Is This World-Class Dividend Stock a Buy?
Observers in some quarters put the risk of a U.S. recession over the next 12 months in the 40%-to-50% range. With that in mind, investors would be wise to start hedging their portfolios accordingly with companies that can better navigate these challenging economic waters.
Preeminent healthcare company Johnson & Johnson (NYSE: JNJ), with 60 consecutive years of dividend growth under its belt, is a poster child for stability. Is the stock a buy for income investors now? Let's dig into J&J's fundamentals and valuation to arrive at an answer.
In mid-July, Johnson & Johnson released its financial results for the second quarter, ended June 30, and the company surpassed analysts' consensus estimates.J&J recorded $24 billion in sales, up 3% over the year-ago period -- and slightly ahead of the $23.9 billion average analyst estimate. What was behind J&J's seventh sales beat out of the last 10 quarters?
Source Fool.com
