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Abbott (ABT) Outpaces Stock Market Gains: What You Should Know
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Abbott (ABT - Free Report) closed at $123.01 in the latest trading session, marking a +1.63% move from the prior day. The stock outpaced the S&P 500's daily gain of 0.33%.
Prior to today's trading, shares of the maker of infant formula, medical devices and drugs had gained 3.59% over the past month. This has outpaced the Medical sector's loss of 4.07% and lagged the S&P 500's gain of 4.77% in that time.
ABT will be looking to display strength as it nears its next earnings release, which is expected to be April 20, 2021. The company is expected to report EPS of $1.33, up 104.62% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue 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.
Any recent changes to analyst estimates for ABT should also be noted by investors. 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 remained stagnant. ABT is currently a Zacks Rank #3 (Hold).
In terms of valuation, ABT is currently trading at a Forward P/E ratio of 23.86. For comparison, its industry has an average Forward P/E of 29.61, which means ABT is trading at a discount to the group.
It is also worth noting that ABT currently has a PEG ratio of 1.7. 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 was holding an average PEG ratio of 2.64 at yesterday's closing price.
The Medical - Products industry is part of the Medical sector. This group has a Zacks Industry Rank of 188, putting it in the bottom 26% 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) Outpaces Stock Market Gains: What You Should Know
Abbott (ABT - Free Report) closed at $123.01 in the latest trading session, marking a +1.63% move from the prior day. The stock outpaced the S&P 500's daily gain of 0.33%.
Prior to today's trading, shares of the maker of infant formula, medical devices and drugs had gained 3.59% over the past month. This has outpaced the Medical sector's loss of 4.07% and lagged the S&P 500's gain of 4.77% in that time.
ABT will be looking to display strength as it nears its next earnings release, which is expected to be April 20, 2021. The company is expected to report EPS of $1.33, up 104.62% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue 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.
Any recent changes to analyst estimates for ABT should also be noted by investors. 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 remained stagnant. ABT is currently a Zacks Rank #3 (Hold).
In terms of valuation, ABT is currently trading at a Forward P/E ratio of 23.86. For comparison, its industry has an average Forward P/E of 29.61, which means ABT is trading at a discount to the group.
It is also worth noting that ABT currently has a PEG ratio of 1.7. 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 was holding an average PEG ratio of 2.64 at yesterday's closing price.
The Medical - Products industry is part of the Medical sector. This group has a Zacks Industry Rank of 188, putting it in the bottom 26% 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.