second quarter net
income of $3.45 billion, or $1.23 per share, compared with $3.21
billion, or $1.15 per share, in the year-ago period. Excluding
one-time items, adjusted profit was $1.21 per share.
Revenue edged less than 1% higher from last year, to $15.33
On average, Wall Street analysts expected a matching adjusted
profit of $1.21 per share, albeit on higher revenue of $15.69
Looking ahead, the company cut its full-year forecast for the
second time, citing recent recalls of certain over-the-counter
medicines, as well as a plant suspension and currency effects. It
now expects earnings of $4.65 to $4.75 per share for the year,
while analysts are looking for $4.81.
Johnson & Johnson shares fell 97 cents, or -1.6%, in
premarket trading Tuesday.
The Bottom Line
We have been recommending shares of JNJ since Oct.8, 2009, when the
stock was trading at $60.71. The company has a 3.63% dividend
yield, based on last night's closing stock price of $59.57.
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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