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Abbott (ABT) Stock Sinks As Market Gains: What You Should Know
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Abbott (ABT - Free Report) closed at $99.40 in the latest trading session, marking a -0.58% move from the prior day. This change lagged the S&P 500's daily gain of 0.14%. Elsewhere, the Dow lost 0.18%, while the tech-heavy Nasdaq added 1.54%.
Heading into today, shares of the maker of infant formula, medical devices and drugs had lost 10.72% over the past month, lagging the Medical sector's loss of 3.71% and the S&P 500's loss of 4.07% in that time.
Wall Street will be looking for positivity from Abbott as it approaches its next earnings report date. In that report, analysts expect Abbott to post earnings of $0.98 per share. This would mark a year-over-year decline of 43.35%. Our most recent consensus estimate is calling for quarterly revenue of $9.64 billion, down 18.98% from the year-ago period.
ABT's full-year Zacks Consensus Estimates are calling for earnings of $4.38 per share and revenue of $39.74 billion. These results would represent year-over-year changes of -17.98% and -8.97%, respectively.
Investors should also note any recent changes to analyst estimates for Abbott. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. Abbott is holding a Zacks Rank of #3 (Hold) right now.
Investors should also note Abbott's current valuation metrics, including its Forward P/E ratio of 22.82. Its industry sports an average Forward P/E of 22.39, so we one might conclude that Abbott is trading at a premium comparatively.
It is also worth noting that ABT currently has a PEG ratio of 4.48. 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 2.21 at yesterday's closing price.
The Medical - Products industry is part of the Medical sector. This industry currently has a Zacks Industry Rank of 155, which puts it in the bottom 39% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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Abbott (ABT) Stock Sinks As Market Gains: What You Should Know
Abbott (ABT - Free Report) closed at $99.40 in the latest trading session, marking a -0.58% move from the prior day. This change lagged the S&P 500's daily gain of 0.14%. Elsewhere, the Dow lost 0.18%, while the tech-heavy Nasdaq added 1.54%.
Heading into today, shares of the maker of infant formula, medical devices and drugs had lost 10.72% over the past month, lagging the Medical sector's loss of 3.71% and the S&P 500's loss of 4.07% in that time.
Wall Street will be looking for positivity from Abbott as it approaches its next earnings report date. In that report, analysts expect Abbott to post earnings of $0.98 per share. This would mark a year-over-year decline of 43.35%. Our most recent consensus estimate is calling for quarterly revenue of $9.64 billion, down 18.98% from the year-ago period.
ABT's full-year Zacks Consensus Estimates are calling for earnings of $4.38 per share and revenue of $39.74 billion. These results would represent year-over-year changes of -17.98% and -8.97%, respectively.
Investors should also note any recent changes to analyst estimates for Abbott. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. Abbott is holding a Zacks Rank of #3 (Hold) right now.
Investors should also note Abbott's current valuation metrics, including its Forward P/E ratio of 22.82. Its industry sports an average Forward P/E of 22.39, so we one might conclude that Abbott is trading at a premium comparatively.
It is also worth noting that ABT currently has a PEG ratio of 4.48. 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 2.21 at yesterday's closing price.
The Medical - Products industry is part of the Medical sector. This industry currently has a Zacks Industry Rank of 155, which puts it in the bottom 39% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.