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Abbott (ABT) Advances While Market Declines: Some Information for Investors
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Abbott (ABT - Free Report) ended the recent trading session at $112.73, demonstrating a +0.29% swing from the preceding day's closing price. This move outpaced the S&P 500's daily loss of 0.15%. At the same time, the Dow lost 0.42%, and the tech-heavy Nasdaq gained 0.09%.
The maker of infant formula, medical devices and drugs's stock has climbed by 5.82% in the past month, falling short of the Medical sector's gain of 6.58% and outpacing the S&P 500's gain of 3.5%.
Investors will be eagerly watching for the performance of Abbott in its upcoming earnings disclosure. The company's earnings report is set to be unveiled on January 24, 2024. The company's upcoming EPS is projected at $1.19, signifying a 15.53% increase compared to the same quarter of the previous year. In the meantime, our current consensus estimate forecasts the revenue to be $10.14 billion, indicating a 0.49% growth compared to the corresponding quarter of the prior year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Abbott. These latest adjustments often mirror the shifting dynamics of short-term business patterns. 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, 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. The Zacks Consensus EPS estimate remained stagnant within the past month. At present, Abbott boasts a Zacks Rank of #3 (Hold).
From a valuation perspective, Abbott is currently exchanging hands at a Forward P/E ratio of 24.35. This denotes a premium relative to the industry's average Forward P/E of 22.
Investors should also note that ABT has a PEG ratio of 2.71 right now. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. As the market closed yesterday, the Medical - Products industry was having an average PEG ratio of 2.59.
The Medical - Products industry is part of the Medical sector. This industry currently has a Zacks Industry Rank of 168, which puts it in the bottom 34% of all 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) ended the recent trading session at $112.73, demonstrating a +0.29% swing from the preceding day's closing price. This move outpaced the S&P 500's daily loss of 0.15%. At the same time, the Dow lost 0.42%, and the tech-heavy Nasdaq gained 0.09%.
The maker of infant formula, medical devices and drugs's stock has climbed by 5.82% in the past month, falling short of the Medical sector's gain of 6.58% and outpacing the S&P 500's gain of 3.5%.
Investors will be eagerly watching for the performance of Abbott in its upcoming earnings disclosure. The company's earnings report is set to be unveiled on January 24, 2024. The company's upcoming EPS is projected at $1.19, signifying a 15.53% increase compared to the same quarter of the previous year. In the meantime, our current consensus estimate forecasts the revenue to be $10.14 billion, indicating a 0.49% growth compared to the corresponding quarter of the prior year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Abbott. These latest adjustments often mirror the shifting dynamics of short-term business patterns. 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, 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. The Zacks Consensus EPS estimate remained stagnant within the past month. At present, Abbott boasts a Zacks Rank of #3 (Hold).
From a valuation perspective, Abbott is currently exchanging hands at a Forward P/E ratio of 24.35. This denotes a premium relative to the industry's average Forward P/E of 22.
Investors should also note that ABT has a PEG ratio of 2.71 right now. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. As the market closed yesterday, the Medical - Products industry was having an average PEG ratio of 2.59.
The Medical - Products industry is part of the Medical sector. This industry currently has a Zacks Industry Rank of 168, which puts it in the bottom 34% of all 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.