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Abbott (ABT) Increases Yet Falls Behind Market: What Investors Need to Know
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In the latest market close, Abbott (ABT - Free Report) reached $112.73, with a +0.11% movement compared to the previous day. The stock's performance was behind the S&P 500's daily gain of 0.4%. Meanwhile, the Dow experienced a rise of 0.62%, and the technology-dominated Nasdaq saw an increase of 0.6%.
The maker of infant formula, medical devices and drugs's stock has dropped by 0.26% in the past month, exceeding the Medical sector's loss of 2.27% and lagging the S&P 500's gain of 1.71%.
Market participants will be closely following the financial results of Abbott in its upcoming release. The company plans to announce its earnings on October 16, 2024. It is anticipated that the company will report an EPS of $1.20, marking a 5.26% rise compared to the same quarter of the previous year. Alongside, our most recent consensus estimate is anticipating revenue of $10.53 billion, indicating a 3.77% upward movement from the same quarter last year.
For the full year, the Zacks Consensus Estimates are projecting earnings of $4.66 per share and revenue of $41.72 billion, which would represent changes of +4.95% and +4.03%, respectively, from the prior year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Abbott. Such recent modifications usually signify the changing landscape of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.
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 past month, the Zacks Consensus EPS estimate has moved 0.03% lower. At present, Abbott boasts a Zacks Rank of #4 (Sell).
Looking at valuation, Abbott is presently trading at a Forward P/E ratio of 24.16. This valuation marks a premium compared to its industry's average Forward P/E of 24.1.
One should further note that ABT currently holds a PEG ratio of 2.8. 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. By the end of yesterday's trading, the Medical - Products industry had an average PEG ratio of 2.
The Medical - Products industry is part of the Medical sector. At present, this industry carries a Zacks Industry Rank of 61, placing it within the top 25% of over 250 industries.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming 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) Increases Yet Falls Behind Market: What Investors Need to Know
In the latest market close, Abbott (ABT - Free Report) reached $112.73, with a +0.11% movement compared to the previous day. The stock's performance was behind the S&P 500's daily gain of 0.4%. Meanwhile, the Dow experienced a rise of 0.62%, and the technology-dominated Nasdaq saw an increase of 0.6%.
The maker of infant formula, medical devices and drugs's stock has dropped by 0.26% in the past month, exceeding the Medical sector's loss of 2.27% and lagging the S&P 500's gain of 1.71%.
Market participants will be closely following the financial results of Abbott in its upcoming release. The company plans to announce its earnings on October 16, 2024. It is anticipated that the company will report an EPS of $1.20, marking a 5.26% rise compared to the same quarter of the previous year. Alongside, our most recent consensus estimate is anticipating revenue of $10.53 billion, indicating a 3.77% upward movement from the same quarter last year.
For the full year, the Zacks Consensus Estimates are projecting earnings of $4.66 per share and revenue of $41.72 billion, which would represent changes of +4.95% and +4.03%, respectively, from the prior year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Abbott. Such recent modifications usually signify the changing landscape of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.
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 past month, the Zacks Consensus EPS estimate has moved 0.03% lower. At present, Abbott boasts a Zacks Rank of #4 (Sell).
Looking at valuation, Abbott is presently trading at a Forward P/E ratio of 24.16. This valuation marks a premium compared to its industry's average Forward P/E of 24.1.
One should further note that ABT currently holds a PEG ratio of 2.8. 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. By the end of yesterday's trading, the Medical - Products industry had an average PEG ratio of 2.
The Medical - Products industry is part of the Medical sector. At present, this industry carries a Zacks Industry Rank of 61, placing it within the top 25% of over 250 industries.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming 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.