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Abbott (ABT) Dips More Than Broader Markets: What You Should Know
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Abbott (ABT - Free Report) closed the most recent trading day at $75.14, moving -0.53% from the previous trading session. This change lagged the S&P 500's daily loss of 0.35%. At the same time, the Dow lost 0.4%, and the tech-heavy Nasdaq lost 0.39%.
Prior to today's trading, shares of the maker of infant formula, medical devices and drugs had gained 8.05% over the past month. This has outpaced the Medical sector's gain of 3.02% and the S&P 500's gain of 4.48% in that time.
Wall Street will be looking for positivity from ABT as it approaches its next earnings report date. On that day, ABT is projected to report earnings of $0.61 per share, which would represent year-over-year growth of 3.39%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $7.48 billion, up 1.17% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $3.20 per share and revenue of $31.80 billion, which would represent changes of +11.11% and +4.01%, respectively, from the prior year.
Investors might also notice recent changes to analyst estimates for ABT. These revisions help to show the ever-changing nature 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 shows that these estimate changes are directly correlated with near-term stock prices. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an 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. The Zacks Consensus EPS estimate has moved 0.42% higher within the past month. ABT currently has a Zacks Rank of #2 (Buy).
Investors should also note ABT's current valuation metrics, including its Forward P/E ratio of 23.61. This valuation marks a discount compared to its industry's average Forward P/E of 23.87.
Investors should also note that ABT has a PEG ratio of 2.01 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. Medical - Products stocks are, on average, holding a PEG ratio of 2.35 based on yesterday's closing prices.
The Medical - Products industry is part of the Medical sector. This industry currently has a Zacks Industry Rank of 88, which puts it in the top 35% of all 250+ industries.
The Zacks Industry Rank includes is listed in order 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.
To follow ABT in the coming trading sessions, be sure to utilize Zacks.com.
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Abbott (ABT) Dips More Than Broader Markets: What You Should Know
Abbott (ABT - Free Report) closed the most recent trading day at $75.14, moving -0.53% from the previous trading session. This change lagged the S&P 500's daily loss of 0.35%. At the same time, the Dow lost 0.4%, and the tech-heavy Nasdaq lost 0.39%.
Prior to today's trading, shares of the maker of infant formula, medical devices and drugs had gained 8.05% over the past month. This has outpaced the Medical sector's gain of 3.02% and the S&P 500's gain of 4.48% in that time.
Wall Street will be looking for positivity from ABT as it approaches its next earnings report date. On that day, ABT is projected to report earnings of $0.61 per share, which would represent year-over-year growth of 3.39%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $7.48 billion, up 1.17% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $3.20 per share and revenue of $31.80 billion, which would represent changes of +11.11% and +4.01%, respectively, from the prior year.
Investors might also notice recent changes to analyst estimates for ABT. These revisions help to show the ever-changing nature 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 shows that these estimate changes are directly correlated with near-term stock prices. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an 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. The Zacks Consensus EPS estimate has moved 0.42% higher within the past month. ABT currently has a Zacks Rank of #2 (Buy).
Investors should also note ABT's current valuation metrics, including its Forward P/E ratio of 23.61. This valuation marks a discount compared to its industry's average Forward P/E of 23.87.
Investors should also note that ABT has a PEG ratio of 2.01 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. Medical - Products stocks are, on average, holding a PEG ratio of 2.35 based on yesterday's closing prices.
The Medical - Products industry is part of the Medical sector. This industry currently has a Zacks Industry Rank of 88, which puts it in the top 35% of all 250+ industries.
The Zacks Industry Rank includes is listed in order 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.
To follow ABT in the coming trading sessions, be sure to utilize Zacks.com.