Abbott (ABT - Free Report) closed the most recent trading day at $70.08, moving +0.47% from the previous trading session. The stock outpaced the S&P 500's daily gain of 0.01%. Elsewhere, the Dow gained 0.35%, while the tech-heavy Nasdaq added 0.45%.
Prior to today's trading, shares of the maker of infant formula, medical devices and drugs had lost 1.12% over the past month. This has was narrower than the Medical sector's loss of 5.57% and the S&P 500's loss of 7.29% in that time.
Investors will be hoping for strength from ABT as it approaches its next earnings release, which is expected to be January 23, 2019. On that day, ABT is projected to report earnings of $0.81 per share, which would represent year-over-year growth of 9.46%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $7.79 billion, up 2.64% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $2.89 per share and revenue of $30.61 billion, which would represent changes of +15.6% and +11.74%, respectively, from the prior year.
Investors might also notice recent changes to analyst estimates for ABT. Recent revisions tend to reflect the latest near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an 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. Within the past 30 days, our consensus EPS projection remained stagnant. ABT currently has a Zacks Rank of #3 (Hold).
Looking at its valuation, ABT is holding a Forward P/E ratio of 24.17. This represents a premium compared to its industry's average Forward P/E of 23.81.
We can also see that ABT currently has a PEG ratio of 2.07. 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. Medical - Products stocks are, on average, holding a PEG ratio of 2.1 based on yesterday's closing prices.
The Medical - Products industry is part of the Medical sector. This group has a Zacks Industry Rank of 97, putting it in the top 38% of all 250+ industries.
The Zacks Industry Rank includes is listed in order 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.