Yahoo Finance Abbott (ABT) Rises As Market Takes a Dip: Key Facts
Abbott (ABT) ended the recent trading session at $101.74, demonstrating a +1% swing from the preceding day's closing price. The stock's change was more than the S&P 500's daily loss of 0.6%. Elsewhere, the Dow lost 0.86%, while the tech-heavy Nasdaq lost 1.08%.
Shares of the maker of infant formula, medical devices and drugs witnessed a loss of 5.23% over the previous month, trailing the performance of the Medical sector with its gain of 1.32% and the S&P 500's gain of 3.15%.
Market participants will be closely following the financial results of Abbott in its upcoming release. The company's earnings per share (EPS) are projected to be $1.10, reflecting a 1.85% increase from the same quarter last year. In the meantime, our current consensus estimate forecasts the revenue to be $10.35 billion, indicating a 3.78% growth compared to the corresponding quarter of the prior year.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $4.62 per share and a revenue of $41.66 billion, indicating changes of +4.05% and +3.86%, respectively, from the former year.
Investors might also notice recent changes to analyst estimates for Abbott. Such recent modifications usually signify the changing landscape of near-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.
Our research suggests that these changes in estimates have a direct relationship with upcoming 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, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. Right now, Abbott possesses a Zacks Rank of #3 (Hold).
Valuation is also important, so investors should note that Abbott has a Forward P/E ratio of 21.81 right now. This represents a discount compared to its industry's average Forward P/E of 22.39.
It's also important to note that ABT currently trades at a PEG ratio of 2.42. 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 average PEG ratio for the Medical - Products industry stood at 2.15 at the close of the market yesterday.
The Medical - Products industry is part of the Medical sector. This group has a Zacks Industry Rank of 96, putting it in the top 39% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our 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 use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.
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Abbott Laboratories (ABT) : Free Stock Analysis Report
