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Johnson & Johnson Q4 Profit Plunges on Items; Forecast Misses the Mark (JNJ)
Healthcare products giant Johnson & Johnson ( JNJ ) on Tuesday posted adjusted fourth quarter earnings results that beat expectations, but its full-year outlook was below Wall Street's view.
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 billion.
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 ( JNJ ) 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 ( JNJ ) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.4 out of 5 stars.