Abbott Laboratories (ABT) Updates FY13 Earnings Guidance
Abbott Laboratories (NYSE:ABT) issued an update on its FY13 earnings guidance on Wednesday morning. The company provided earnings per share (EPS) guidance of $1.98-2.04 for the period, compared to the Thomson Reuters consensus estimate of $2.00, American Banking News reports.
Shares of Abbott Laboratories (NYSE:ABT) opened at 33.71 on Wednesday. Abbott Laboratories has a 1-year low of $30.0451 and a 1-year high of $38.77. The stock’s 50-day moving average is $33.9 and its 200-day moving average is $35.69. The company has a market cap of $52.390 billion and a P/E ratio of 13.45.
Abbott Laboratories (NYSE:ABT) last posted its quarterly earnings results on Wednesday, October 16th. The company reported $0.55 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.52 by $0.03. The company had revenue of $5.37 billion for the quarter, compared to the consensus estimate of $5.46 billion. During the same quarter last year, the company posted $1.30 earnings per share. Abbott Laboratories’s revenue was up 2.0% compared to the same quarter last year. On average, analysts predict that Abbott Laboratories will post $2.00 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Friday, November 15th. Investors of record on Tuesday, October 15th will be paid a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a dividend yield of 1.66%. The ex-dividend date is Thursday, October 10th.
A number of analysts have recently weighed in on ABT shares. Analysts at Stifel Nicolaus cut their price target on shares of Abbott Laboratories from $44.00 to $40.00 in a research note to investors on Monday, October 7th. They now have a buy rating on the stock. On a related note, analysts at Jefferies Group reiterated a buy rating on shares of Abbott Laboratories in a research note to investors on Wednesday, September 4th. They now have a $44.00 price target on the stock, down previously from $46.00. Finally, analysts at Zacks reiterated a neutral rating on shares of Abbott Laboratories in a research note to investors on Friday, August 30th. They now have a $35.00 price target on the stock. One analyst has rated the stock with a sell rating, nine have given a hold rating and ten have given a buy rating to the company’s stock. The stock currently has a consensus rating of Hold and a consensus target price of $37.85.
Abbott Laboratories (NYSE:ABT), is engaged in the discovery, development, manufacture, and sale of a portfolio of science-based health care products.
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