Johnson & Johnson (JNJ) stock ( NYSE:JNJ ) is down marginally after reporting a double-digit increase in third-quarter profits. J&J reported $2.55 earnings per share (EPS) on $23.79 billion in sales. This was more than the experts’ projection of $2.49 per share on $23.43 billion in sales. However, earnings per share were 1.9% lower than in the previous quarter.
Market Analysis of JNJ Stock
Owing to the company’s projection , JNJ stock ( NYSE:JNJ ) is down around 0.5% in late-day trade. The firm is also decreasing (i.e., tightening) its projection for the remainder of the year for the full year 2022. J&J anticipates EPS reaching a midpoint of $10.05 on $93.3 billion in sales. Analysts predicted $10.03 in profits per share and $94.85 billion in revenue.
The business attributed the narrower projection to a higher dollar, which reduced the value of its overseas sales.
To be honest, hitting the middle of J&J’s profits prediction would represent a 7% rise from 2021. That’s not bad at a time when an earnings slump is predicted. JNJ stock ( NYSE:JNJ ) is seen as a defensive choice that has historically performed well in downturn times . However, there is one factor that makes longer-term projections questionable.
JNJ Stock: Alpha and Beta must be balanced.
Investing, like other businesses, has its own lingo. Alpha and Beta are...
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