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(ABT) Ascends While Market Falls: Some Facts to Note
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Abbott (ABT - Free Report) closed the most recent trading day at $96.20, moving +0.58% from the previous trading session. This move outpaced the S&P 500's daily loss of 0.13%. Meanwhile, the Dow experienced a drop of 0.03%, and the technology-dominated Nasdaq saw a decrease of 0.12%.
Coming into today, shares of the maker of infant formula, medical devices and drugs had lost 5.82% in the past month. In that same time, the Medical sector lost 4.65%, while the S&P 500 lost 5.53%.
Market participants will be closely following the financial results of Abbott in its upcoming release. The company plans to announce its earnings on October 18, 2023. The company is predicted to post an EPS of $1.10, indicating a 4.35% decline compared to the equivalent quarter last year. Meanwhile, our latest consensus estimate is calling for revenue of $9.78 billion, down 6.06% from the prior-year quarter.
For the annual period, the Zacks Consensus Estimates anticipate earnings of $4.40 per share and a revenue of $39.77 billion, signifying shifts of -17.6% and -8.89%, respectively, from the last year.
It is also important to note the recent changes to analyst estimates for Abbott. Such recent modifications usually signify the changing landscape of near-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.
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, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has remained steady. Abbott is currently sporting a Zacks Rank of #3 (Hold).
From a valuation perspective, Abbott is currently exchanging hands at a Forward P/E ratio of 21.74. This indicates a premium in contrast to its industry's Forward P/E of 18.5.
We can additionally observe that ABT currently boasts a PEG ratio of 4.27. 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. The Medical - Products industry currently had an average PEG ratio of 2.59 as of yesterday's close.
The Medical - Products industry is part of the Medical sector. At present, this industry carries a Zacks Industry Rank of 90, placing it within the top 36% of over 250 industries.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.
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(ABT) Ascends While Market Falls: Some Facts to Note
Abbott (ABT - Free Report) closed the most recent trading day at $96.20, moving +0.58% from the previous trading session. This move outpaced the S&P 500's daily loss of 0.13%. Meanwhile, the Dow experienced a drop of 0.03%, and the technology-dominated Nasdaq saw a decrease of 0.12%.
Coming into today, shares of the maker of infant formula, medical devices and drugs had lost 5.82% in the past month. In that same time, the Medical sector lost 4.65%, while the S&P 500 lost 5.53%.
Market participants will be closely following the financial results of Abbott in its upcoming release. The company plans to announce its earnings on October 18, 2023. The company is predicted to post an EPS of $1.10, indicating a 4.35% decline compared to the equivalent quarter last year. Meanwhile, our latest consensus estimate is calling for revenue of $9.78 billion, down 6.06% from the prior-year quarter.
For the annual period, the Zacks Consensus Estimates anticipate earnings of $4.40 per share and a revenue of $39.77 billion, signifying shifts of -17.6% and -8.89%, respectively, from the last year.
It is also important to note the recent changes to analyst estimates for Abbott. Such recent modifications usually signify the changing landscape of near-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.
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, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has remained steady. Abbott is currently sporting a Zacks Rank of #3 (Hold).
From a valuation perspective, Abbott is currently exchanging hands at a Forward P/E ratio of 21.74. This indicates a premium in contrast to its industry's Forward P/E of 18.5.
We can additionally observe that ABT currently boasts a PEG ratio of 4.27. 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. The Medical - Products industry currently had an average PEG ratio of 2.59 as of yesterday's close.
The Medical - Products industry is part of the Medical sector. At present, this industry carries a Zacks Industry Rank of 90, placing it within the top 36% of over 250 industries.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.