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In the latest trading session, Abbott (ABT) closed at $112.71, marking a -1.73% move from the previous day. This change was narrower than the S&P 500's daily loss of 2.38%. Meanwhile, the Dow lost 1.94%, and the Nasdaq, a tech-heavy index, lost 0.64%.
Heading into today, shares of the maker of infant formula, medical devices and drugs had gained 8.36% over the past month, outpacing the Medical sector's gain of 1.41% and the S&P 500's loss of 0.07% in that time.
Wall Street will be looking for positivity from Abbott as it approaches its next earnings report date. The company is expected to report EPS of $1.11, down 5.13% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $10.36 billion, up 1.35% from the year-ago period.
ABT's full-year Zacks Consensus Estimates are calling for earnings of $4.83 per share and revenue of $41.62 billion. These results would represent year-over-year changes of -7.29% and -3.38%, respectively.
Any recent changes to analyst estimates for Abbott should also be noted by investors. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, 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. Within the past 30 days, our consensus EPS projection has moved 0.65% higher. Abbott is holding a Zacks Rank of #3 (Hold) right now.
Looking at its valuation, Abbott is holding a Forward P/E ratio of 23.76. Its industry sports an average Forward P/E of 22.99, so we one might conclude that Abbott is trading at a premium comparatively.
It is also worth noting that ABT currently has a PEG ratio of 4.13. 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. The Medical - Products industry currently had an average PEG ratio of 1.68 as of yesterday's close.
The Medical - Products industry is part of the Medical sector. This industry currently has a Zacks Industry Rank of 194, which puts it in the bottom 24% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual 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.
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 Laboratories (ABT) : Free Stock Analysis Report
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