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Abbott (ABT - Free Report) closed the latest trading day at $112.44, indicating a +1.74% change from the previous session's end. The stock outperformed the S&P 500, which registered a daily gain of 0.15%. On the other hand, the Dow registered a loss of 0.02%, and the technology-centric Nasdaq increased by 0.32%.
Shares of the maker of infant formula, medical devices and drugs have depreciated by 8.05% over the course of the past month, underperforming the Medical sector's loss of 4.03% and the S&P 500's gain of 1.65%.
The investment community will be closely monitoring the performance of Abbott in its forthcoming earnings report. The company is scheduled to release its earnings on April 17, 2024. The company's earnings per share (EPS) are projected to be $0.96, reflecting a 6.8% decrease from the same quarter last year. At the same time, our most recent consensus estimate is projecting a revenue of $9.85 billion, reflecting a 1.02% rise from the equivalent quarter last year.
For the full year, the Zacks Consensus Estimates project earnings of $4.62 per share and a revenue of $41.9 billion, demonstrating changes of +4.05% and +4.47%, respectively, from the preceding year.
Investors should also take note of any recent adjustments to analyst estimates for Abbott. These revisions typically reflect the latest short-term business trends, which can change frequently. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational 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. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed an unchanged state. Right now, Abbott possesses a Zacks Rank of #3 (Hold).
From a valuation perspective, Abbott is currently exchanging hands at a Forward P/E ratio of 23.94. This valuation marks a premium compared to its industry's average Forward P/E of 21.64.
One should further note that ABT currently holds a PEG ratio of 2.66. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. The average PEG ratio for the Medical - Products industry stood at 2.37 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 96, positioning it in the top 39% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.
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Abbott (ABT) Rises Higher Than Market: Key Facts
Abbott (ABT - Free Report) closed the latest trading day at $112.44, indicating a +1.74% change from the previous session's end. The stock outperformed the S&P 500, which registered a daily gain of 0.15%. On the other hand, the Dow registered a loss of 0.02%, and the technology-centric Nasdaq increased by 0.32%.
Shares of the maker of infant formula, medical devices and drugs have depreciated by 8.05% over the course of the past month, underperforming the Medical sector's loss of 4.03% and the S&P 500's gain of 1.65%.
The investment community will be closely monitoring the performance of Abbott in its forthcoming earnings report. The company is scheduled to release its earnings on April 17, 2024. The company's earnings per share (EPS) are projected to be $0.96, reflecting a 6.8% decrease from the same quarter last year. At the same time, our most recent consensus estimate is projecting a revenue of $9.85 billion, reflecting a 1.02% rise from the equivalent quarter last year.
For the full year, the Zacks Consensus Estimates project earnings of $4.62 per share and a revenue of $41.9 billion, demonstrating changes of +4.05% and +4.47%, respectively, from the preceding year.
Investors should also take note of any recent adjustments to analyst estimates for Abbott. These revisions typically reflect the latest short-term business trends, which can change frequently. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational 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. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed an unchanged state. Right now, Abbott possesses a Zacks Rank of #3 (Hold).
From a valuation perspective, Abbott is currently exchanging hands at a Forward P/E ratio of 23.94. This valuation marks a premium compared to its industry's average Forward P/E of 21.64.
One should further note that ABT currently holds a PEG ratio of 2.66. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. The average PEG ratio for the Medical - Products industry stood at 2.37 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 96, positioning it in the top 39% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.