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Abbott (ABT) Gains As Market Dips: What You Should Know
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In the latest trading session, Abbott (ABT - Free Report) closed at $103.38, marking a +0.29% move from the previous day. This change outpaced the S&P 500's 0.2% loss on the day. Meanwhile, the Dow lost 0.14%, and the Nasdaq, a tech-heavy index, lost 0.12%.
Heading into today, shares of the maker of infant formula, medical devices and drugs had gained 0.36% over the past month, outpacing the Medical sector's loss of 0.3% and the S&P 500's loss of 3.29% in that time.
Wall Street will be looking for positivity from Abbott as it approaches its next earnings report date. This is expected to be October 19, 2022. The company is expected to report EPS of $0.89, down 36.43% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $9.57 billion, down 12.46% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $4.99 per share and revenue of $42.34 billion, which would represent changes of -4.22% and -1.7%, respectively, from the prior year.
It is also important to note the recent changes to analyst estimates for Abbott. These revisions help to show the ever-changing nature of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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 ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 0.11% higher. Abbott is currently a Zacks Rank #3 (Hold).
Investors should also note Abbott's current valuation metrics, including its Forward P/E ratio of 20.64. This represents a premium compared to its industry's average Forward P/E of 17.33.
Also, we should mention that ABT has a PEG ratio of 3.91. 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. The Medical - Products was holding an average PEG ratio of 2.23 at yesterday's closing price.
The Medical - Products industry is part of the Medical sector. This industry currently has a Zacks Industry Rank of 168, which puts it in the bottom 34% 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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Abbott (ABT) Gains As Market Dips: What You Should Know
In the latest trading session, Abbott (ABT - Free Report) closed at $103.38, marking a +0.29% move from the previous day. This change outpaced the S&P 500's 0.2% loss on the day. Meanwhile, the Dow lost 0.14%, and the Nasdaq, a tech-heavy index, lost 0.12%.
Heading into today, shares of the maker of infant formula, medical devices and drugs had gained 0.36% over the past month, outpacing the Medical sector's loss of 0.3% and the S&P 500's loss of 3.29% in that time.
Wall Street will be looking for positivity from Abbott as it approaches its next earnings report date. This is expected to be October 19, 2022. The company is expected to report EPS of $0.89, down 36.43% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $9.57 billion, down 12.46% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $4.99 per share and revenue of $42.34 billion, which would represent changes of -4.22% and -1.7%, respectively, from the prior year.
It is also important to note the recent changes to analyst estimates for Abbott. These revisions help to show the ever-changing nature of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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 ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 0.11% higher. Abbott is currently a Zacks Rank #3 (Hold).
Investors should also note Abbott's current valuation metrics, including its Forward P/E ratio of 20.64. This represents a premium compared to its industry's average Forward P/E of 17.33.
Also, we should mention that ABT has a PEG ratio of 3.91. 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. The Medical - Products was holding an average PEG ratio of 2.23 at yesterday's closing price.
The Medical - Products industry is part of the Medical sector. This industry currently has a Zacks Industry Rank of 168, which puts it in the bottom 34% 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.