Stocks Analysis by MarketBeat.com (Thomas Hughes) covering: S&P 500, Johnson & Johnson, Kenvue Inc. Read MarketBeat.com (Thomas Hughes)'s latest article on Investing.com
Johnson & Johnson issued mixed results that were better than expected, providing more clarity for investors.Analysts forecast a nearly 20% upside at the consensus, a low target given the company's return to growth, valuation, and capital returns.
Regarding value, this healthcare stock is trading at 16x this year’s earnings, less than half the historical average price multiple and well below theaverage. Regarding returns, Johnson & Johnson is a reliable dividend payer yielding more than 3%, more than double the broad market average, and at the high end of the historical range with a solid outlook for sustained distribution increases over the next few years.
The guidance is also mixed but favorable to shareholders. The company raised its guidance for revenue due to organic strength and the impact of the V-Wave acquisition but trimmed its target for earnings. The takeaway is that revenue is forecast above the consensus analysts' target, the impact of the acquisition on earnings will diminish, and earnings are sufficient to sustain the capital return program, which is robust.
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