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Abbott (ABT) Stock Sinks As Market Gains: What You Should Know
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In the latest trading session, Abbott (ABT - Free Report) closed at $118.94, marking a -0.75% move from the previous day. This change lagged the S&P 500's daily gain of 1.18%. Elsewhere, the Dow gained 0.52%, while the tech-heavy Nasdaq added 1.76%.
Heading into today, shares of the maker of infant formula, medical devices and drugs had gained 0.55% over the past month, lagging the Medical sector's gain of 0.58% and the S&P 500's gain of 4.55% in that time.
Wall Street will be looking for positivity from ABT as it approaches its next earnings report date. This is expected to be April 20, 2021. The company is expected to report EPS of $1.36, up 109.23% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $10.84 billion, up 40.3% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $5.07 per share and revenue of $42.43 billion, which would represent changes of +38.9% and +22.59%, respectively, from the prior year.
Investors might also notice recent changes to analyst estimates for ABT. These revisions typically reflect the latest short-term business trends, which can change frequently. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
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, 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. The Zacks Consensus EPS estimate remained stagnant within the past month. ABT is currently a Zacks Rank #3 (Hold).
Looking at its valuation, ABT is holding a Forward P/E ratio of 23.65. This valuation marks a discount compared to its industry's average Forward P/E of 29.07.
We can also see that ABT currently has a PEG ratio of 1.69. 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. The Medical - Products was holding an average PEG ratio of 2.58 at yesterday's closing price.
The Medical - Products industry is part of the Medical sector. This industry currently has a Zacks Industry Rank of 142, which puts it in the bottom 45% 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.
You can find more information on all of these metrics, and much more, on Zacks.com.
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Abbott (ABT) Stock Sinks As Market Gains: What You Should Know
In the latest trading session, Abbott (ABT - Free Report) closed at $118.94, marking a -0.75% move from the previous day. This change lagged the S&P 500's daily gain of 1.18%. Elsewhere, the Dow gained 0.52%, while the tech-heavy Nasdaq added 1.76%.
Heading into today, shares of the maker of infant formula, medical devices and drugs had gained 0.55% over the past month, lagging the Medical sector's gain of 0.58% and the S&P 500's gain of 4.55% in that time.
Wall Street will be looking for positivity from ABT as it approaches its next earnings report date. This is expected to be April 20, 2021. The company is expected to report EPS of $1.36, up 109.23% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $10.84 billion, up 40.3% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $5.07 per share and revenue of $42.43 billion, which would represent changes of +38.9% and +22.59%, respectively, from the prior year.
Investors might also notice recent changes to analyst estimates for ABT. These revisions typically reflect the latest short-term business trends, which can change frequently. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
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, 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. The Zacks Consensus EPS estimate remained stagnant within the past month. ABT is currently a Zacks Rank #3 (Hold).
Looking at its valuation, ABT is holding a Forward P/E ratio of 23.65. This valuation marks a discount compared to its industry's average Forward P/E of 29.07.
We can also see that ABT currently has a PEG ratio of 1.69. 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. The Medical - Products was holding an average PEG ratio of 2.58 at yesterday's closing price.
The Medical - Products industry is part of the Medical sector. This industry currently has a Zacks Industry Rank of 142, which puts it in the bottom 45% 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.
You can find more information on all of these metrics, and much more, on Zacks.com.