In the latest trading session, Abbott (ABT - Free Report) closed at $97.87, marking a +0.89% move from the previous day. This change traded in line with S&P 500. Meanwhile, the Dow gained 1.2%, and the Nasdaq, a tech-heavy index, lost 0.68%.
Prior to today's trading, shares of the maker of infant formula, medical devices and drugs had lost 9.12% over the past month. This has lagged the Medical sector's loss of 4.48% and the S&P 500's loss of 3.9% in that time.
Investors will be hoping for strength from Abbott as it approaches its next earnings release. In that report, analysts expect Abbott to post earnings of $0.98 per share. This would mark a year-over-year decline of 43.35%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $9.64 billion, down 18.98% from the year-ago period.
ABT's full-year Zacks Consensus Estimates are calling for earnings of $4.38 per share and revenue of $39.74 billion. These results would represent year-over-year changes of -17.98% and -8.97%, respectively.
Investors might also notice recent changes to analyst estimates for Abbott. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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.
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. Within the past 30 days, our consensus EPS projection remained stagnant. Abbott currently has a Zacks Rank of #3 (Hold).
Digging into valuation, Abbott currently has a Forward P/E ratio of 22.14. This represents a premium compared to its industry's average Forward P/E of 21.89.
We can also see that ABT currently has a PEG ratio of 4.35. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. Medical - Products stocks are, on average, holding a PEG ratio of 2.25 based on yesterday's closing prices.
The Medical - Products industry is part of the Medical sector. This industry currently has a Zacks Industry Rank of 147, which puts it in the bottom 42% 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
Zacks Names #1 Semiconductor Stock
It's only 1/9,000th the size of NVIDIA which skyrocketed more than +800% since we recommended it. NVIDIA is still strong, but our new top chip stock has much more room to boom.
With strong earnings growth and an expanding customer base, it's positioned to feed the rampant demand for Artificial Intelligence, Machine Learning, and Internet of Things. Global semiconductor manufacturing is projected to explode from $452 billion in 2021 to $803 billion by 2028.
See This Stock Now for Free >>
In the latest trading session, Abbott (ABT - Free Report) closed at $97.87, marking a +0.89% move from the previous day. This change traded in line with S&P 500. Meanwhile, the Dow gained 1.2%, and the Nasdaq, a tech-heavy index, lost 0.68%.
Prior to today's trading, shares of the maker of infant formula, medical devices and drugs had lost 9.12% over the past month. This has lagged the Medical sector's loss of 4.48% and the S&P 500's loss of 3.9% in that time.
Investors will be hoping for strength from Abbott as it approaches its next earnings release. In that report, analysts expect Abbott to post earnings of $0.98 per share. This would mark a year-over-year decline of 43.35%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $9.64 billion, down 18.98% from the year-ago period.
ABT's full-year Zacks Consensus Estimates are calling for earnings of $4.38 per share and revenue of $39.74 billion. These results would represent year-over-year changes of -17.98% and -8.97%, respectively.
Investors might also notice recent changes to analyst estimates for Abbott. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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.
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. Within the past 30 days, our consensus EPS projection remained stagnant. Abbott currently has a Zacks Rank of #3 (Hold).
Digging into valuation, Abbott currently has a Forward P/E ratio of 22.14. This represents a premium compared to its industry's average Forward P/E of 21.89.
We can also see that ABT currently has a PEG ratio of 4.35. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. Medical - Products stocks are, on average, holding a PEG ratio of 2.25 based on yesterday's closing prices.
The Medical - Products industry is part of the Medical sector. This industry currently has a Zacks Industry Rank of 147, which puts it in the bottom 42% 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
Zacks Names #1 Semiconductor Stock
It's only 1/9,000th the size of NVIDIA which skyrocketed more than +800% since we recommended it. NVIDIA is still strong, but our new top chip stock has much more room to boom.
With strong earnings growth and an expanding customer base, it's positioned to feed the rampant demand for Artificial Intelligence, Machine Learning, and Internet of Things. Global semiconductor manufacturing is projected to explode from $452 billion in 2021 to $803 billion by 2028.
See This Stock Now for Free >>
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