MRK stock’s dividend yield for TTM is 2.81% and its last dividend payment was $0.73 per share. The last ex-dividend date was September 14th, 2023 and its payout ratio is 237.15%.
MRK stock’s latest quarterly balance sheet for the period ending June 2023 reported total assets of $104.47 Billion and total liabilities of $65.73 Billion. The debt-to-assets ratio is at 62.92%.
Furthermore, this quarter, the reported revenue exceeded analysts’ estimates by $593.288 Million (4.11%). Moreover, the stock reported an EPS of $2.06 for the period ending June 2023, beating the analysts’ estimate of $2.181 by 5.53%.
The next quarter’s EPS is estimated to be $1.951. The next quarter’s revenue is estimated to be $15.302 Billion. The report will be released on October 26th, 2023.
The latest quarterly earnings report for the period ending June 2023 displayed a revenue of $15.06 Billion, with a net income of $5.97 Billion, and a loss in profit margin from the last quarter of 39.66%.
MRK Stock Price Technical Analysis in 1-D Timeframe
The MRK has a CMP of $103.88 and an intraday gain of 0.27%. The stock’s average volume for the last 10 days is 6.013 Million and its current volume is 6.855 Million. The stock stock has a float of 2.535 Billion shares and a market cap of $263.598 Billion.
The MRK stock price rose from the $85 support level in September 2022 and reached a high of $119 in May 2023, making higher highs and lows. However, it faced resistance and fell sharply due to investors taking profits after the quarterly reports for March 2023 and June 2023. The stock showed signs of support after the current dividend release on October 4th, 2023.
Therefore, if the Merck stock manages to gain strong buying momentum and surges above the swing high, it can trigger a rally and the probable resistance levels are between $109 and $112.
Alternatively, if the stock continues to fall below and breaks below $101, then it could fall up to $97.
At the time of publishing, the price of Merck & Company Inc. (NYSE: MRK) has found support and is moving towards the 20 EMA, despite the bearish trend of the major EMAs.
The MACD indicates a bearish cross, but the gap is narrowing and a bullish cross may occur soon. The RSI is at 41 and has bounced off the 14 SMA. The indicators suggest some positive signs on the charts.
Moreover, the stock ratings for MRK are positive and highly recommended based on 29 analysts who have evaluated the stock in the last three months. The 1-year price forecasts for the stock by 24 analysts range between $103.00 to $135.00.
Summary
Merck & Company Inc. (NYSE: MRK) chart indicates that the traders and investors of the stock price are bullish and positive on the 1-D time frame. The price action shows a bullish outlook at the time of publishing. The technical analysis tools of Merck stock price such as EMA, RSI, and MACD highlight upward signals and also support bullishness.
Technical Levels
Support Levels: $101 and $97
Resistance Levels: $109 and $112
Disclaimer
In this article, the views and opinions stated by the author, or any people named are for informational purposes only, and they don’t establish the investment, financial, or any other advice. Trading or investing in cryptocurrency assets comes with a risk of financial loss.
Source: https://www.thecoinrepublic.com/2023/10/09/mrk-stock-forecast-will-nyse-mrk-surpass-yearly-high-of-120/