Mead Johnson Nutrition CO (NYSE:MJN) stock plunged on Friday after a Goldman Sachs Group, Inc (NYSE:GS) analyst lower his profit estimate for the corporation, mentioning its weaker business in China.
Analyst Jason English stated information confirms the corporation’s market share in China is dropping. He further stated that the corporation had estimate a lower growth but the drop has been faster than anticipated and its market share is currently decreasing. English stated in a note to clients that competitor Pfizer Inc (NYSE:PFE) is taking a major share of the market.
Jason English currently forecasts the Enfamil maker to earn $3.12 a share in 2012, low from his earlier forecast of $3.23 a share. Also, English lower his 2013 profit forecast by 9 cents a share, to $3.59.
Shifting readers focus to broader market, let’s consider market performance of other stocks that significantly affect same sector. Synutra International, Inc. (NASDAQ:SYUT) increased +3.25% to settle at $5.40, Feihe International Inc (NYSE:ADY) moved up +3.64% to end at $6.84 while Dean Foods Company (NYSE:DF) jumped +2.84% to finish on Friday at $17.03.
Mead Johnson Nutrition CO (NYSE:MJN) on June 29, 2012 decreased -6.00% to the closing price of $80.51. The overall volume in the last trading session was 7.19 million shares. Its fifty two week range was $60.62-$88.72. The total market capitalization remained $16.42 billion.
MJN is ahead its 52 week low with +33.78% and lagging behind from its 52 week high price with -9.25%. MJN last month stock price volatility remained 2.30%. In its share capital MJN has 203.89 million outstanding shares among them 203.48 million shares have been floated in market exchange. MJN stock institutional ownership remained 96.82% while insider ownership included 0.21%.
The stock price of MJN is moving down from its 20 days moving average with -3.66% and remote negatively from 50 days moving average with -3.21%. MJN current year earnings per share experienced an addition with 12.42% while its current quarter performance remained -2.04%. Company’s beta coefficient included 0.63. Beta factors measures the amount of market risk associated with market trade.
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