Abbott (ABT) closed the most recent trading day at $110.79, moving -0.45% from the previous trading session. This change lagged the S&P 500's 0.67% gain on the day. At the same time, the Dow added 0.57%, and the tech-heavy Nasdaq gained 0.61%.
Heading into today, shares of the maker of infant formula, medical devices and drugs had gained 9.61% over the past month, outpacing the Medical sector's gain of 0.38% and the S&P 500's gain of 7.78% 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 $0.89 per share, which would represent year-over-year growth of 5.95%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $8.43 billion, up 4.4% from the year-ago period.
ABT's full-year Zacks Consensus Estimates are calling for earnings of $3.27 per share and revenue of $32.88 billion. These results would represent year-over-year changes of +0.93% and +3.05%, respectively.
Investors should also note any 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.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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, 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. Over the past month, the Zacks Consensus EPS estimate has moved 0.25% higher. ABT is currently sporting a Zacks Rank of #3 (Hold).
Investors should also note ABT's current valuation metrics, including its Forward P/E ratio of 34. This represents a discount compared to its industry's average Forward P/E of 39.64.
It is also worth noting that ABT currently has a PEG ratio of 3.69. 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 4.29 based on yesterday's closing prices.
The Medical - Products industry is part of the Medical sector. This group has a Zacks Industry Rank of 175, putting it in the bottom 32% 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.
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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