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Abbott (ABT) Dips More Than Broader Markets: What You Should Know
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Abbott (ABT - Free Report) closed at $108.09 in the latest trading session, marking a -0.81% move from the prior day. This change lagged the S&P 500's daily loss of 0.39%. Meanwhile, the Dow gained 0.12%, and the Nasdaq, a tech-heavy index, lost 0.1%.
Heading into today, shares of the maker of infant formula, medical devices and drugs had lost 1.83% over the past month, lagging the Medical sector's gain of 5.94% and the S&P 500's gain of 4.06% in that time.
Wall Street will be looking for positivity from ABT as it approaches its next earnings report date. The company is expected to report EPS of $1.36, up 43.16% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $9.91 billion, up 19.18% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $3.57 per share and revenue of $33.83 billion, which would represent changes of +10.19% and +6.05%, 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.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, 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. Over the past month, the Zacks Consensus EPS estimate has moved 0.02% higher. ABT is currently a Zacks Rank #3 (Hold).
In terms of valuation, ABT is currently trading at a Forward P/E ratio of 30.56. Its industry sports an average Forward P/E of 36.92, so we one might conclude that ABT is trading at a discount comparatively.
We can also see that ABT currently has a PEG ratio of 2.48. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. The Medical - Products industry currently had an average PEG ratio of 3.63 as of yesterday's close.
The Medical - Products industry is part of the Medical sector. This group has a Zacks Industry Rank of 118, putting it in the top 47% 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.
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Abbott (ABT) Dips More Than Broader Markets: What You Should Know
Abbott (ABT - Free Report) closed at $108.09 in the latest trading session, marking a -0.81% move from the prior day. This change lagged the S&P 500's daily loss of 0.39%. Meanwhile, the Dow gained 0.12%, and the Nasdaq, a tech-heavy index, lost 0.1%.
Heading into today, shares of the maker of infant formula, medical devices and drugs had lost 1.83% over the past month, lagging the Medical sector's gain of 5.94% and the S&P 500's gain of 4.06% in that time.
Wall Street will be looking for positivity from ABT as it approaches its next earnings report date. The company is expected to report EPS of $1.36, up 43.16% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $9.91 billion, up 19.18% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $3.57 per share and revenue of $33.83 billion, which would represent changes of +10.19% and +6.05%, 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.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, 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. Over the past month, the Zacks Consensus EPS estimate has moved 0.02% higher. ABT is currently a Zacks Rank #3 (Hold).
In terms of valuation, ABT is currently trading at a Forward P/E ratio of 30.56. Its industry sports an average Forward P/E of 36.92, so we one might conclude that ABT is trading at a discount comparatively.
We can also see that ABT currently has a PEG ratio of 2.48. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. The Medical - Products industry currently had an average PEG ratio of 3.63 as of yesterday's close.
The Medical - Products industry is part of the Medical sector. This group has a Zacks Industry Rank of 118, putting it in the top 47% 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.