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Abbott (ABT) Increases Despite Market Slip: Here's What You Need to Know
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In the latest trading session, Abbott (ABT - Free Report) closed at $111.50, marking a +1.35% move from the previous day. The stock outperformed the S&P 500, which registered a daily loss of 0.28%. Elsewhere, the Dow saw a downswing of 0.08%, while the tech-heavy Nasdaq depreciated by 0.42%.
Heading into today, shares of the maker of infant formula, medical devices and drugs had lost 7.31% over the past month, lagging the Medical sector's loss of 1.21% and the S&P 500's gain of 2.67% in that time.
The upcoming earnings release of Abbott will be of great interest to investors. The company is predicted to post an EPS of $0.96, indicating a 6.8% decline compared to the equivalent quarter last year. In the meantime, our current consensus estimate forecasts the revenue to be $9.85 billion, indicating a 1.02% growth compared to the corresponding quarter of the prior year.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $4.62 per share and revenue of $41.9 billion, indicating changes of +4.05% and +4.47%, respectively, compared to the previous 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. 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. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable 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. Over the past month, there's been no change in the Zacks Consensus EPS estimate. Abbott currently has a Zacks Rank of #4 (Sell).
In the context of valuation, Abbott is at present trading with a Forward P/E ratio of 23.83. This valuation marks a premium compared to its industry's average Forward P/E of 22.49.
We can also see that ABT currently has a PEG ratio of 2.65. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. As the market closed yesterday, the Medical - Products industry was having an average PEG ratio of 2.38.
The Medical - Products industry is part of the Medical sector. At present, this industry carries a Zacks Industry Rank of 87, placing it within the top 35% 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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Abbott (ABT) Increases Despite Market Slip: Here's What You Need to Know
In the latest trading session, Abbott (ABT - Free Report) closed at $111.50, marking a +1.35% move from the previous day. The stock outperformed the S&P 500, which registered a daily loss of 0.28%. Elsewhere, the Dow saw a downswing of 0.08%, while the tech-heavy Nasdaq depreciated by 0.42%.
Heading into today, shares of the maker of infant formula, medical devices and drugs had lost 7.31% over the past month, lagging the Medical sector's loss of 1.21% and the S&P 500's gain of 2.67% in that time.
The upcoming earnings release of Abbott will be of great interest to investors. The company is predicted to post an EPS of $0.96, indicating a 6.8% decline compared to the equivalent quarter last year. In the meantime, our current consensus estimate forecasts the revenue to be $9.85 billion, indicating a 1.02% growth compared to the corresponding quarter of the prior year.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $4.62 per share and revenue of $41.9 billion, indicating changes of +4.05% and +4.47%, respectively, compared to the previous 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. 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. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable 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. Over the past month, there's been no change in the Zacks Consensus EPS estimate. Abbott currently has a Zacks Rank of #4 (Sell).
In the context of valuation, Abbott is at present trading with a Forward P/E ratio of 23.83. This valuation marks a premium compared to its industry's average Forward P/E of 22.49.
We can also see that ABT currently has a PEG ratio of 2.65. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. As the market closed yesterday, the Medical - Products industry was having an average PEG ratio of 2.38.
The Medical - Products industry is part of the Medical sector. At present, this industry carries a Zacks Industry Rank of 87, placing it within the top 35% 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.