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Abbott (ABT) Gains As Market Dips: What You Should Know
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Abbott (ABT - Free Report) closed at $108.57 in the latest trading session, marking a +0.36% move from the prior day. This move outpaced the S&P 500's daily loss of 0.41%. Meanwhile, the Dow gained 0.11%, and the Nasdaq, a tech-heavy index, lost 6.67%.
Prior to today's trading, shares of the maker of infant formula, medical devices and drugs had gained 2.65% over the past month. This has outpaced the Medical sector's gain of 0.95% and the S&P 500's loss of 4.4% in that time.
Wall Street will be looking for positivity from Abbott as it approaches its next earnings report date. 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%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $9.47 billion, down 17.41% from the year-ago period.
ABT's full-year Zacks Consensus Estimates are calling for earnings of $5.21 per share and revenue of $43.03 billion. These results would represent year-over-year changes of 0% and -0.1%, respectively.
Investors should also note any recent changes to analyst estimates for Abbott. Recent revisions tend to reflect the latest near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about 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, 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. Within the past 30 days, our consensus EPS projection remained stagnant. Abbott currently has a Zacks Rank of #3 (Hold).
Digging into valuation, Abbott currently has a Forward P/E ratio of 20.77. This valuation marks a premium compared to its industry's average Forward P/E of 19.42.
Also, we should mention that ABT has a PEG ratio of 4.08. 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. ABT's industry had an average PEG ratio of 2.23 as of yesterday's close.
The Medical - Products industry is part of the Medical sector. This industry currently has a Zacks Industry Rank of 184, which puts it in the bottom 27% 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.
View the Zacks #1 Rank List
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Abbott (ABT) Gains As Market Dips: What You Should Know
Abbott (ABT - Free Report) closed at $108.57 in the latest trading session, marking a +0.36% move from the prior day. This move outpaced the S&P 500's daily loss of 0.41%. Meanwhile, the Dow gained 0.11%, and the Nasdaq, a tech-heavy index, lost 6.67%.
Prior to today's trading, shares of the maker of infant formula, medical devices and drugs had gained 2.65% over the past month. This has outpaced the Medical sector's gain of 0.95% and the S&P 500's loss of 4.4% in that time.
Wall Street will be looking for positivity from Abbott as it approaches its next earnings report date. 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%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $9.47 billion, down 17.41% from the year-ago period.
ABT's full-year Zacks Consensus Estimates are calling for earnings of $5.21 per share and revenue of $43.03 billion. These results would represent year-over-year changes of 0% and -0.1%, respectively.
Investors should also note any recent changes to analyst estimates for Abbott. Recent revisions tend to reflect the latest near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about 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, 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. Within the past 30 days, our consensus EPS projection remained stagnant. Abbott currently has a Zacks Rank of #3 (Hold).
Digging into valuation, Abbott currently has a Forward P/E ratio of 20.77. This valuation marks a premium compared to its industry's average Forward P/E of 19.42.
Also, we should mention that ABT has a PEG ratio of 4.08. 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. ABT's industry had an average PEG ratio of 2.23 as of yesterday's close.
The Medical - Products industry is part of the Medical sector. This industry currently has a Zacks Industry Rank of 184, which puts it in the bottom 27% 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.