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Abbott (ABT) Dips More Than Broader Market: What You Should Know
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In the latest close session, Abbott (ABT - Free Report) was down 2.28% at $89.17. The stock trailed the S&P 500, which registered a daily loss of 1.62%. Meanwhile, the Dow lost 1.87%, and the Nasdaq, a tech-heavy index, lost 1.98%.
The stock of maker of infant formula, medical devices and drugs has risen by 8.18% in the past month, leading the Medical sector's gain of 5.04% and the S&P 500's loss of 0.03%.
Market participants will be closely following the financial results of Abbott in its upcoming release. The company's upcoming EPS is projected at $1.28, signifying a 1.59% increase compared to the same quarter of the previous year. At the same time, our most recent consensus estimate is projecting a revenue of $12.53 billion, reflecting a 12.43% rise from the equivalent quarter last year.
For the annual period, the Zacks Consensus Estimates anticipate earnings of $5.48 per share and a revenue of $50.49 billion, signifying shifts of +6.41% and +13.9%, respectively, from the last year.
It is also important to note the recent changes to analyst estimates for Abbott. These latest adjustments often mirror the shifting dynamics of short-term business patterns. With this in mind, we can consider positive estimate revisions a sign of optimism about the business outlook.
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, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Over the past month, the Zacks Consensus EPS estimate has remained steady. Abbott currently has a Zacks Rank of #4 (Sell).
Digging into valuation, Abbott currently has a Forward P/E ratio of 16.66. This denotes a discount relative to the industry average Forward P/E of 17.7.
It's also important to note that ABT currently trades at a PEG ratio of 1.52. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. As of the close of trade yesterday, the Medical - Products industry held an average PEG ratio of 1.58.
The Medical - Products industry is part of the Medical sector. At present, this industry carries a Zacks Industry Rank of 164, placing it within the bottom 33% 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.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.
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Abbott (ABT) Dips More Than Broader Market: What You Should Know
In the latest close session, Abbott (ABT - Free Report) was down 2.28% at $89.17. The stock trailed the S&P 500, which registered a daily loss of 1.62%. Meanwhile, the Dow lost 1.87%, and the Nasdaq, a tech-heavy index, lost 1.98%.
The stock of maker of infant formula, medical devices and drugs has risen by 8.18% in the past month, leading the Medical sector's gain of 5.04% and the S&P 500's loss of 0.03%.
Market participants will be closely following the financial results of Abbott in its upcoming release. The company's upcoming EPS is projected at $1.28, signifying a 1.59% increase compared to the same quarter of the previous year. At the same time, our most recent consensus estimate is projecting a revenue of $12.53 billion, reflecting a 12.43% rise from the equivalent quarter last year.
For the annual period, the Zacks Consensus Estimates anticipate earnings of $5.48 per share and a revenue of $50.49 billion, signifying shifts of +6.41% and +13.9%, respectively, from the last year.
It is also important to note the recent changes to analyst estimates for Abbott. These latest adjustments often mirror the shifting dynamics of short-term business patterns. With this in mind, we can consider positive estimate revisions a sign of optimism about the business outlook.
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, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Over the past month, the Zacks Consensus EPS estimate has remained steady. Abbott currently has a Zacks Rank of #4 (Sell).
Digging into valuation, Abbott currently has a Forward P/E ratio of 16.66. This denotes a discount relative to the industry average Forward P/E of 17.7.
It's also important to note that ABT currently trades at a PEG ratio of 1.52. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. As of the close of trade yesterday, the Medical - Products industry held an average PEG ratio of 1.58.
The Medical - Products industry is part of the Medical sector. At present, this industry carries a Zacks Industry Rank of 164, placing it within the bottom 33% 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.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.