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Abbott (ABT) Gains As Market Dips: What You Should Know
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Abbott (ABT - Free Report) closed at $107.93 in the latest trading session, marking a +0.33% move from the prior day. The stock outpaced the S&P 500's daily loss of 0.09%. Elsewhere, the Dow lost 0.56%, while the tech-heavy Nasdaq added 0.22%.
Prior to today's trading, shares of the maker of infant formula, medical devices and drugs had gained 9.73% over the past month. This has outpaced the Medical sector's gain of 5.18% and the S&P 500's gain of 5.55% in that time.
Investors will be hoping for strength from Abbott as it approaches its next earnings release. In that report, analysts expect Abbott to post earnings of $0.90 per share. This would mark a year-over-year decline of 31.82%. Our most recent consensus estimate is calling for quarterly revenue of $9.47 billion, down 17.43% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $5.21 per share and revenue of $43.03 billion, which would represent changes of 0% and -0.1%, 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.
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.
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. Within the past 30 days, our consensus EPS projection has moved 0.06% lower. Abbott currently has a Zacks Rank of #3 (Hold).
Valuation is also important, so investors should note that Abbott has a Forward P/E ratio of 20.66 right now. This valuation marks a premium compared to its industry's average Forward P/E of 19.02.
We can also see that ABT currently has a PEG ratio of 4.06. 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 2.26 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 164, which puts it in the bottom 35% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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Abbott (ABT) Gains As Market Dips: What You Should Know
Abbott (ABT - Free Report) closed at $107.93 in the latest trading session, marking a +0.33% move from the prior day. The stock outpaced the S&P 500's daily loss of 0.09%. Elsewhere, the Dow lost 0.56%, while the tech-heavy Nasdaq added 0.22%.
Prior to today's trading, shares of the maker of infant formula, medical devices and drugs had gained 9.73% over the past month. This has outpaced the Medical sector's gain of 5.18% and the S&P 500's gain of 5.55% in that time.
Investors will be hoping for strength from Abbott as it approaches its next earnings release. In that report, analysts expect Abbott to post earnings of $0.90 per share. This would mark a year-over-year decline of 31.82%. Our most recent consensus estimate is calling for quarterly revenue of $9.47 billion, down 17.43% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $5.21 per share and revenue of $43.03 billion, which would represent changes of 0% and -0.1%, 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.
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.
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. Within the past 30 days, our consensus EPS projection has moved 0.06% lower. Abbott currently has a Zacks Rank of #3 (Hold).
Valuation is also important, so investors should note that Abbott has a Forward P/E ratio of 20.66 right now. This valuation marks a premium compared to its industry's average Forward P/E of 19.02.
We can also see that ABT currently has a PEG ratio of 4.06. 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 2.26 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 164, which puts it in the bottom 35% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.