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Abbott (ABT) Stock Dips While Market Gains: Key Facts
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Abbott (ABT - Free Report) closed the most recent trading day at $103.23, moving -0.19% from the previous trading session. This move lagged the S&P 500's daily gain of 1.19%. Meanwhile, the Dow gained 0.25%, and the Nasdaq, a tech-heavy index, added 1.96%.
The the stock of maker of infant formula, medical devices and drugs has fallen by 2.58% in the past month, lagging the Medical sector's gain of 3.54% and the S&P 500's gain of 3.35%.
The investment community will be closely monitoring the performance of Abbott in its forthcoming earnings report. The company is forecasted to report an EPS of $1.10, showcasing a 1.85% upward movement from the corresponding quarter of the prior year. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $10.35 billion, up 3.78% from the year-ago period.
ABT's full-year Zacks Consensus Estimates are calling for earnings of $4.62 per share and revenue of $41.66 billion. These results would represent year-over-year changes of +4.05% and +3.86%, respectively.
It's also important for investors to be aware of any recent modifications to analyst estimates for Abbott. Recent revisions tend to reflect the latest near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. 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, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has remained unchanged. Right now, Abbott possesses a Zacks Rank of #3 (Hold).
From a valuation perspective, Abbott is currently exchanging hands at a Forward P/E ratio of 22.39. This signifies a discount in comparison to the average Forward P/E of 22.43 for its industry.
We can additionally observe that ABT currently boasts a PEG ratio of 2.49. 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. ABT's industry had an average PEG ratio of 2.15 as of yesterday's close.
The Medical - Products industry is part of the Medical sector. This group has a Zacks Industry Rank of 89, putting it in the top 36% of all 250+ industries.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained 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) Stock Dips While Market Gains: Key Facts
Abbott (ABT - Free Report) closed the most recent trading day at $103.23, moving -0.19% from the previous trading session. This move lagged the S&P 500's daily gain of 1.19%. Meanwhile, the Dow gained 0.25%, and the Nasdaq, a tech-heavy index, added 1.96%.
The the stock of maker of infant formula, medical devices and drugs has fallen by 2.58% in the past month, lagging the Medical sector's gain of 3.54% and the S&P 500's gain of 3.35%.
The investment community will be closely monitoring the performance of Abbott in its forthcoming earnings report. The company is forecasted to report an EPS of $1.10, showcasing a 1.85% upward movement from the corresponding quarter of the prior year. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $10.35 billion, up 3.78% from the year-ago period.
ABT's full-year Zacks Consensus Estimates are calling for earnings of $4.62 per share and revenue of $41.66 billion. These results would represent year-over-year changes of +4.05% and +3.86%, respectively.
It's also important for investors to be aware of any recent modifications to analyst estimates for Abbott. Recent revisions tend to reflect the latest near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. 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, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has remained unchanged. Right now, Abbott possesses a Zacks Rank of #3 (Hold).
From a valuation perspective, Abbott is currently exchanging hands at a Forward P/E ratio of 22.39. This signifies a discount in comparison to the average Forward P/E of 22.43 for its industry.
We can additionally observe that ABT currently boasts a PEG ratio of 2.49. 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. ABT's industry had an average PEG ratio of 2.15 as of yesterday's close.
The Medical - Products industry is part of the Medical sector. This group has a Zacks Industry Rank of 89, putting it in the top 36% of all 250+ industries.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained 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.