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Abbott (ABT) Stock Sinks As Market Gains: What You Should Know
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In the latest trading session, Abbott (ABT - Free Report) closed at $111.36, marking a -1.58% move from the previous day. This change lagged the S&P 500's daily gain of 0.34%. Meanwhile, the Dow gained 0.64%, and the Nasdaq, a tech-heavy index, added 8.98%.
Prior to today's trading, shares of the maker of infant formula, medical devices and drugs had gained 1.7% over the past month. This has outpaced the Medical sector's loss of 0.28% and the S&P 500's gain of 1% 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 25, 2023. The company is expected to report EPS of $0.90, down 31.82% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $9.48 billion, down 17.36% from the year-ago period.
Investors might also notice recent changes to analyst estimates for Abbott. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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 has moved 0.16% lower. 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 25.79 right now. This represents a premium compared to its industry's average Forward P/E of 23.14.
Investors should also note that ABT has a PEG ratio of 5.07 right now. 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 2.3 at yesterday's closing price.
The Medical - Products industry is part of the Medical sector. This industry currently has a Zacks Industry Rank of 157, which puts it in the bottom 38% 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.
You can find more information on all of these metrics, and much more, on Zacks.com.
View the Zacks #1 Rank List
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Abbott (ABT) Stock Sinks As Market Gains: What You Should Know
In the latest trading session, Abbott (ABT - Free Report) closed at $111.36, marking a -1.58% move from the previous day. This change lagged the S&P 500's daily gain of 0.34%. Meanwhile, the Dow gained 0.64%, and the Nasdaq, a tech-heavy index, added 8.98%.
Prior to today's trading, shares of the maker of infant formula, medical devices and drugs had gained 1.7% over the past month. This has outpaced the Medical sector's loss of 0.28% and the S&P 500's gain of 1% 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 25, 2023. The company is expected to report EPS of $0.90, down 31.82% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $9.48 billion, down 17.36% from the year-ago period.
Investors might also notice recent changes to analyst estimates for Abbott. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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 has moved 0.16% lower. 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 25.79 right now. This represents a premium compared to its industry's average Forward P/E of 23.14.
Investors should also note that ABT has a PEG ratio of 5.07 right now. 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 2.3 at yesterday's closing price.
The Medical - Products industry is part of the Medical sector. This industry currently has a Zacks Industry Rank of 157, which puts it in the bottom 38% 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.
You can find more information on all of these metrics, and much more, on Zacks.com.