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Abbott (ABT) Stock Moves -1.06%: What You Should Know
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In the latest trading session, Abbott (ABT - Free Report) closed at $124.71, marking a -1.06% move from the previous day. This move was narrower than the S&P 500's daily loss of 1.1%. Meanwhile, the Dow lost 0.89%, and the Nasdaq, a tech-heavy index, added 0.03%.
Prior to today's trading, shares of the maker of infant formula, medical devices and drugs had lost 9.31% over the past month. This has lagged the Medical sector's loss of 7.84% and the S&P 500's loss of 1.81% in that time.
Wall Street will be looking for positivity from Abbott as it approaches its next earnings report date. This is expected to be January 26, 2022. The company is expected to report EPS of $1.17, down 19.31% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $10.42 billion, down 2.59% from the year-ago period.
It is also important to note the recent changes to analyst estimates for Abbott. These revisions help to show the ever-changing nature of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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 has moved 0.75% higher. Abbott is currently sporting a Zacks Rank of #3 (Hold).
Valuation is also important, so investors should note that Abbott has a Forward P/E ratio of 26.85 right now. Its industry sports an average Forward P/E of 21.81, so we one might conclude that Abbott is trading at a premium comparatively.
Investors should also note that ABT has a PEG ratio of 2.44 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. The Medical - Products industry currently had an average PEG ratio of 1.57 as of yesterday's close.
The Medical - Products industry is part of the Medical sector. This industry currently has a Zacks Industry Rank of 191, which puts 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.
To follow ABT in the coming trading sessions, be sure to utilize Zacks.com.
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Abbott (ABT) Stock Moves -1.06%: What You Should Know
In the latest trading session, Abbott (ABT - Free Report) closed at $124.71, marking a -1.06% move from the previous day. This move was narrower than the S&P 500's daily loss of 1.1%. Meanwhile, the Dow lost 0.89%, and the Nasdaq, a tech-heavy index, added 0.03%.
Prior to today's trading, shares of the maker of infant formula, medical devices and drugs had lost 9.31% over the past month. This has lagged the Medical sector's loss of 7.84% and the S&P 500's loss of 1.81% in that time.
Wall Street will be looking for positivity from Abbott as it approaches its next earnings report date. This is expected to be January 26, 2022. The company is expected to report EPS of $1.17, down 19.31% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $10.42 billion, down 2.59% from the year-ago period.
It is also important to note the recent changes to analyst estimates for Abbott. These revisions help to show the ever-changing nature of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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 has moved 0.75% higher. Abbott is currently sporting a Zacks Rank of #3 (Hold).
Valuation is also important, so investors should note that Abbott has a Forward P/E ratio of 26.85 right now. Its industry sports an average Forward P/E of 21.81, so we one might conclude that Abbott is trading at a premium comparatively.
Investors should also note that ABT has a PEG ratio of 2.44 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. The Medical - Products industry currently had an average PEG ratio of 1.57 as of yesterday's close.
The Medical - Products industry is part of the Medical sector. This industry currently has a Zacks Industry Rank of 191, which puts 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.
To follow ABT in the coming trading sessions, be sure to utilize Zacks.com.