In the latest trading session, Abbott (ABT) closed at $117.13, marking a -0.57% move from the previous day. This change lagged the S&P 500’s daily loss of 0.08%.
Heading into today, shares of the maker of infant formula, medical devices and drugs had lost 4.62% over the past month, lagging the Medical sector’s gain of 0.93% and the S&P 500’s gain of 0.73% 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 $1.23 per share, which would represent year-over-year growth of 115.79%. Our most recent consensus estimate is calling for quarterly revenue of $10.45 billion, up 42.63% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $5.05 per share and revenue of $41.85 billion, which would represent changes of +38.36% and +20.94%, 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. As a result, we can interpret positive estimate revisions as a good sign for 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, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 0.25% higher within the past month. ABT is currently sporting a Zacks Rank of #3 (Hold).
Valuation is also important, so investors should note that ABT has a Forward P/E ratio of 23.34 right now. This valuation marks a discount compared to its industry’s average Forward P/E of 27.73.
We can also see that ABT currently has a PEG ratio of 1.69. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company’s expected earnings growth rate into account. Medical – Products stocks are, on average, holding a PEG ratio of 2.41 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 176, which puts 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.
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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