Mead Johnson Posts Q4 Profit Rises on Higher Sales; 2013 EPS Outlook Below View (MJN)
Children’s nutrition firm Mead Johnson Nutrition Co. (MJN) reported before the bell on Thursday fourth quarter results that were up and exceeded the Wall Street view.
The Glenview, Illinois-based company posted at fourth quarter profit of $132.3 million up from $89.3 million earned in the year ago period. Adjusted earnings came in at $146.7 million, or 72 cents, per share; this beat the Wall Street view according to Thomson Reuters, as analysts expected earnings per share to be 68 cents.
Revenue for the company was up +6% from $911.3 million to $981.1 million in the quarter. Analysts were expecting revenues to be $956.32 million.
The company is forecasting earnings to be in the range of $3.20 to $3.28 per share for all of 2013. Adjusted earnings is expected to be between $3.22 and $3.30 per share. Analysts are estimating an EPS of $3.33 for full year 2013.
Mead Johnson shares were up $1.94, or +2.85%, during pre-market trading on Thursday. The stock is down -7.94% over the past year.
The Bottom Line
Shares of Mead Johnson (MJN) have a dividend yield of 1.76% based on last night’s closing price of $68.15.
Mead Johnson Nutrition Co (MJN) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.4 out of 5 stars.
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