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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 $92.23, marking a +0.64% move from the previous day. This move outpaced the S&P 500's daily gain of 0.45%. Meanwhile, the Dow gained 0.36%, and the Nasdaq, a tech-heavy index, added 0.52%.
Prior to today's trading, shares of the maker of infant formula, medical devices and drugs had gained 0.26% over the past month. This has outpaced the Medical sector's loss of 0.05% and lagged the S&P 500's gain of 2.08% in that time.
ABT will be looking to display strength as it nears its next earnings release, which is expected to be July 16, 2020. In that report, analysts expect ABT to post earnings of $0.42 per share. This would mark a year-over-year decline of 48.78%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $6.76 billion, down 15.23% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $2.82 per share and revenue of $31.27 billion, which would represent changes of -12.96% and -1.98%, respectively, from the prior year.
Investors might also notice recent changes to analyst estimates for ABT. Recent revisions tend to reflect the latest near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, 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 has moved 0.36% higher. ABT is currently sporting a Zacks Rank of #2 (Buy).
Looking at its valuation, ABT is holding a Forward P/E ratio of 32.47. This valuation marks a discount compared to its industry's average Forward P/E of 33.52.
Meanwhile, ABT's PEG ratio is currently 3.79. 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 4.17 at yesterday's closing price.
The Medical - Products industry is part of the Medical sector. This group has a Zacks Industry Rank of 98, putting it in the top 39% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our 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) Outpaces Stock Market Gains: What You Should Know
In the latest trading session, Abbott (ABT - Free Report) closed at $92.23, marking a +0.64% move from the previous day. This move outpaced the S&P 500's daily gain of 0.45%. Meanwhile, the Dow gained 0.36%, and the Nasdaq, a tech-heavy index, added 0.52%.
Prior to today's trading, shares of the maker of infant formula, medical devices and drugs had gained 0.26% over the past month. This has outpaced the Medical sector's loss of 0.05% and lagged the S&P 500's gain of 2.08% in that time.
ABT will be looking to display strength as it nears its next earnings release, which is expected to be July 16, 2020. In that report, analysts expect ABT to post earnings of $0.42 per share. This would mark a year-over-year decline of 48.78%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $6.76 billion, down 15.23% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $2.82 per share and revenue of $31.27 billion, which would represent changes of -12.96% and -1.98%, respectively, from the prior year.
Investors might also notice recent changes to analyst estimates for ABT. Recent revisions tend to reflect the latest near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, 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 has moved 0.36% higher. ABT is currently sporting a Zacks Rank of #2 (Buy).
Looking at its valuation, ABT is holding a Forward P/E ratio of 32.47. This valuation marks a discount compared to its industry's average Forward P/E of 33.52.
Meanwhile, ABT's PEG ratio is currently 3.79. 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 4.17 at yesterday's closing price.
The Medical - Products industry is part of the Medical sector. This group has a Zacks Industry Rank of 98, putting it in the top 39% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our 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.