Yahoo Finance Abbott (ABT) Stock Moves -0.83%: What You Should Know
Abbott (ABT) closed the most recent trading day at $99.84, moving -0.83% from the previous trading session. This change was narrower than the S&P 500's 1.03% loss on the day. Elsewhere, the Dow lost 1.11%, while the tech-heavy Nasdaq lost 0.13%.
Prior to today's trading, shares of the maker of infant formula, medical devices and drugs had lost 1.2% over the past month. This has was narrower than the Medical sector's loss of 6.55% and the S&P 500's loss of 10.4% in that time.
Wall Street will be looking for positivity from Abbott as it approaches its next earnings report date. On that day, Abbott is projected to report earnings of $0.89 per share, which would represent a year-over-year decline of 36.43%. Our most recent consensus estimate is calling for quarterly revenue of $9.57 billion, down 12.46% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $4.99 per share and revenue of $42.34 billion. These totals would mark changes of -4.22% and -1.7%, respectively, from last year.
Investors should also note any 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.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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 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. Over the past month, the Zacks Consensus EPS estimate has moved 0.11% higher. Abbott is currently a Zacks Rank #3 (Hold).
Investors should also note Abbott's current valuation metrics, including its Forward P/E ratio of 20.16. This valuation marks a premium compared to its industry's average Forward P/E of 19.16.
It is also worth noting that ABT currently has a PEG ratio of 3.73. 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 was holding an average PEG ratio of 2.1 at yesterday's closing price.
The Medical - Products industry is part of the Medical sector. This group has a Zacks Industry Rank of 174, putting it in the bottom 31% 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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