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Abbott (ABT) Gains But Lags Market: What You Should Know
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In the latest trading session, Abbott (ABT - Free Report) closed at $107.50, marking a +0.45% move from the previous day. This move lagged the S&P 500's daily gain of 0.67%. Elsewhere, the Dow gained 0.93%, while the tech-heavy Nasdaq added 9.29%.
Prior to today's trading, shares of the maker of infant formula, medical devices and drugs had gained 5.54% over the past month. This has outpaced the Medical sector's loss of 1.19% and the S&P 500's gain of 2.65% 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 July 20, 2023. The company is expected to report EPS of $1.04, down 27.27% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $9.67 billion, down 14.08% from the prior-year quarter.
For the full year, our Zacks Consensus Estimates are projecting earnings of $4.39 per share and revenue of $39.39 billion, which would represent changes of -17.79% and -9.78%, 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 such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
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. The Zacks Consensus EPS estimate remained stagnant within the past month. Abbott is holding a Zacks Rank of #2 (Buy) right now.
Looking at its valuation, Abbott is holding a Forward P/E ratio of 24.4. For comparison, its industry has an average Forward P/E of 23.25, which means Abbott is trading at a premium to the group.
Investors should also note that ABT has a PEG ratio of 4.79 right now. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. The Medical - Products was holding an average PEG ratio of 2.61 at yesterday's closing price.
The Medical - Products industry is part of the Medical sector. This group has a Zacks Industry Rank of 81, putting it in the top 33% 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 But Lags Market: What You Should Know
In the latest trading session, Abbott (ABT - Free Report) closed at $107.50, marking a +0.45% move from the previous day. This move lagged the S&P 500's daily gain of 0.67%. Elsewhere, the Dow gained 0.93%, while the tech-heavy Nasdaq added 9.29%.
Prior to today's trading, shares of the maker of infant formula, medical devices and drugs had gained 5.54% over the past month. This has outpaced the Medical sector's loss of 1.19% and the S&P 500's gain of 2.65% 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 July 20, 2023. The company is expected to report EPS of $1.04, down 27.27% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $9.67 billion, down 14.08% from the prior-year quarter.
For the full year, our Zacks Consensus Estimates are projecting earnings of $4.39 per share and revenue of $39.39 billion, which would represent changes of -17.79% and -9.78%, 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 such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
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. The Zacks Consensus EPS estimate remained stagnant within the past month. Abbott is holding a Zacks Rank of #2 (Buy) right now.
Looking at its valuation, Abbott is holding a Forward P/E ratio of 24.4. For comparison, its industry has an average Forward P/E of 23.25, which means Abbott is trading at a premium to the group.
Investors should also note that ABT has a PEG ratio of 4.79 right now. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. The Medical - Products was holding an average PEG ratio of 2.61 at yesterday's closing price.
The Medical - Products industry is part of the Medical sector. This group has a Zacks Industry Rank of 81, putting it in the top 33% 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.