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Abbott (ABT) Declines More Than Market: Some Information for Investors
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The latest trading session saw Abbott (ABT - Free Report) ending at $112.09, denoting a -1.38% adjustment from its last day's close. This change lagged the S&P 500's 0.2% loss on the day. Elsewhere, the Dow saw a downswing of 0.6%, while the tech-heavy Nasdaq appreciated by 0.11%.
Shares of the maker of infant formula, medical devices and drugs witnessed a loss of 4.18% over the previous month, trailing the performance of the Medical sector with its gain of 2.21% and the S&P 500's gain of 3.32%.
Market participants will be closely following the financial results of Abbott in its upcoming release. The company plans to announce its earnings on April 17, 2024. The company is expected to report EPS of $0.96, down 6.8% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $9.85 billion, up 1.02% from the prior-year quarter.
Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of $4.62 per share and revenue of $41.9 billion. These totals would mark changes of +4.05% and +4.47%, respectively, from last year.
Investors should also note any recent changes to analyst estimates for Abbott. These revisions help to show the ever-changing nature of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable 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 past month, the Zacks Consensus EPS estimate remained stagnant. Currently, Abbott is carrying a Zacks Rank of #4 (Sell).
In terms of valuation, Abbott is presently being traded at a Forward P/E ratio of 24.62. This expresses a premium compared to the average Forward P/E of 22.63 of its industry.
Meanwhile, ABT's PEG ratio is currently 2.74. 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 2.44 at the close of the market yesterday.
The Medical - Products industry is part of the Medical sector. This group has a Zacks Industry Rank of 92, putting it in the top 37% of all 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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Abbott (ABT) Declines More Than Market: Some Information for Investors
The latest trading session saw Abbott (ABT - Free Report) ending at $112.09, denoting a -1.38% adjustment from its last day's close. This change lagged the S&P 500's 0.2% loss on the day. Elsewhere, the Dow saw a downswing of 0.6%, while the tech-heavy Nasdaq appreciated by 0.11%.
Shares of the maker of infant formula, medical devices and drugs witnessed a loss of 4.18% over the previous month, trailing the performance of the Medical sector with its gain of 2.21% and the S&P 500's gain of 3.32%.
Market participants will be closely following the financial results of Abbott in its upcoming release. The company plans to announce its earnings on April 17, 2024. The company is expected to report EPS of $0.96, down 6.8% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $9.85 billion, up 1.02% from the prior-year quarter.
Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of $4.62 per share and revenue of $41.9 billion. These totals would mark changes of +4.05% and +4.47%, respectively, from last year.
Investors should also note any recent changes to analyst estimates for Abbott. These revisions help to show the ever-changing nature of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable 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 past month, the Zacks Consensus EPS estimate remained stagnant. Currently, Abbott is carrying a Zacks Rank of #4 (Sell).
In terms of valuation, Abbott is presently being traded at a Forward P/E ratio of 24.62. This expresses a premium compared to the average Forward P/E of 22.63 of its industry.
Meanwhile, ABT's PEG ratio is currently 2.74. 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 2.44 at the close of the market yesterday.
The Medical - Products industry is part of the Medical sector. This group has a Zacks Industry Rank of 92, putting it in the top 37% of all 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.