Abbott (ABT - Free Report) closed the most recent trading day at $72.96, moving +0.63% from the previous trading session. This move outpaced the S&P 500's daily loss of 0.25%. Elsewhere, the Dow gained 0.04%, while the tech-heavy Nasdaq lost 0.53%.
Prior to today's trading, shares of the maker of infant formula, medical devices and drugs had gained 5.19% over the past month. This has outpaced the Medical sector's loss of 1.06% and the S&P 500's loss of 2.35% in that time.
Wall Street will be looking for positivity from ABT as it approaches its next earnings report date. This is expected to be January 23, 2019. The company is expected to report EPS of $0.81, up 9.46% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $7.79 billion, up 2.64% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $2.88 per share and revenue of $30.61 billion. These totals would mark changes of +15.2% and +11.74%, respectively, from last year.
Any recent changes to analyst estimates for ABT should also be noted by investors. These recent revisions tend to reflect the evolving nature of short-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 shows that these estimate changes are directly correlated with near-term stock prices. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable 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 has moved 0.07% higher. ABT is holding a Zacks Rank of #3 (Hold) right now.
In terms of valuation, ABT is currently trading at a Forward P/E ratio of 25.15. This valuation marks a discount compared to its industry's average Forward P/E of 25.86.
It is also worth noting that ABT currently has a PEG ratio of 2.16. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. The Medical - Products was holding an average PEG ratio of 2.4 at yesterday's closing price.
The Medical - Products industry is part of the Medical sector. This group has a Zacks Industry Rank of 101, putting 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.
To follow ABT in the coming trading sessions, be sure to utilize Zacks.com.