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Abbott (ABT) Advances While Market Declines: Some Information for Investors
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Abbott (ABT - Free Report) closed the latest trading day at $104.94, indicating a +0.57% change from the previous session's end. The stock's change was more than the S&P 500's daily loss of 0.39%. On the other hand, the Dow registered a loss of 0.19%, and the technology-centric Nasdaq decreased by 0.59%.
Coming into today, shares of the maker of infant formula, medical devices and drugs had gained 10.07% in the past month. In that same time, the Medical sector gained 3.38%, while the S&P 500 gained 5.08%.
Market participants will be closely following the financial results of Abbott in its upcoming release. The company's upcoming EPS is projected at $1.19, signifying a 15.53% increase compared to the same quarter of the previous year. Meanwhile, our latest consensus estimate is calling for revenue of $10.14 billion, up 0.49% from the prior-year quarter.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $4.44 per share and revenue of $40.01 billion, indicating changes of -16.85% and -8.35%, respectively, compared to the previous year.
Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for Abbott. These recent revisions tend to reflect the evolving nature of short-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.
The Zacks Rank system, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed an unchanged state. Currently, Abbott is carrying a Zacks Rank of #3 (Hold).
From a valuation perspective, Abbott is currently exchanging hands at a Forward P/E ratio of 23.5. This represents a premium compared to its industry's average Forward P/E of 19.55.
Also, we should mention that ABT has a PEG ratio of 2.61. 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 average PEG ratio for the Medical - Products industry stood at 2.59 at the close of the market yesterday.
The Medical - Products industry is part of the Medical sector. At present, this industry carries a Zacks Industry Rank of 143, placing it within the bottom 44% of over 250 industries.
The Zacks Industry Rank is ordered from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. 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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Abbott (ABT) Advances While Market Declines: Some Information for Investors
Abbott (ABT - Free Report) closed the latest trading day at $104.94, indicating a +0.57% change from the previous session's end. The stock's change was more than the S&P 500's daily loss of 0.39%. On the other hand, the Dow registered a loss of 0.19%, and the technology-centric Nasdaq decreased by 0.59%.
Coming into today, shares of the maker of infant formula, medical devices and drugs had gained 10.07% in the past month. In that same time, the Medical sector gained 3.38%, while the S&P 500 gained 5.08%.
Market participants will be closely following the financial results of Abbott in its upcoming release. The company's upcoming EPS is projected at $1.19, signifying a 15.53% increase compared to the same quarter of the previous year. Meanwhile, our latest consensus estimate is calling for revenue of $10.14 billion, up 0.49% from the prior-year quarter.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $4.44 per share and revenue of $40.01 billion, indicating changes of -16.85% and -8.35%, respectively, compared to the previous year.
Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for Abbott. These recent revisions tend to reflect the evolving nature of short-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.
The Zacks Rank system, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed an unchanged state. Currently, Abbott is carrying a Zacks Rank of #3 (Hold).
From a valuation perspective, Abbott is currently exchanging hands at a Forward P/E ratio of 23.5. This represents a premium compared to its industry's average Forward P/E of 19.55.
Also, we should mention that ABT has a PEG ratio of 2.61. 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 average PEG ratio for the Medical - Products industry stood at 2.59 at the close of the market yesterday.
The Medical - Products industry is part of the Medical sector. At present, this industry carries a Zacks Industry Rank of 143, placing it within the bottom 44% of over 250 industries.
The Zacks Industry Rank is ordered from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. 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.