Merck Reports Increased Profits; Misses on Revenue (MRK)
Health care company, Merck & Co., Inc.(MRK) reported increased profits for the quarter on Friday, but missed on revenue.
The Whitehouse Station, NJ based company reported third quarter earnings of $1.73 billion, or 56 cents a share, rising 2% from last years reported earnings of $1.69 billion, or 55 cents a share. Excluding special items, adjusted quarter earnings were 95 cents a share, beating analysts estimate of 92 cents.
Reported revenue declined by 4% to 11.49 billion, missing expectations of $11.57 billion.
Merck & Co. shares were down 30 cents, or -0.65% during premarket trading Friday.
The Bottom Line
Shares of Merck (MRK) have a 3.63% dividend yield, based on last night’s closing stock price of $46.30. The stock has technical support in the $42 price area. If the shares can firm up, we see overhead resistance around the $47-$50 price levels.
Merck & Co., Inc.(MRK) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.4 out of 5 stars.
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