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Abbott (ABT) Outpaces Stock Market Gains: What You Should Know
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In the latest trading session, Abbott (ABT - Free Report) closed at $127.40, marking a +0.82% move from the previous day. This change outpaced the S&P 500's 0.03% gain on the day.
Heading into today, shares of the maker of infant formula, medical devices and drugs had gained 3.48% over the past month, outpacing the Medical sector's gain of 2.3% and the S&P 500's gain of 3.02% in that time.
ABT will be looking to display strength as it nears its next earnings release. The company is expected to report EPS of $0.92, down 6.12% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $9.43 billion, up 6.54% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $4.42 per share and revenue of $39.8 billion. These totals would mark changes of +21.1% and +14.99%, respectively, from last year.
Investors should also note any recent changes to analyst estimates for ABT. Recent revisions tend to reflect the latest near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. ABT is currently a Zacks Rank #3 (Hold).
Investors should also note ABT's current valuation metrics, including its Forward P/E ratio of 28.62. For comparison, its industry has an average Forward P/E of 28.62, which means ABT is trading at a no noticeable deviation to the group.
Investors should also note that ABT has a PEG ratio of 2.41 right now. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. The Medical - Products was holding an average PEG ratio of 2.28 at yesterday's closing price.
The Medical - Products industry is part of the Medical sector. This group has a Zacks Industry Rank of 204, putting it in the bottom 20% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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Abbott (ABT) Outpaces Stock Market Gains: What You Should Know
In the latest trading session, Abbott (ABT - Free Report) closed at $127.40, marking a +0.82% move from the previous day. This change outpaced the S&P 500's 0.03% gain on the day.
Heading into today, shares of the maker of infant formula, medical devices and drugs had gained 3.48% over the past month, outpacing the Medical sector's gain of 2.3% and the S&P 500's gain of 3.02% in that time.
ABT will be looking to display strength as it nears its next earnings release. The company is expected to report EPS of $0.92, down 6.12% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $9.43 billion, up 6.54% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $4.42 per share and revenue of $39.8 billion. These totals would mark changes of +21.1% and +14.99%, respectively, from last year.
Investors should also note any recent changes to analyst estimates for ABT. Recent revisions tend to reflect the latest near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. ABT is currently a Zacks Rank #3 (Hold).
Investors should also note ABT's current valuation metrics, including its Forward P/E ratio of 28.62. For comparison, its industry has an average Forward P/E of 28.62, which means ABT is trading at a no noticeable deviation to the group.
Investors should also note that ABT has a PEG ratio of 2.41 right now. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. The Medical - Products was holding an average PEG ratio of 2.28 at yesterday's closing price.
The Medical - Products industry is part of the Medical sector. This group has a Zacks Industry Rank of 204, putting it in the bottom 20% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.