johnson and johnson earnings results
Source: istock

JNJ Stock Falls 2.4 Percent Despite Strong Q3 Earnings Results

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Oct. 13 2020, Updated 11:45 a.m. ET

Johnson & Johnson stock fell 2.4 percent on Tuesday, Oct. 13 at 9:34 a.m. ET after the company posted its third-quarter earnings results. The healthcare company's third-quarter sales and earnings beat analysts’ consensus estimates. However, the stock fell after the company paused a clinical trial of its experimental coronavirus vaccine candidate after one participant's unexplained illness.

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johnson and johnson stock
Source: istock

When did JNJ report earnings?

JNJ released its third-quarter 2020 earnings results on Oct. 13 before the opening bell. The company scheduled its earnings conference call on the same day at 8:30 a.m. ET. Financial analysts and investors could attend the webcast and view the presentation material on the investor relations section of the company’s website.

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JNJ’s earnings report highlights

In the third quarter, JNJ reported an adjusted EPS of $2.20 compared to $2.12 in the third quarter of 2019. The adjusted EPS beat analysts’ average estimate of $1.98. JNJ generated sales of $21.1 billion in the third quarter, which was 1.7 percent more than the third quarter of 2019. The company beat analysts’ average sales estimate of $20.2 billion. The growth was due to JNJ’s pharmaceutical business.

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JNJ increased its sales and earnings guidance for fiscal 2020. The company raised its sales guidance to $81.2 billion–$82.0 billion from $79.9 billion–$81.4 billion. The company raised its adjusted EPS guidance to $7.95–$8.05 from $7.75–$7.95.

johnson and johnson stock price
Source: istock
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What is JNJ’s stock price today?

Johnson & Johnson stock trades on the NYSE under the ticker symbol “JNJ.” The stock was down about 1.1 percent at $150.20 in the pre-market trading session on Oct. 13 as of 9:14 a.m. ET. The stock rose 0.6 percent on Oct. 12 and closed at $151.84 with a market capitalization of $399.8 billion.

JNJ stock has risen by 3.8 percent in the last five days and 14.3 percent in the last year. The stock is trading 3.3 percent below its 52-week high of $157 and 39.1 percent above its 52-week low of $109.16.

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What is JNJ’s dividend yield?

As of Oct. 12, JNJ’s dividend yield was 2.66 percent. Currently, the company pays an annual dividend of $4.04 per share. JNJ has increased its dividend for the last 24 years by an average of 6 percent each year.

What is JNJ’s stock forecast?

Currently, Wall Street analysts' stock price forecast for JNJ is $164.59, which suggests an 8.4 percent upside. The highest target price of $180 indicates an 18.5 percent upside, while the lowest target price of $142 indicates a 6.5 percent downside. Among the 23 analysts covering JNJ, 12 have a buy rating, eight have a hold rating, and three have a sell rating.

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