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Johnson & Johnson beats earnings – JNJ stock rises in premarket trading

Johnson & Johnson beats earnings - JNJ stock rises in premarket trading
Dino Kurbegovic

Johnson & Johnson (NYSE: JNJ) on Tuesday, July 19, posted quarterly earnings results, beating estimates across the board.

However, not everything was ideal as the company had to cut its full-year guidance due to a stronger dollar, which dragged down its sales outside of the U.S. along with the fears of a global recession. 

Moreover, the company posted revenue of $24 billion, an increase of 3% year-on-year (YoY), beating expectations by $180 million. Similarly, earnings per share (EPS) were $2.59, beating estimates by $0.04, meanwhile, the guidance on revenue was cut from $94.8 billion – $95.8 billion, to now $93.3 billion – $94.3 billion. 

Meanwhile, JNJ is slowly ticking up in pre-market trading, up 0.65% at the time of writing. 

Pre-market JNJ quote. Source: Nasdaq 

JNJ chart and analysis 

Distinctly, the stock is up ‘only’ 1.57% for the year, which is better than most stocks can boast in 2022. Trading volumes for JNJ are slightly down from the averages as a possible consolidation of the price is occurring. 

Meanwhile, the support zone is in the range of $171.10 to $173.01, while the resistance zone is formed between $176.68 and $182.30. 

JNJ 20-50-200 SMA lines chart. Source. data. See more stocks here.

Presently, analysts rate the shares as a moderate buy, seeing the average price in the next 12 months reaching $192.50, 10.49% higher than the current trading price of $174.23.

Wall Street analysts’ price targets for JNJ. Source: TipRanks  

Despite the U.S. dollar possibly impacting the growth JNJ achieves in this year, the latest earnings show that the company offers reliable cash flows, which are ample enough to cover the company’s 2.47% dividend yield. 

Yet, the long-term outlook of the stock should be positive as the company is growing its earnings and has a promising pipeline, so investors looking to get exposure to the vaccine and drugs markets could have a solid pick in JNJ. 

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Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk. 

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