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Abbott (ABT) Registers a Bigger Fall Than the Market: Important Facts to Note
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In the latest trading session, Abbott (ABT - Free Report) closed at $101.07, marking a -2.34% move from the previous day. This move lagged the S&P 500's daily loss of 0.03%. Elsewhere, the Dow lost 0.31%, while the tech-heavy Nasdaq added 0.01%.
Shares of the maker of infant formula, medical devices and drugs witnessed a loss of 9.3% over the previous month, trailing the performance of the Medical sector with its loss of 4.15%, and the S&P 500's gain of 0.53%.
Market participants will be closely following the financial results of Abbott in its upcoming release. The company is forecasted to report an EPS of $1.43, showcasing a 10% upward movement from the corresponding quarter of the prior year. In the meantime, our current consensus estimate forecasts the revenue to be $12.91 billion, indicating a 13.52% growth compared to the corresponding quarter of the prior year.
ABT's full-year Zacks Consensus Estimates are calling for earnings of $5.52 per share and revenue of $50.32 billion. These results would represent year-over-year changes of +7.18% and +13.51%, respectively.
Investors should also pay attention to any latest changes in analyst estimates for Abbott. Such recent modifications usually signify the changing landscape of near-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the business health and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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, 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 #3 (Hold).
Investors should also note Abbott's current valuation metrics, including its Forward P/E ratio of 18.74. This represents a discount compared to its industry average Forward P/E of 20.18.
It's also important to note that ABT currently trades at a PEG ratio of 1.92. 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. The Medical - Products was holding an average PEG ratio of 1.74 at yesterday's closing price.
The Medical - Products industry is part of the Medical sector. At present, this industry carries a Zacks Industry Rank of 107, placing it within the top 44% of over 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.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.
View the Zacks #1 Rank List
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Abbott (ABT) Registers a Bigger Fall Than the Market: Important Facts to Note
In the latest trading session, Abbott (ABT - Free Report) closed at $101.07, marking a -2.34% move from the previous day. This move lagged the S&P 500's daily loss of 0.03%. Elsewhere, the Dow lost 0.31%, while the tech-heavy Nasdaq added 0.01%.
Shares of the maker of infant formula, medical devices and drugs witnessed a loss of 9.3% over the previous month, trailing the performance of the Medical sector with its loss of 4.15%, and the S&P 500's gain of 0.53%.
Market participants will be closely following the financial results of Abbott in its upcoming release. The company is forecasted to report an EPS of $1.43, showcasing a 10% upward movement from the corresponding quarter of the prior year. In the meantime, our current consensus estimate forecasts the revenue to be $12.91 billion, indicating a 13.52% growth compared to the corresponding quarter of the prior year.
ABT's full-year Zacks Consensus Estimates are calling for earnings of $5.52 per share and revenue of $50.32 billion. These results would represent year-over-year changes of +7.18% and +13.51%, respectively.
Investors should also pay attention to any latest changes in analyst estimates for Abbott. Such recent modifications usually signify the changing landscape of near-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the business health and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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, 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 #3 (Hold).
Investors should also note Abbott's current valuation metrics, including its Forward P/E ratio of 18.74. This represents a discount compared to its industry average Forward P/E of 20.18.
It's also important to note that ABT currently trades at a PEG ratio of 1.92. 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. The Medical - Products was holding an average PEG ratio of 1.74 at yesterday's closing price.
The Medical - Products industry is part of the Medical sector. At present, this industry carries a Zacks Industry Rank of 107, placing it within the top 44% of over 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.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.