Multinational healthcare company Johnson & Johnson (NYSE:JNJ) will be reporting results tomorrow before market open. Here’s what investors should know.
Johnson & Johnson met analysts’ revenue expectations last quarter, reporting revenues of $22.52 billion, up 5.3% year on year. It was a satisfactory quarter for the company, with a solid beat of analysts’ organic revenue estimates.
Is Johnson & Johnson a buy or sell going into earnings? Read our full analysis here, it’s free.
This quarter, analysts are expecting Johnson & Johnson’s revenue to be flat year on year at $21.56 billion, slowing from the 2.3% increase it recorded in the same quarter last year. Adjusted earnings are expected to come in at $2.58 per share.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Johnson & Johnson has missed Wall Street’s revenue estimates four times over the last two years.
With Johnson & Johnson being the first among its peers to report earnings this season, we don’t have anywhere else to look to get a hint at how this quarter will unravel for pharmaceuticals stocks. However, the whole sector has been hit hard over the last month as stocks in Johnson & Johnson’s peer group are down 8.5% on average. Johnson & Johnson is down 6% during the same time and is heading into earnings with an average analyst price target of $169.87 (compared to the current share price of $153.50).
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