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Abbott (ABT) Stock Moves -0.2%: What You Should Know
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The most recent trading session ended with Abbott (ABT - Free Report) standing at $109.85, reflecting a -0.2% shift from the previouse trading day's closing. The stock outperformed the S&P 500, which registered a daily loss of 0.57%. At the same time, the Dow added 0.07%, and the tech-heavy Nasdaq lost 1.64%.
Shares of the maker of infant formula, medical devices and drugs witnessed a gain of 4.64% over the previous month, beating the performance of the Medical sector with its gain of 4.53% and the S&P 500's gain of 4%.
Market participants will be closely following the financial results of Abbott in its upcoming release. The company's earnings per share (EPS) are projected to be $1.19, reflecting a 15.53% increase from the same quarter last year. At the same time, our most recent consensus estimate is projecting a revenue of $10.14 billion, reflecting a 0.49% rise from the equivalent quarter last year.
It is also important to note the recent changes to analyst estimates for Abbott. These recent revisions tend to reflect the evolving nature of short-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the past month, the Zacks Consensus EPS estimate remained stagnant. Abbott is holding a Zacks Rank of #3 (Hold) right now.
With respect to valuation, Abbott is currently being traded at a Forward P/E ratio of 23.85. This signifies a premium in comparison to the average Forward P/E of 22.07 for its industry.
We can additionally observe that ABT currently boasts a PEG ratio of 2.65. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. ABT's industry had an average PEG ratio of 2.55 as of yesterday's close.
The Medical - Products industry is part of the Medical sector. This industry, currently bearing a Zacks Industry Rank of 174, finds itself in the bottom 31% echelons of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow ABT in the coming trading sessions, be sure to utilize Zacks.com.
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Abbott (ABT) Stock Moves -0.2%: What You Should Know
The most recent trading session ended with Abbott (ABT - Free Report) standing at $109.85, reflecting a -0.2% shift from the previouse trading day's closing. The stock outperformed the S&P 500, which registered a daily loss of 0.57%. At the same time, the Dow added 0.07%, and the tech-heavy Nasdaq lost 1.64%.
Shares of the maker of infant formula, medical devices and drugs witnessed a gain of 4.64% over the previous month, beating the performance of the Medical sector with its gain of 4.53% and the S&P 500's gain of 4%.
Market participants will be closely following the financial results of Abbott in its upcoming release. The company's earnings per share (EPS) are projected to be $1.19, reflecting a 15.53% increase from the same quarter last year. At the same time, our most recent consensus estimate is projecting a revenue of $10.14 billion, reflecting a 0.49% rise from the equivalent quarter last year.
It is also important to note the recent changes to analyst estimates for Abbott. These recent revisions tend to reflect the evolving nature of short-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the past month, the Zacks Consensus EPS estimate remained stagnant. Abbott is holding a Zacks Rank of #3 (Hold) right now.
With respect to valuation, Abbott is currently being traded at a Forward P/E ratio of 23.85. This signifies a premium in comparison to the average Forward P/E of 22.07 for its industry.
We can additionally observe that ABT currently boasts a PEG ratio of 2.65. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. ABT's industry had an average PEG ratio of 2.55 as of yesterday's close.
The Medical - Products industry is part of the Medical sector. This industry, currently bearing a Zacks Industry Rank of 174, finds itself in the bottom 31% echelons of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow ABT in the coming trading sessions, be sure to utilize Zacks.com.