Pediatric nutrition specialist Mead Johnson Nutrition Co. ( MJN ) on Thursday posted better-than-expected second quarter earnings results, but its full-year outlook was largely below Wall Street's view.
The Glenview, IL-based company reported second quarter net income of $165.8 million, or 81 cents per share, compared with $132.1 million, or 64 cents per share, in the year-ago period. Excluding special items, adjusted profit was 83 cents per share.
Revenue grew 8% from last year to $1.01 billion.
On average, Wall Street analysts expected a smaller profit of 76 cents per share for the latest quarter.
Looking ahead, MJN forecast full-year adjusted earnings to range from $3.04 to $3.14 per share, which could miss Wall Street's view of $3.13 per share for the year.
Mead Johnson shares were mostly flat in premarket trading Thursday.
The Bottom Line
Shares of Mead Johnson ( MJN ) have a 1.64% dividend yield, based on last night's closing stock price of $72.98. The stock has technical support in the $65-$68 price area. If the shares can firm up, we see overhead resistance around the $78-$80 price levels.
Mead Johnson Nutrition Co. ( MJN ) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.4 out of 5 stars.
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