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Abbott (ABT) Stock Moves -1.52%: What You Should Know
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In the latest trading session, Abbott (ABT - Free Report) closed at $100.91, marking a -1.52% move from the previous day. This change was narrower than the S&P 500's 2.37% loss on the day. At the same time, the Dow lost 1.35%, and the tech-heavy Nasdaq lost 0.21%.
Coming into today, shares of the maker of infant formula, medical devices and drugs had lost 2.47% in the past month. In that same time, the Medical sector lost 3.73%, while the S&P 500 lost 6.51%.
Investors will be hoping for strength from Abbott as it approaches its next earnings release, which is expected to be October 19, 2022. The company is expected to report EPS of $0.90, down 35.71% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $9.58 billion, down 12.34% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $5 per share and revenue of $42.35 billion, which would represent changes of -4.03% and -1.69%, respectively, from the prior year.
Any recent changes to analyst estimates for Abbott should also be noted by investors. These revisions help to show the ever-changing nature of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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.
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 0.33% higher. Abbott is currently sporting a Zacks Rank of #3 (Hold).
Investors should also note Abbott's current valuation metrics, including its Forward P/E ratio of 20.48. Its industry sports an average Forward P/E of 18.67, so we one might conclude that Abbott is trading at a premium comparatively.
Meanwhile, ABT's PEG ratio is currently 3.88. 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. Medical - Products stocks are, on average, holding a PEG ratio of 2.17 based on yesterday's closing prices.
The Medical - Products industry is part of the Medical sector. This industry currently has a Zacks Industry Rank of 146, which puts it in the bottom 43% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. 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 -1.52%: What You Should Know
In the latest trading session, Abbott (ABT - Free Report) closed at $100.91, marking a -1.52% move from the previous day. This change was narrower than the S&P 500's 2.37% loss on the day. At the same time, the Dow lost 1.35%, and the tech-heavy Nasdaq lost 0.21%.
Coming into today, shares of the maker of infant formula, medical devices and drugs had lost 2.47% in the past month. In that same time, the Medical sector lost 3.73%, while the S&P 500 lost 6.51%.
Investors will be hoping for strength from Abbott as it approaches its next earnings release, which is expected to be October 19, 2022. The company is expected to report EPS of $0.90, down 35.71% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $9.58 billion, down 12.34% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $5 per share and revenue of $42.35 billion, which would represent changes of -4.03% and -1.69%, respectively, from the prior year.
Any recent changes to analyst estimates for Abbott should also be noted by investors. These revisions help to show the ever-changing nature of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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.
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 0.33% higher. Abbott is currently sporting a Zacks Rank of #3 (Hold).
Investors should also note Abbott's current valuation metrics, including its Forward P/E ratio of 20.48. Its industry sports an average Forward P/E of 18.67, so we one might conclude that Abbott is trading at a premium comparatively.
Meanwhile, ABT's PEG ratio is currently 3.88. 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. Medical - Products stocks are, on average, holding a PEG ratio of 2.17 based on yesterday's closing prices.
The Medical - Products industry is part of the Medical sector. This industry currently has a Zacks Industry Rank of 146, which puts it in the bottom 43% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. 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.