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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 $108.56, marking a +1.93% move from the previous day. This change outpaced the S&P 500's 1.8% gain on the day. Elsewhere, the Dow gained 1.68%, while the tech-heavy Nasdaq added 2.33%.
Coming into today, shares of the maker of infant formula, medical devices and drugs had gained 0.92% in the past month. In that same time, the Medical sector lost 2.81%, while the S&P 500 lost 6.31%.
Investors will be hoping for strength from ABT as it approaches its next earnings release, which is expected to be October 21, 2020. On that day, ABT is projected to report earnings of $0.89 per share, which would represent year-over-year growth of 5.95%. Meanwhile, our latest consensus estimate is calling for revenue of $8.43 billion, up 4.4% from the prior-year quarter.
For the full year, our Zacks Consensus Estimates are projecting earnings of $3.27 per share and revenue of $32.88 billion, which would represent changes of +0.93% and +3.05%, respectively, from the prior year.
Investors might also notice recent changes to analyst estimates for ABT. These recent revisions tend to reflect the evolving nature of short-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 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. Over the past month, the Zacks Consensus EPS estimate remained stagnant. ABT currently has a Zacks Rank of #3 (Hold).
Investors should also note ABT's current valuation metrics, including its Forward P/E ratio of 32.54. For comparison, its industry has an average Forward P/E of 36.88, which means ABT is trading at a discount to the group.
It is also worth noting that ABT currently has a PEG ratio of 2.96. 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. ABT's industry had an average PEG ratio of 3.81 as of yesterday's close.
The Medical - Products industry is part of the Medical sector. This group has a Zacks Industry Rank of 173, 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.
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 $108.56, marking a +1.93% move from the previous day. This change outpaced the S&P 500's 1.8% gain on the day. Elsewhere, the Dow gained 1.68%, while the tech-heavy Nasdaq added 2.33%.
Coming into today, shares of the maker of infant formula, medical devices and drugs had gained 0.92% in the past month. In that same time, the Medical sector lost 2.81%, while the S&P 500 lost 6.31%.
Investors will be hoping for strength from ABT as it approaches its next earnings release, which is expected to be October 21, 2020. On that day, ABT is projected to report earnings of $0.89 per share, which would represent year-over-year growth of 5.95%. Meanwhile, our latest consensus estimate is calling for revenue of $8.43 billion, up 4.4% from the prior-year quarter.
For the full year, our Zacks Consensus Estimates are projecting earnings of $3.27 per share and revenue of $32.88 billion, which would represent changes of +0.93% and +3.05%, respectively, from the prior year.
Investors might also notice recent changes to analyst estimates for ABT. These recent revisions tend to reflect the evolving nature of short-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 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. Over the past month, the Zacks Consensus EPS estimate remained stagnant. ABT currently has a Zacks Rank of #3 (Hold).
Investors should also note ABT's current valuation metrics, including its Forward P/E ratio of 32.54. For comparison, its industry has an average Forward P/E of 36.88, which means ABT is trading at a discount to the group.
It is also worth noting that ABT currently has a PEG ratio of 2.96. 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. ABT's industry had an average PEG ratio of 3.81 as of yesterday's close.
The Medical - Products industry is part of the Medical sector. This group has a Zacks Industry Rank of 173, 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.