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Johnson & Johnson Stock: 2020 Outlook Indicates Sustainable Growth

Johnson & Johnson stock

Johnson & Johnson (NYSE: JNJ) stock price soared sharply in the past few months on the back of prospects for sustainable revenue and earnings growth. In addition, the latest financial numbers along with 2020 outlook indicate that JNJ is well set to enhance cash returns in the following quarters. The company is planning to invest in product innovation and inorganic growth opportunities to support its revenue base.

Johnson & Johnson stock price surged 15% in the past three months. JNJ share price is currently trading around 52-weeks high of $150. Fortunately, the JNJ share price still looks undervalued considering price to earnings ratio of 17 compared to the industry average of 25 times. In addition, Johnson & Johnson is considered a dividend king due to its history of increasing dividends in the past 57 years in a row.

JNJ Johnson & Johnson daily Stock Chart

Recent Financials and 2020 Outlook Supports Johnson & Johnson Stock

The company generated sales growth of low single-digit in fiscal 2019. Its earnings per share rose 6% from the past year. The company experienced growth across all business segments in the last year. JNJ expects similar growth in fiscal 2020. The company is seeking to support its revenue growth through investments in both organic and inorganic growth opportunities.

Johnson & Johnson Stock:...

Alex Gorsky, Chairman, and Chief Executive Officer. “As we enter into 2020 and this next decade, our strategic investments focused on advancing our pipelines and driving innovation across our entire product portfolio, position us well to deliver long-term sustainable growth and value to our shareholders.”

A Safe Play for Dividend Portfolio

Johnson & Johnson Stock:...

Dividend investors always like to invest in companies that have sustainable growth potential along with a solid business model. Johnson & Johnson has a long dividend growth history. In addition, the expected growth in its financial numbers is likely to permit it to raise the dividend in 2020. Moreover, the JNJ share price is trading at a discount. Thus, Johnson & Johnson’s stock price is also poised to extend the momentum in the coming days.

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Based in Saudi Arabia, Siraj has a strong understanding of and passion for accounting and finance. He has worked for international clients for many years on several projects related to the stock market, equity research and other business, accounting and finance related projects. Siraj is a published financial analyst on the world's leading websites including SeekingAlpha, TheStreet, MSN, and others.