Abbott (ABT - Free Report) closed the most recent trading day at $104.16, moving -1.3% from the previous trading session. This change lagged the S&P 500's 0.81% loss on the day. Elsewhere, the Dow lost 0.56%, while the tech-heavy Nasdaq lost 1.27%.
Prior to today's trading, shares of the maker of infant formula, medical devices and drugs had gained 3.71% over the past month. This has outpaced the Medical sector's loss of 1.62% and lagged the S&P 500's gain of 5.06% in that time.
Wall Street will be looking for positivity from ABT as it approaches its next earnings report date. In that report, analysts expect ABT to post earnings of $0.89 per share. This would mark year-over-year growth of 5.95%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $8.43 billion, up 4.4% from the year-ago period.
ABT's full-year Zacks Consensus Estimates are calling for earnings of $3.27 per share and revenue of $32.88 billion. These results would represent year-over-year changes of +0.93% and +3.05%, respectively.
Investors should also note any recent changes to analyst estimates for ABT. These revisions help to show the ever-changing nature of near-term business trends. 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. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 0.25% higher. ABT is holding a Zacks Rank of #3 (Hold) right now.
Digging into valuation, ABT currently has a Forward P/E ratio of 32.24. This represents a discount compared to its industry's average Forward P/E of 39.52.
Investors should also note that ABT has a PEG ratio of 2.94 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. ABT's industry had an average PEG ratio of 4.26 as of yesterday's close.
The Medical - Products industry is part of the Medical sector. This group has a Zacks Industry Rank of 175, putting it in the bottom 32% 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.
Make sure to utilize Zacks. Com to follow all of these stock-moving metrics, and more, in the coming trading sessions.