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The most recent trading session ended with Abbott (ABT - Free Report) standing at $117.63, reflecting a +1.06% shift from the previouse trading day's closing. The stock exceeded the S&P 500, which registered a gain of 0.13% for the day. Elsewhere, the Dow saw an upswing of 0.55%, while the tech-heavy Nasdaq depreciated by 0.52%.
The maker of infant formula, medical devices and drugs's shares have seen an increase of 4.86% over the last month, surpassing the Medical sector's gain of 3.34% and the S&P 500's gain of 3.67%.
Investors will be eagerly watching for the performance of Abbott in its upcoming earnings disclosure. The company's earnings per share (EPS) are projected to be $1.20, reflecting a 5.26% increase from the same quarter last year. In the meantime, our current consensus estimate forecasts the revenue to be $10.52 billion, indicating a 3.75% growth compared to the corresponding quarter of the prior year.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $4.66 per share and revenue of $41.73 billion, indicating changes of +4.95% and +4.05%, respectively, compared to the previous year.
It is also important to note the recent changes to analyst estimates for Abbott. These revisions typically reflect the latest short-term business trends, which can change frequently. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.
The Zacks Rank system, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Over the past month, the Zacks Consensus EPS estimate has remained steady. Abbott currently has a Zacks Rank of #3 (Hold).
Looking at its valuation, Abbott is holding a Forward P/E ratio of 24.97. This signifies no noticeable deviation in comparison to the average Forward P/E of 24.97 for its industry.
Investors should also note that ABT has a PEG ratio of 2.9 right now. 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 industry had an average PEG ratio of 2.1 as trading concluded yesterday.
The Medical - Products industry is part of the Medical sector. This industry, currently bearing a Zacks Industry Rank of 76, finds itself in the top 31% echelons of all 250+ industries.
The Zacks Industry Rank is ordered 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 use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.
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Abbott (ABT) Rises Higher Than Market: Key Facts
The most recent trading session ended with Abbott (ABT - Free Report) standing at $117.63, reflecting a +1.06% shift from the previouse trading day's closing. The stock exceeded the S&P 500, which registered a gain of 0.13% for the day. Elsewhere, the Dow saw an upswing of 0.55%, while the tech-heavy Nasdaq depreciated by 0.52%.
The maker of infant formula, medical devices and drugs's shares have seen an increase of 4.86% over the last month, surpassing the Medical sector's gain of 3.34% and the S&P 500's gain of 3.67%.
Investors will be eagerly watching for the performance of Abbott in its upcoming earnings disclosure. The company's earnings per share (EPS) are projected to be $1.20, reflecting a 5.26% increase from the same quarter last year. In the meantime, our current consensus estimate forecasts the revenue to be $10.52 billion, indicating a 3.75% growth compared to the corresponding quarter of the prior year.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $4.66 per share and revenue of $41.73 billion, indicating changes of +4.95% and +4.05%, respectively, compared to the previous year.
It is also important to note the recent changes to analyst estimates for Abbott. These revisions typically reflect the latest short-term business trends, which can change frequently. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.
The Zacks Rank system, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Over the past month, the Zacks Consensus EPS estimate has remained steady. Abbott currently has a Zacks Rank of #3 (Hold).
Looking at its valuation, Abbott is holding a Forward P/E ratio of 24.97. This signifies no noticeable deviation in comparison to the average Forward P/E of 24.97 for its industry.
Investors should also note that ABT has a PEG ratio of 2.9 right now. 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 industry had an average PEG ratio of 2.1 as trading concluded yesterday.
The Medical - Products industry is part of the Medical sector. This industry, currently bearing a Zacks Industry Rank of 76, finds itself in the top 31% echelons of all 250+ industries.
The Zacks Industry Rank is ordered 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 use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.