We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Abbott (ABT) Registers a Bigger Fall Than the Market: Important Facts to Note
Read MoreHide Full Article
In the latest market close, Abbott (ABT - Free Report) reached $120.19, with a -0.64% movement compared to the previous day. The stock fell short of the S&P 500, which registered a loss of 0.11% for the day. Meanwhile, the Dow gained 0.12%, and the Nasdaq, a tech-heavy index, lost 0.41%.
Prior to today's trading, shares of the maker of infant formula, medical devices and drugs had gained 8.18% over the past month. This has outpaced the Medical sector's gain of 3.03% and the S&P 500's gain of 2.7% in that time.
The investment community will be closely monitoring the performance of Abbott in its forthcoming earnings report. In that report, analysts expect Abbott to post earnings of $0.96 per share. This would mark a year-over-year decline of 6.8%. Meanwhile, our latest consensus estimate is calling for revenue of $9.85 billion, up 1.02% from the prior-year quarter.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $4.62 per share and a revenue of $41.9 billion, indicating changes of +4.05% and +4.47%, respectively, from the former 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. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 0.12% increase. As of now, Abbott holds a Zacks Rank of #3 (Hold).
In terms of valuation, Abbott is currently trading at a Forward P/E ratio of 26.2. This valuation marks a premium compared to its industry's average Forward P/E of 21.1.
One should further note that ABT currently holds a PEG ratio of 2.91. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. The average PEG ratio for the Medical - Products industry stood at 2.54 at the close of the market yesterday.
The Medical - Products industry is part of the Medical sector. Currently, this industry holds a Zacks Industry Rank of 154, positioning it in the bottom 39% of all 250+ industries.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
Abbott (ABT) Registers a Bigger Fall Than the Market: Important Facts to Note
In the latest market close, Abbott (ABT - Free Report) reached $120.19, with a -0.64% movement compared to the previous day. The stock fell short of the S&P 500, which registered a loss of 0.11% for the day. Meanwhile, the Dow gained 0.12%, and the Nasdaq, a tech-heavy index, lost 0.41%.
Prior to today's trading, shares of the maker of infant formula, medical devices and drugs had gained 8.18% over the past month. This has outpaced the Medical sector's gain of 3.03% and the S&P 500's gain of 2.7% in that time.
The investment community will be closely monitoring the performance of Abbott in its forthcoming earnings report. In that report, analysts expect Abbott to post earnings of $0.96 per share. This would mark a year-over-year decline of 6.8%. Meanwhile, our latest consensus estimate is calling for revenue of $9.85 billion, up 1.02% from the prior-year quarter.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $4.62 per share and a revenue of $41.9 billion, indicating changes of +4.05% and +4.47%, respectively, from the former 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. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 0.12% increase. As of now, Abbott holds a Zacks Rank of #3 (Hold).
In terms of valuation, Abbott is currently trading at a Forward P/E ratio of 26.2. This valuation marks a premium compared to its industry's average Forward P/E of 21.1.
One should further note that ABT currently holds a PEG ratio of 2.91. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. The average PEG ratio for the Medical - Products industry stood at 2.54 at the close of the market yesterday.
The Medical - Products industry is part of the Medical sector. Currently, this industry holds a Zacks Industry Rank of 154, positioning it in the bottom 39% of all 250+ industries.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.